[Video] How To Create a Fundraising Campaign on SoFund.us
The funeral profession’s first crowdfunding platform, SoFund.us, soft launched last week by allowing companies to start creating fundraising campaigns. With this type of launch for a new concept has brought forth many questions.
There are three main questions that have been asked; What is Crowdfunding?, Why the Funeral Profession?, How do I create a fundraising campaign?
Crowdfunding describes the collective cooperation of people pooling money and other resources in order to create a network that supports people, organizations, projects, initiatives or ideas.
Crowdfunding at the scale we see today is a relatively new phenomenon, but its roots go back to 1883 when a form of crowdfunding was used for the Statue of Liberty. In just five months the “crowd” donated $100,000 (the equivalent of $2.3 million today). Much of it came in gifts of one dollar or less. The reward for a $1 contribution was a 6” statuette and the reward for a $5 contribution was a 12” statuette.
Today crowdfunding has been successful in the areas of art, film, music, journalism and start-ups. According to Growthink.com, crowdfunding in the US grew by 259% in 2011 to an estimated total raise of $248 million. SoFund.us is the only platform of its kind wholly dedicated to the funeral profession.
We care passionately about the funeral profession and helping funeral professionals provide end of life services that exceed the expectations of the client families they serve. Crowdfunding is the perfect opportunity for members of the funeral profession to present innovative product and business ideas to backers who will support their projects. SoFund.us is the only platform of its kind wholly dedicated to the funeral profession.
How do I create a fundraising campaign?
1. Sign Up: You are welcome to sign up whenever you want!
2. Submit Fundraising Project: At SoFund.us we review fundraising project proposals on a rolling basis. Complete our free and simple project profile application anytime and submit for review.
3. Review Process: We will review your fundraising project proposal quickly and will get back to you with questions (within 24-48 hours) or approve you right away. (To ensure quick approval, a fundraising project proposal must include: introduction video and required information about your company or concept that will communicate the value of your fundraising project.)
4. Run Your Campaign: A campaign lasts 45 days and is only successful when 100% of the fundraising goal is raised. Reaching the project funding goal is an effort that requires leveraging social networks, customers, vendors, PR channels, along with your face to face encounters. During the project campaign period all pledged funds from Backers are held with credit card approval by WePay.com (Our 3rd party payment processor).
5. Receive Funds: At the end of the 45 day fundraising campaign, if 100% of the goal is raised, Backer payments are processed and funds are deposited into Project creator’s bank account. 10% is subtracted from total funds raised. The 10% is divided three ways; 6.1% is payment to SoFund.us, 1% is paid to our technology partner, Launcht, and 2.9% is collected by WePay.com for processing.
6. Distribute Rewards: Project creators follow up with progress updates and rewards promised completing the fundraising cycle and beginning funeral innovation.