When crowdfunding becomes a branding strategy

By September 28, 2012 1 comment
multiple people contributing to financing a project

Expanding funding potential from personal needs like medical or educational purposes, GoFundMe launches its brand-focused Member Networks. Now organizations can promote their brand and offer a crowd-funded payment option.

Crowdfunding has expanded its scope from political campaigns, small business projects, and startup funding with GoFundMe. This San Diego-based company lets its users raise money for even more flexible purposes - as CEO Brad Damphousse told l’Atelier, it is the “crowdfunding site for the rest of us,” funding anything from pet care or medical emergencies to college kids who want to study abroad. With its new Member Networks, brands can associate with their own members’ campaigns to raise money – in other words, organization can brand the campaign pages of their members - their logo appears on the campaign page, which links to the corporate website of the company.

Boosting brand presence

This presence on campaign pages may boost brand presence - organizations gain exposure by associating with these campaigns, and bring new support to their Member Network. According to Damphousse, “The brand is enabling more people to afford their product/service - in essence they're offering a 'crowd-funded payment option.’” This benefit is illustrated by Member Network’s launch partner International Volunteer HQ. The volunteer placement firm connects its members with other organizations, but these volunteers must fund various requirements for the position. GoFundMe provides a place for these volunteers to raise funds for airfare, insurance and other expenses.

And getting additional revenue

GoFundMe Member Networks offer revenue in the form of commission - GoFundMe gets 5 percent of campaign payout, which it splits with brands who refer user accounts or donors. Member Network brands get this commission from users who come from the partner website to GoFundMe and sign up for an account, whether they collect money from a campaign or give money to someone else’s. Member Networks also prevents users from fraud using identity verification through Facebook, PayPal and others. However, if a GoFundMe member wishes to browse the various member pages of an organization, she would have to manually search for them.

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