Why Crowdfunding won’t work for Primary Schools

Why crowdfunding may not work as well for elementary schools.

It’s safe to say that crowdfunding has experienced massive growth over the past several years. According to marketwired.com, the market grew by 167% in 2014. And in 2015, the global market is expected to reach $34.4 billion.

The idea behind crowd fundraisers is to reach out to many people and ask them to donate to a specific cause using the internet. Social media is incorporated to get the word out and help drive crowdfunding campaigns.

Companies like signupgenius.com attempt to sell their easy-to-set-up platforms; however, achieving success by reaching one’s financial goals is entirely different. One estimate showed that only about 10% ultimately receive the funding they initially seek.

The bottom line is that primary schools looking to raise money are better off using a more conventional and proven method. Here are two reasons why:

Primary School Fundraisers Lack a Unique Purpose

Crowd fundraising works best when money is being raised for outstanding projects. People respond to emotional causes that compel them to give. One example might be a family with a young child with cancer who can’t afford their ongoing medical expenses.

Instead, most elementary schools are raising money for their ‘general fund’, which won’t necessarily move people to give. Schools have been pleading with parents to write checks instead of fundraising for years with little to modest success.

Crowd fundraisers appear to work best for more specialized projects or needs.

Crowdfunding Doesn’t Offer Student Incentives to Fundraise

Students must be motivated extrinsically to achieve the best possible primary school fundraiser results. Campaigns that offer prize incentive programs encourage students to get parents and other family members involved in selling so they can win prizes. This is the main engine that drives a typical school fundraising campaign. Crowdfunding can’t offer the needed incentives.

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Author Bio

Clay Boggess has been designing fundraising programs for schools and various nonprofit organizations throughout the US since 1999. He’s helped administrators, teachers, and outside support entities such as PTAs and PTOs raise millions of dollars. Clay is an owner and partner at Big Fundraising Ideas.