Let’s start with some basic math:
10 * 100 = ?
The answer is 1,000
1 * 1,000 = ?
You’re right it’s also 1,000.
That’s the concept behind micro-fundraising.
It’s easier to get a lot of people to contribute a small amount of money than it is to get a small number of people to donate a larger amount of money. There’s obviously a threshold at which this theory breaks down.
How some people use this
Chris Brogan often supports causes on his blog and usually will ask for no more than $10, which he likes to compare to the cost of 3 lattes. In a short period of time, due to his reach, he has been able to raise thousands of dollars from small donations of hundreds of people.
Several months ago, I reached out to my network to help me raise funds for the American Diabetes Step Out Walk. Within several days I crushed my initial fundraising goal and exceeded my second fundraising goal. Most people made small donations between $5 – $25 but all combined I raised over $500 within a few days.
Social Media and Activism
Many people debate the impact social media can have on true activism. The one place most seem to agree is that Social Media makes it relatively easy to get a large number of people to take small actions, like donating a small amount of money or changing a profile picture to raise awareness.
How are you using micro-fundraising to make a difference?