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5 Common Misconceptions You Probably Have About Crowdfunding

The crowdfunding industry is still relatively new to India. This means that people are often confused about what it is that they do and why people should choose to crowdfund at all and not just send out their bank details to potential donors.

A crowdfunding India platform lets you tell your story loud and clear, share it easily across social media and accept donations on a safe and secure portal. It gives you the opportunity to raise awareness, make your cause viral and to raise lakhs of rupees in as short a span of time as a single day and make your project a reality. The platform charges a nominal fee not only because of payment gateways, but also because they work hard to promote the stories that come to them and to keep a safe and smooth platform up and running. Here are five common misconceptions people have about the world of crowdfunding!

Crowdfunding platforms are grant-giving agencies

Though they do operate in the funding industry, crowdfunding platforms do not provide the funds itself. Many platforms like Impact Guru find people creating fundraisers and enquiring why the funds aren’t pouring in. Crowdfunding works on the power of the crowd, and you as a campaigner will have to make efforts to reach out to the crowd.

Platforms will tell your story and find the crowd for you

Crowdfunding itself isn’t a service platforms provide. Platforms provide you with the space to tell your story and give donors a safe platform to make their donations. However, you will have to tell your story in an attractive manner and share it across your networks on social media. If you are having trouble writing your story, select crowdfunding India platforms like Impact Guru have expert writers who will do it for you!

The funds you raise need to be paid back

Crowdfunding platforms do not ask you to pay the funds back! You keep the funds you raise; donors made their contributions purely out of concern for your cause, hoping only to help you make an impact! Unlike loans, they do not expect you to pay back the funds.

The crowd will find you once you create your campaign

If this were true, every campaign would be a raging success! However, you need to plan how you’ll be reaching out to potential donors before you launch your campaign. You’ll need to plan and execute a social media strategy according to the kind of audience you’ll be reaching out to. Depending on your cause and what kind of people your potential donors are, think about what social media networks will work most effectively.

Crowdfunding platforms are NGOs and therefore, free

Behind top crowdfunding India platforms you’ll find a team of hardworking qualified people struggling to improve the platform everyday and provide you with the best service. Moreover, payment gateways and taxes that come with international donations make it impossible to run a crowdfunding platform without charging a nominal fee, which is deducted from your fundraiser once it closes.

If you still aren’t sure about how crowdfunding works, look up tips and tricks online to get you further acquainted!