Crowdfunding is much more than a buzzword—it’s a tool for people to turn an idea into a film; start a business; and in our case, free promising college students from the burden of student debt. Still, it can be difficult for people on crowdfunding sites and those supporting them to understand the concept. Since it is prime Girl Scout cookie selling season, I thought Girl Scout cookies would serve as the best analogy for SuccessFunding and other crowdfunding sites.
When Promoting Your Profile, Think Thin Mints
Most people reading this blog have been on one side of a Girl Scout cookie transaction either as the Girl Scout selling the Thin Mints or the hungry patron. If you’ve never sold a box before, think about the situations in which you’ve bought Girl Scout cookies: from a family friend, a coworker’s daughter, or a troop of Brownies with a booth at your local grocer. It’s beneficial to share your fundraiser with the same networks. Part of Girl Scouts' success can be attributed to their enlistment of parents in cookie selling. Similarly, your family and friends can be your best assets in promoting your fundraiser. Ask them to use social media, email, and in-person meetings to share your educational ambitions and SuccessFunding fundraiser. Soon, your SuccessFund will get page views from family; friends; coworkers; the friends of your family; the family of your friends; the kind, cookie-loving strangers at the grocery store—you get the idea.
It All Adds Up
Are you hesitant to start a profile on a crowdfunding site or donate to one because you’re skeptical your small donation will actually make a difference? Think about Girl Scouts. Are selling Girl Scout cookies a lucrative opportunity when they’re only priced between $3.50 and $5.00 per box? Absolutely, cookies sales were over $780 million in 2012! While we know individual crowdfunding campaigns won’t reach the hundred million dollar level of success, the Girl Scouts do prove that every box (or donation to a crowdfunding campaign) really does add up.
SuccessFunding is Better than Cookies
We can’t assert that we taste better than Carmel deDelites but we do know your dollar makes a greater impact when donated to a SuccessFunding campaign. Although buying a box of Girl Scout cookies does support the Girl Scout's troop, most of the money goes to the the local council and the commercial bakers that make the cookies. It's also common for crowdfunding sites to take a piece of the pie—Kickstarter applies a 5% fee to the funds raised in successful campaigns. But on SuccessFunding, 100% of donations go into the student’s 529 savings plan, a tax advantaged college savings account. We don't pass on our costs to the students crowdfunding on our website like most do; instead, donors pay a 3% credit card processing fee and a flat $2.50 "keep us in business" fee. You can rest assured knowing every cent of your donation goes toward the SuccessFundee's educational expenses.
by: Paige Witthar
