Online social network fundraising: Threats and potentialities |
| |
Authors: | Walter Wymer Ljiljana Najev ?a?ija |
| |
Institution: | 1. Dhillon School of Business, University of Lethbridge, Lethbridge, Canada;2. Faculty of Economics, Business, and Tourism, University of Split, Split, Croatia |
| |
Abstract: | There has been a growth in online fundraising from crowdfunding apps, like GoFundMe, that propagate fundraising appeals on social networking sites. In the online space, these crowdfunding apps pose a potential threat to the traditional intermediation role of charities. The disintermediation threat is that donors choose crowdfunding intermediaries instead of charities to channel their giving. In this article, we discuss what makes crowdsourced fundraising effective and how charities can adapt to this new dynamic for more effective online fundraising emphasizing two key success factors: brand strength/reputation and managing the donor experience. In addition, we explain the advantages and disadvantages of social media fundraising and giving and propose ways charities can leverage their good reputations and public trust to stimulate reintermediation. Finally, we propose a landscape for future research based on model that emphases the fundraising campaign's ability to stimulate viral sharing within and between online social networks. |
| |
Keywords: | charity fundraising crowdfunding crowdsourcing online fundraising social media fundraising social network fundraising |
|
|