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Why JustGiving's Business Model is so successful?

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JustGiving’s Company Overview


JustGiving is a leading global online platform dedicated to facilitating charitable giving. Established in 2000 and based in London, UK, JustGiving has revolutionized the way people donate to and raise funds for charitable causes. The platform provides an easy-to-use and efficient way for individuals and organizations to fundraise for their chosen charities, enabling them to create personalized fundraising pages, share their stories, and connect with supporters. With a community of over 22 million users, JustGiving has helped raise over $4.5 billion for more than 26,000 charitable organizations across the globe, ranging from large international NGOs to local community groups. JustGiving operates on a business model that primarily revolves around providing a digital platform for fundraising. The platform allows individuals to set up fundraising pages for a particular cause, event, or charity. Users can then share these pages with their network, collect donations, and track their fundraising progress. The platform also provides tools and resources to help charities increase their visibility and reach potential donors. Additionally, JustGiving offers a crowdfunding service, where people can raise money for personal causes or projects that may not be linked to a registered charity. The revenue model of JustGiving is based on charging a small fee from each donation made through the platform. This fee helps cover the costs of maintaining and developing the platform, providing customer support, and ensuring the security of transactions. Additionally, JustGiving offers a subscription-based service for charities, where they pay a monthly fee to access advanced features and tools that can help them raise more funds. The company also generates revenue through partnerships with corporations, offering them a suite of services including employee engagement, corporate social responsibility initiatives, and branded fundraising events.

https://www.justgiving.com/

Country: England

Foundations date: 2000

Type: Charity

Sector: Consumer Services

Categories: Crowdsourcing


JustGiving’s Customer Needs


Social impact:

Life changing: affiliation/belonging, motivation

Emotional: provides access

Functional: simplifies, connects, informs


JustGiving’s Related Competitors



JustGiving’s Business Operations


Community-funded:

The critical resource in this business strategy is a community's intellect. Three distinct consumer groups comprise this multifaceted business model: believers, suppliers, and purchasers. First, believers join the online community platform and contribute to the production of goods by vendors. Second, buyers purchase these goods, which may be visual, aural, or literary in nature. Finally, believers may be purchasers or providers, and vice versa.

Crowdfunding:

Crowdfunding is the technique by which a large number of people contribute to a project. Contribute modest sums of money to support a new business endeavor. Crowdfunding leverages the ease of accessing vast networks of people, connecting investors and entrepreneurs through social media and crowdfunding websites. It can increase entrepreneurialism by widening the pool of investors further than the traditional ring of owners, relatives, and venture capitalists.

Crowdsourcing:

Crowdsourcing is a kind of sourcing in which people or organizations solicit donations from Internet users to acquire required services or ideas. Crowdsourcing differs from outsourcing because work may originate from an undefined public (rather than being commissioned from a particular, identified organization). In addition, those crowdsourcing procedures are a combination of bottom-up and top-down. The benefits of crowdsourcing may include reduced prices, increased speed, better quality, increased flexibility, scalability, and variety. An anonymous crowd adopts a solution to a task or issue, usually through the internet. Contributors are compensated or have the opportunity to win a prize if their answer is selected for manufacturing or sale. Customer engagement and inclusion may help build a good rapport with them, resulting in increased sales and income.

Digital:

A digital strategy is a strategic management and a business reaction or solution to a digital issue, which is often best handled as part of a broader company plan. A digital strategy is frequently defined by the application of new technologies to existing business activities and a focus on enabling new digital skills for their company (such as those formed by the Information Age and frequently as a result of advances in digital technologies such as computers, data, telecommunication services, and the World wide web, to name a few).

Donation-based:

Crowdfunding for charity purposes is a collaborative effort by people to aid charitable projects. Civic crowdfunding is a kind of charity crowdfunding in which money is collected to improve public life and space.

Online marketplace:

An online marketplace (or online e-commerce marketplace) is a kind of e-commerce website in which product or service information is supplied by various third parties or, in some instances, the brand itself, while the marketplace operator handles transactions. Additionally, this pattern encompasses peer-to-peer (P2P) e-commerce between businesses or people. By and large, since marketplaces aggregate goods from a diverse range of suppliers, the variety and availability are typically greater than in vendor-specific online retail shops. Additionally, pricing might be more competitive.

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