Malcolm Rivera
LaunchGood is a crowdfunding platform for Muslims, helping people raise funds online. It is the largest Muslim crowdfunding platform, with nearly 1 million donors worldwide. The average LaunchGood campaign raises almost five times more than GoFundMe, with an average donation of around $70. LaunchGood provides resources, support, and coaching to help campaigns reach their funding goals. It also offers global reach and exposure, making it a popular choice for fundraising. However, there have been concerns about transparency and fees, with some users reporting unexpected charges and a lack of clarity around how funds are distributed. LaunchGood holds campaigns to specific requirements and reviews them on a case-by-case basis, and it is not clear if political campaigns are allowed to raise money on the platform.
| Characteristics | Values |
|---|---|
| Target audience | Muslims |
| Type of platform | Crowdfunding |
| Platform fees | Zero as of April 2021 |
| Average donation | $70 |
| Total funds raised | Over $150 million |
| Number of donors | Nearly 1 million |
| Campaign type | Partial Funding or All-or-Nothing |
| Campaign duration | Around 30 days |
| Day of the week to start a campaign | Monday to Wednesday |
| Payment processors | Multiple |
| Payouts | Issued upon campaign completion unless otherwise requested by the campaign creator |
| Requirements | All Organizations, NGOs, & NPOs must comply with registration country regulations |
| Marketing fees | Yes |
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What You'll Learn
- LaunchGood is a crowdfunding platform for Muslims
- Campaigns can be of two types: Partial Funding and All-or-Nothing Funding
- LaunchGood provides support and resources to help campaigns succeed
- Campaigns must be transparent and establish legitimacy to gain trust
- LaunchGood uses multiple payment processors to ensure safe and quick fund transfers
LaunchGood is a crowdfunding platform for Muslims
The platform offers a range of features to support campaigns, including live consultants, coaches, and certified fundraisers. It also provides resources, support, and coaching to help users strategize and meet their funding goals. LaunchGood also offers a full administrative dashboard, allowing users to access donor information, track donations, and communicate directly with donors.
Campaign creators on LaunchGood are advised to be transparent and establish legitimacy by including personal information, pictures, and links to social media pages. They are also encouraged to use catchy headers, unique and emotionally appealing images, and videos, as campaigns with videos tend to raise twice as much as those without.
LaunchGood offers two types of campaigns: Partial Funding, where users keep whatever amount they raise, even if they don't meet their goal; and All-or-Nothing Funding, where users only receive the funds if they hit or surpass their goal. Campaigns lasting around 30 days tend to perform the best, with 80% of funds received in the first and last three days.
LaunchGood has helped over 400 organizations raise a combined total of $4.5 million annually, with an average donation of around $70. The platform claims that campaigns on LaunchGood raise almost five times more than on competing platforms such as GoFundMe.
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Campaigns can be of two types: Partial Funding and All-or-Nothing Funding
LaunchGood is the world's largest Muslim crowdfunding platform, with nearly 1 million donors worldwide. It helps people raise funds online for various causes and projects. While LaunchGood does not appear to be tailored to political campaigns, it is possible that a political campaign can raise money on the platform.
On the other hand, All-or-Nothing Funding releases funds only if the campaign reaches its goal by the deadline. If the goal is not met, no cards are charged, and the campaign receives nothing. This model creates a sense of urgency for patrons, encouraging them to pledge higher amounts to ensure the project's success. It is suitable for campaigns that require a certain amount to move forward, such as purchasing expensive equipment.
The choice between Partial Funding and All-or-Nothing Funding depends on the nature of the campaign and the funds required. For example, a campaign to feed the homeless may benefit from Partial Funding as it can still make an impact with a partial budget. In contrast, a campaign to produce a movie may prefer All-or-Nothing Funding to avoid being stuck with insufficient funds.
Additionally, it is worth noting that while Partial Funding campaigns are more common, All-or-Nothing campaigns have a higher success rate in reaching their goals. This is because the high stakes encourage both the campaigners and supporters to work harder, leading to increased funding.
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LaunchGood provides support and resources to help campaigns succeed
LaunchGood is the largest Muslim crowdfunding platform, with a community of nearly 1 million donors worldwide. It helps people raise funds online by providing support and resources to help campaigns succeed.
Firstly, LaunchGood provides technical support and guidance through live consultants, coaches, and certified fundraisers. This means that users can talk to a real person and get help with strategizing the best way to reach their funding goals. This includes advice on how to establish legitimacy and transparency, such as including pictures, links to social media pages, and catchy headers. LaunchGood also provides a full administrative dashboard, allowing users to access donor information, track where donations are coming from, and communicate directly with donors.
Secondly, LaunchGood offers a range of product features and tools to help with promoting and tracking fundraising progress. This includes the option of LaunchGood Ads, which have helped organizations amplify their reach and achieve a significant return on investment. LaunchGood also provides guidance on the best time to start and finish campaigns, with campaigns lasting around 30 days tending to perform best.
Thirdly, LaunchGood provides support with payment processing to ensure campaign creators receive their funds quickly and safely. The platform uses multiple payment processors, with the payment processor selected based on the user's bank account location. Payouts are typically issued upon campaign completion, although there may be delays due to various factors, such as uncleared donations or bank holidays.
Finally, LaunchGood offers two types of campaigns: Partial Funding and All-or-Nothing Funding. With Partial Funding, users keep whatever they raise, even if they don't meet their goal. All-or-Nothing Funding means that users only receive the money if they hit their goal or surpass it; otherwise, no credit cards are charged. While the latter option may be stressful, campaigns that choose this route tend to be more successful as the high stakes motivate supporters to work harder.
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Campaigns must be transparent and establish legitimacy to gain trust
LaunchGood is the largest Muslim crowdfunding platform, helping Muslims raise funds online. It was founded by Muslims for the Muslim community. It is not clear whether political campaigns can raise money on LaunchGood, but the platform has guidelines for crowdfunding campaigns.
Political campaigns must be transparent and establish legitimacy to gain trust. This is also true for elections, where competitive campaigns mitigate the effects of prior preferences and promote the legitimacy of elections. Research on the 2016 U.S. presidential campaign documents a robust "winner's effect" on voter confidence despite intense partisan messaging. This suggests that fluctuating electoral outcomes in competitive democracies limit the impact of elite messages on trust in electoral institutions.
Campaigns must be transparent to establish legitimacy and gain trust. This means getting personal and talking about who you and your team are, including pictures, and sharing links to social media pages. It also means removing any doubt that you are a legitimate person, organization, or business. People have short attention spans, so it's important to use catchy headers, unique and emotionally appealing images, and graphs instead of text when possible. Campaigns with videos tend to raise twice as much money as those without.
It is important to identify the amount of money you need to raise and be realistic about what you can accomplish. Perception is important, and you don't want to set your goal too high and risk looking like a failure. Campaigns should aim for 20% more than they need to cover expenses. There are two types of campaigns: Partial Funding, where you keep whatever you raise, and All-or-Nothing, where you only get the money if you hit your goal. The latter tends to be more successful because the high stakes force you and your supporters to work harder.
Finally, it is important to choose the best campaign type for your project. For example, if you're raising money to feed the homeless, Partial Funding is a better option because you can still feed a lot of people even if you don't reach your goal. On the other hand, if you're raising money to make a movie, All-or-Nothing Funding is better because you don't want to be stuck with insufficient funds. Campaigns that are around 30 days tend to perform best, and it's important to start and finish your campaign strategically, as 80% of funds are received in the first and last 3 days.
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LaunchGood uses multiple payment processors to ensure safe and quick fund transfers
LaunchGood is the largest Muslim crowdfunding platform, with a community of nearly 1 million donors worldwide. It is a platform founded by Muslims, for the Muslim community. It helps Muslims raise funds online every day, with over $150 million worth of funds raised.
Campaign creators can expect to receive their funds upon campaign completion, unless otherwise requested. However, there may be delays in receiving funds due to various factors such as uncleared donations, bank holidays, or national holidays. In some cases, intermediary banks may require additional information, and a LaunchGood payments specialist will be in touch to address these requirements.
LaunchGood provides extensive support to campaign creators, offering resources, coaching, and guidance to help them strategize and reach their funding goals. It also provides tools such as a full administrative dashboard, allowing creators to access donor information, track donation sources, and communicate directly with donors.
While LaunchGood does not charge any platform fees, campaign creators should anticipate expenses such as credit card fees, which typically amount to around 3% of the total funds raised. It is recommended to aim for 20% more than the required funds to account for these additional costs.
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Frequently asked questions
LaunchGood is a Muslim crowdfunding platform that helps Muslims raise funds for various causes. While it is not explicitly stated that political campaigns are prohibited, LaunchGood emphasizes its focus on the Muslim community and Islamic values. Organizations must comply with the regulations of their registration country. Additionally, LaunchGood has been criticized for its marketing program and lack of transparency regarding fees, with some commenters stating that they prefer to donate to non-political Islamic organizations.
LaunchGood offers a variety of features and support to help campaigns succeed. They provide live consultants, coaches, and certified fundraisers to guide campaigns. They also offer tools for marketing and administrative tasks, such as tracking donations and donor information. LaunchGood claims that campaigns on their platform raise more money on average compared to other platforms.
LaunchGood offers two types of funding options: Partial Funding and All-or-Nothing Funding. In Partial Funding, you keep whatever amount you raise, even if it's short of your goal. In All-or-Nothing Funding, you only receive the money if you hit or surpass your goal; otherwise, no credit cards are charged. Campaigns around 30 days tend to perform best, and it's important to strategically plan the start and end dates, as 80% of funds are received in the first and last three days.
To establish legitimacy, it's crucial to be transparent and build trust with potential donors. Include personal information about yourself or your team, pictures, and links to social media pages. Use catchy and unique headers, and incorporate emotionally appealing images and videos, as campaigns with videos tend to raise twice as much.
