Follow the Money: Why We’re Bullish on Crowdfunding but not Facebook
Back in the olden days when dinosaurs roamed the earth and online fundraising was new, we noticed an interesting trend. Adoption of online giving grew in near lockstep with the growth of ecommerce, online banking and bill paying. As buying books, paying bills and checking our bank balance became routine, charitable giving followed in their wake.
So if commercial engagement is a predictable precursor of charitable behavior, crowdfunding could very well be a “next big thing.” While crowdfunding for charities certainly exists, it is dwarfed by use of the strategy to fund films, music, new products and even business startups. It’s an increasingly routine and acceptable thing to do, and we think that will help charitable applications grow apace.
Conversely, ecommerce has never really taken root on Facebook, Twitter or similar social networks. We generally don’t buy stuff on Facebook or Twitter. Not surprisingly perhaps, charitable giving on these nets has not really gone anywhere.
Wanna know what the next big thing is going to be in online giving? Follow the money.