While it’s not impossible to crowdfund large sums of money through crowdfunding, these are often rare occasions that require a lot of time, dedication, a large network of supporters, and the use of social media.
In this article, we will guide you through setting your fundraising target and what you should consider when setting your goal.
To investigate on average how many donors it typically takes to reach your fundraising target, we researched over 600 successful campaigns on BackaBuddy.
We found that campaigns that raise:
- R10 000 typically have 15+ donors
- R20 000 typically have 30+ donors
- R50 000 typically have 40+ donors
- R100 000 typically have 130+ donors
- R200 000 typically have 185+ donors
- R250 000 typically have 190+ donors
Small fundraising targets
Depending on your network of supporters, campaigns with smaller fundraising targets (R5000-R10 000) tend to reach their fundraising targets quicker and can be funded by approaching your close, personal network and making use of social media.
Smaller targets tend to be less intimidating to donors and often focus on one tangible need which makes the campaign more appealing to supporters.
A basic guide to Raising 10 000 and below.
A basic guide to Raising R20 000
Medium to large fundraising targets
If your fundraising target is significant (R50 000 – R200 000) or if you’re raising funds for ongoing costs, your campaign will typically take on a longer fundraising cycle.
To avoid donor fatigue, you will need to approach a wider network of supporters through social media and the press. (If your campaign is newsworthy)
Campaigns with large fundraising targets can be intimidating to potential supporters, as they often feel their contribution won’t make much of an impact on the barometer.
If possible, re-evaluate your campaign ask and structure your campaign around your most pressing need. If there is no way to decrease your campaign target, include a breakdown of your costs, so donors can see where the funds will be used.
A basic guide to Raising R50 000
A basic guide to Raising R100 000 and above.
Reasons to adjust your fundraising target
- You have included too many needs in your fundraising ask
- Your fundraising needs have changed
- You have exhausted your personal network of supporters
- There’s a lack of support at the start of your campaign
Storytelling is key:
Before setting up a crowdfunding campaign, make sure you have ticked off all the items in our advice checklist.
- Setting up your campaign
- Coming up with your crowdfunding idea & name
- Setting your fundraising target
- Writing your crowdfunding campaign story
- Creating a crowdfunding video
- Finding your donors & Getting started
- Sharing your crowdfunding campaign on WhatsApp
- Sharing your crowdfunding campaign on Facebook
Create your own crowdfunding campaign
BackaBuddy has supported more than 10 000+ individuals and charities in setting up crowdfunding campaigns for medical fees, tuition and various other causes in South Africa.