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Thousands and Thousands of Crowdfunding Sites

Thousands and Thousands of Crowdfunding Sites

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Published by: Crowdsourcing.org on Dec 29, 2012
Copyright:Attribution Non-commercial


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THOUSANDS AND THOUSANDS OF CROWDFUNDING SITESThe current literature says that there will be 700+ crowd funding ("CF") sites worldwide and those siteswill generate over $3billion in funding by the end of 2013.There will be thousands and thousands of CF sites and they will generate hundreds of billions of dollarsin funding.CF is a social tool - as forums (remember the WELL ?), instant messaging (remember ICQ ?), photos (awhole bunch including Pinterest) , video (YouTube), chat and email are all social tools. Social toolsbecoming the building blocks of communities. Social tools are the best way to create a "stickiness" to awebsite (still have your AOL email ? - I do).Social tools migrate two places: (1) Aggregators (from social communities like Facebook to content sitessuch as Yahoo or ESPN to whatever Google is) and (2) Branded Sites (from corporations to non profits). If a social tool has the power to attract a user, retain a user and encourage site usage and data collection,then that tool will become a part of something more inclusive than just the single social tool?CF speaks to the specific and the near term. A single project closing on a defined date.Organizations and Brands speak to the general and the long term.Specific and near term will become a part of the general and long term. The Ford.com website speaksabout the Ford Company, its products, its dealers and its organization. The Ford crowdfunding site couldspeak to specific charitable projects (Ford will donate $1 for every dollar raised for XYZ Charity) orspecific projects (raising money for scholarships or raising money for an event).Every museum, university, aid organization, local/regional economic development agency, medicalresearch organization, arts sponsor, every website that speaks to the general, yet has instances of thespecific and near term project, will offer CF services as they now offer email, feedback, chat, forums andall the other tools in the social toolbox. These Branded sites bring a level of domain knowledge andvalidity to their CF offerings. These Branded sites have an installed base of users who identify with themission of the Branded site.There is an established affinity between a Branded site and its user base. The American Red Crosssolicits donations for its mission to" provide compassionate care to those in need." That is the generaland long term. The American Red Cross, through the use of branded CF can solicit donations for Katrinaor flood victims or any of the other never ending specific and near term stream of catastrophes.IndieGoGo presents individual film projects. The USC Film School, the American Film Institute and thefilmindependent.org website can all present film projects. A dedicated film organization would not onlyhave the power of their brand, they would also be able to offer more film related items such as classes,and events.What makes CF so attractive is the fact that it generates revenue all by itself.

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