The latest numbers for the international Crowd funding market just got released. And these numbers show what we at 234Give already know: the online crowd funding market is exploding!
Over 16 billion dollar got crowd funded worldwide in the last year. And these numbers are bound to double to 31 billion dollar in 2015. Social causes amount for 3 billion dollar. Even large charities like the Red Cross tap into crowd funding .
According to Jennifer Elwood, vice president of consumer marketing and fundraising at the Red Cross, crowd funding has been effective, particularly after disasters. “One of the things we think about at Red Cross is meeting people where they’re at,” Elwood said. “The personal stories are actually what makes crowd funding so compelling,” she said. “Any time that people are passionate about humanitarian causes is a benefit to the Red Cross.”
As the world is embracing online fundraising, it’s just a matter of time for Nigeria to catch up on this. And boost these numbers.
Crowd funding potential for Nigeria is huge. As it is the nr. 1 economy in Africa. It’s also one of the fastest growing countries in Internet access with over 67 million users. We mostly use mobile phones to access the Internet. This makes Nigeria the biggest African country in terms of population, both online and offline. Over the coming decade these numbers are expected to grow tremendously.
We also know that ‘the single best predictive factor for the rate of crowd fund emerge is social media penetration’. This is where Nigeria has a head start. There is a massive penetration of Facebook.
234Give is Nigeria’s first online fundraising platform dedicated to empowering passionate social change makers. By linking charities, fundraisers and donors on the platform, we empower them to fundraise significantly more than is possible through conventional channels. Looking forward to boost those Crowd funding numbers in Nigeria with all you charities!