1. How Crowdfunders Can Raise More Money, According to Research.
- Author
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DeCarbo, Beth
- Subjects
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FUNDRAISING , *PERSONAL finance , *WEALTH management services , *CROWD funding - Abstract
Crowdfunding has become a popular method for individuals in need of financial assistance, with approximately 30 million people giving and receiving help through platforms like GoFundMe in 2023. While some campaigns are for essential needs like medical expenses and funerals, others seek funding for less critical expenses like beauty pageants and vacations, which can lead to online backlash. Researchers have found that successful crowdfunding campaigns often include certain attributes, such as health-related causes, photos with multiple faces, and appealing descriptions. However, there are racial and gender disparities in fundraising, with white men typically raising higher amounts due to factors like education, net worth, and social networks. Donors may also be motivated by image consciousness, as contributing to crowdfunding campaigns can enhance their reputation. [Extracted from the article]
- Published
- 2024