Dictionary: The practice of funding a project or venture by raising money from a large number of people who each contribute a relatively small amount, typically via the Internet.

• UKCFA: Crowdfunding is a way of raising finance by asking a large number of people each for a small amount of money.

• Investopedia: Crowdfunding is the use of small amounts of capital from a large number of individuals to finance a new business venture. Crowdfunding makes use of the easy accessibility of vast networks of people through social media and crowdfunding websites to bring investors and entrepreneurs together

donate-ng’s summary of Crowdfunding
A practice of funding a project/cause/campaign by asking for money from a large number of people who each contribute a small amount of money.

Successful FundRaising Tips
1. Be Reasonable: Ensure your crowdfunding campaign amount target and duration (end date) are reasonable.

2. Be Honest: To have a successful crowdfunded project/cause or campaign, you have to be honest. Ensure your project description field carries an honest, accurate and true stories

3. Be Active and Alive: You must trust and believe in the project/cause or campaign you are raising funds for; hence you have to be ACTIVE and ALIVE by contacting everyone you can. Use Videos, Photos, Statistics.

4. Be Creative: Create an action that would encourage people to donate. i.e. you may do something or give something. A good example would be home baked Cake, free car wash service for colleagues, free haircut for friends etc.

5. Social Media Community: Create a social media handle or use your personal social media handle to promote your campaign.

6. Message Broadcast (SMS/Email): It’s advisable to brand your sender id, include declaimer and every necessary details to donate-ng portal.

7. Be Grateful: Be appreciative of every donation no matter how small. Use the update section.

CROWDFUNDING ENGAGEMENT MATRIX