Higher-Ed Crowdfunding: What Is It and Why Does It Matter?
“Crowdfunding” is the buzzword of the day in higher-ed fundraising. Last week, in one of Academic Impressions’ informal 7 Second Surveys, we asked our readers: “Do you expect to use a crowdfunding tool to raise dollars at your institution in the next year?” 67% said “no.” 33% said “yes.” 140 higher-ed fundraisers replied to our informal survey. What quickly becomes apparent in reviewing the comments on the survey, however, is that professionals in higher education are using “crowdfunding” to refer to a variety of new donor acquisition initiatives that are distinct both in approach and in the level of investment required. For some, crowdfunding refers simply to any form of online giving. Our advancement program directors Erin Swietlik and Gwen Doyle offer this breakdown of three new donor acquisition initiatives some of your peers are trying and how these initiatives differ — to help you determine what option might be the right fit for your institution. 1. A Day of Giving A day of giving is a concentrated, 24-hour fundraising campaign targeted at increasing unrestricted gifts over a short, concentrated period to the annual fund. The effort typically uses email solicitation, social media buzz and peer-to-peer solicitation, all driving towards […]