New Trend: Crowdfunding for Events
Crowdfunding is a relatively new concept in which businesses raise small amounts of money from many contributors to fund the launch of a new product, musical score, movie, book, art project and more. Kickstarter is one such site. Contributors receive a special gift in exchange for their contribution.
Crowdfunding is also used to raise money for projects in developing nations. Kiva is a site at which viewers can lend up to $25 to a farmer or business owner in another country. A donation to Kickstarter is just that - a donation. However, with Kiva investors may receive their money back.
Now, crowdfunding for events is being tested by Picatic, a ticket management company. The service is designed for organizations planning a community event. (Sorry brides and grooms, but this is not the place to fund your wedding or another small private event.) The organization creates a special web page for the event from which tickets are pre-sold. Early purchasers might receive a discounted price or a unique item associated with the event, such as a special T-shirt, or both.
The event organizers set a funding goal and a deadline several weeks before the event will occur. Picatic then manages ticket sales. When the deadline arrives, if the funding goal has been met, all purchasers' credit cards are billed and the Picatic website goes away. The organization then begins selling regularly priced tickets through their own website or another method. If the funding goal is not met, credit cards are not billed and the organizers can cancel the event without possibly incurring a substantial loss by going forward with a poorly attended event. Organizers of a successfully funded event receive a check for ticket sales shortly after the event occurs.
Picatic offers resources for promoting the event to your contact list, through social media and by adding a widget to your organization's website. Of course, the service isn't free, but you, the event organizer, can decide how much you want to pay - pretty cool idea. If your event was wildly successful, you can show your appreciation by the percentage of ticket sales you pay for Picatic's services.
If you are planning a community event requiring a significant financial investment, you may want to give Picatic a try. A recent search on the site revealed concerts, a roller derby and more all selling advance tickets.
Crowdfunding is also used to raise money for projects in developing nations. Kiva is a site at which viewers can lend up to $25 to a farmer or business owner in another country. A donation to Kickstarter is just that - a donation. However, with Kiva investors may receive their money back.
Now, crowdfunding for events is being tested by Picatic, a ticket management company. The service is designed for organizations planning a community event. (Sorry brides and grooms, but this is not the place to fund your wedding or another small private event.) The organization creates a special web page for the event from which tickets are pre-sold. Early purchasers might receive a discounted price or a unique item associated with the event, such as a special T-shirt, or both.
The event organizers set a funding goal and a deadline several weeks before the event will occur. Picatic then manages ticket sales. When the deadline arrives, if the funding goal has been met, all purchasers' credit cards are billed and the Picatic website goes away. The organization then begins selling regularly priced tickets through their own website or another method. If the funding goal is not met, credit cards are not billed and the organizers can cancel the event without possibly incurring a substantial loss by going forward with a poorly attended event. Organizers of a successfully funded event receive a check for ticket sales shortly after the event occurs.
Picatic offers resources for promoting the event to your contact list, through social media and by adding a widget to your organization's website. Of course, the service isn't free, but you, the event organizer, can decide how much you want to pay - pretty cool idea. If your event was wildly successful, you can show your appreciation by the percentage of ticket sales you pay for Picatic's services.
If you are planning a community event requiring a significant financial investment, you may want to give Picatic a try. A recent search on the site revealed concerts, a roller derby and more all selling advance tickets.
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