In today’s financial climate, understanding alternative finance and decreasing our dependence on grants and charitable giving is essential for arts and heritage organisations.
Crowdfunding is a key method in the range of options available, and our sector has huge potential for the all-important mission-based support that ensures a successful campaign.
We have discovered through our own successful work that crowdfunding and crowdsourcing are extremely powerful community-building and engagement tools. It has worked for us, helping DigVentures build a worldwide community of interested, informed and active stakeholders. Our Venturers are the bedrock of all our projects, joining us on our sites as well as filling our social media channels with their enthusiasm, expertise and commitment.
How can crowdfunding work for you?
There is no one between you and your audience: Crowdfunding disrupts and democratises finance, allowing the public to invest their funds directly in organisations and ideas. How effective are you at communicating your mission and vision to the public? Crowdfunding can help you refine these essential pillars of successful operations.
Build profile and discover new support: The power of digital communications means that a good campaign can break down geographical barriers and launch your idea to the world beyond your normal audience, widening your base of support and building your profile with new communities of interest. Get ready for increased attention, bigger events, and plenty of movement in your demographics
Make the most of your funds and new community: Expanded audiences, new communities and crowdfunding contributions enable organisations to think creatively about innovative ways of working that make the most of time-saving, financially efficient and diverse yet inclusive new ways of working. Try something new – why not?
Most importantly for arts and heritage organisations, crowdfunding helps to promote the triple bottom line of sustainability in business operations: people, profits, and the planet. The triple bottom line is particularly relevant for non-profits, CICs and other organisations who promote business as a power for social good, and who evaluate success across a spectrum beyond just profitability.