crowdfunding for the arts and cultural sector
TRANSCRIPT
CrowdfundingCrowdfundingfor the Arts, Cultural and for the Arts, Cultural and
Creative sectorCreative sector
‘‘It was the revolutionary fundraising model that It was the revolutionary fundraising model that swept Barack Obama to power – and it could help swept Barack Obama to power – and it could help
arts bodies in Britain stay in business.’arts bodies in Britain stay in business.’
CrowdfundingToday’s Workshop
• What is Crowdfunding?
• How does Crowdfunding work?
• Where to Crowdfund?
• Writing your pitch
• Choosing rewards
• Marketing your campaign
• Keeping in touch with your funders
• Tips and Pitfalls
• Your First StepsThis workshop is powered by GANE and HI-Arts
What is Crowdfunding?
“Survival of the fittest for creative ideas. Lots of people – each giving a small amount – canmake good things happen. The ‘crowd’ decides
what’s good, what’s not, what they want to fundand what they don’t…Good ideas will shine
through and the wisdom of the crowd to fund themis a really exciting prospect.”
Crowdfunder
The Orchestra of the Age of Enlightenment launched their Crowdfunding campaign on wedidthis.org.uk on 23rd October 2011.
For £30For £30 A pint with players from the OrchestraA pint with players from the Orchestra
For £50For £50 Group hug from The Night Shift office teamGroup hug from The Night Shift office team
For £100For £100 Pub deluxe- Q jump, reserved seating (where avail), pork pies and scratchings, a Pub deluxe- Q jump, reserved seating (where avail), pork pies and scratchings, a
round of drinks, tickets (for two)round of drinks, tickets (for two)
For £250For £250
VIP package at a Southbank Night Shift – reserved table, fizz, backstage access (for VIP package at a Southbank Night Shift – reserved table, fizz, backstage access (for four)four)
For £5For £5 A thank you on Twitter and FacebookA thank you on Twitter and Facebook
Night Shift – Pub Tour
Raised £1,255£1,255
(£55 over their target)
with 58 donations58 donations.
On average people donated £20 each£20 each.
What is Crowdfunding?
Let the projects explain… Islington Exhibitshttp://vimeo.com/25142656
Islington Exhibits Artist Residencies
• The crowdfunding campaign finished on 13th July 2011.
• They raised £610 – their target figure
• 13 people pledged donations.
• On average people donated £45.
What is Crowdfunding?
Let the projects explain… Islington ExhibitsMozart’s First Operahttp://vimeo.com/19132303
Mozart’s First Opera
• The Classical Opera Company finished its campaign on 27th
April 2011.
• They raised £10,390.
• 41 people pledged donations.
• On average people donated £250.
What is Crowdfunding?
Let the projects explain… Islington ExhibitsMozart’s First OperaHatastic!http://www.pleasefund.us/projects/hatastic-the-green-closet-at-milan-fashion-week
So far people have pledged an average of £60
How does Crowdfunding work?
In a Nutshell…
1. Pick the creative project or idea you want funded.
2. Identify how much you need to raise.
3. Pick a Crowdfunding website.
4. Identify your story and your pitch.
5. How will you reward your new funders?
6. Tell everyone you know, and those interested in what you do, about it!
Crowdfunding Sites
Crowdfunding Sites
Crowdfunding Sites
Crowdfunding Sites
Crowdfunding Sites
Crowdfunding Sites
Crowdfunding Sites
Crowdfunding Sites
Look for a host that offers support and advice in developing and communicating your project.
Find out how long the site will run your campaign
Check to see if the crowdfunding site charges you for raising funds?
Make sure you read any guidelines or terms and conditions before launching your project.
Setting your Funding Target
• Core costs of the project • Rewards – what additional costs?• Ask for slightly more• Community commitment• Estimate the average pledge
Setting your Funding Target
• Core Costs: £1,000• Rewards: £250
• Total Crowdfunding Target: £1,400
• Community: 50• Estimated Average Pledge: £20
• Total Number of required Pledges: 70
Writing your pitchYou need to make the idea stick in the minds of potential funders…
• Keep it Simple
• Make it Unexpected
• Create a Concrete idea
• Make it Credible
• Find the Emotion
• Tell a Story
Who, What, When, Where and How
14 Questions to Answer
9. Who will be doing it and what are
their qualifications?
10. How will you tell people about it?
11. How much do you want?
12. How much have you raised
yourself?
13. How will the project be evaluated?
14. Who or what will benefit from the
funding of this project?
1. Who are you?
2. Who is your target audience?
3. Why do you need money?
4. Why might the funder be interested?
5. What’s the idea?
6. Why are you the best people to be delivering
this?
7. Where is the activity taking place?
8. When will it be taking place?
Creating a Video
Creating a Video is Essential for:
• Connecting with your funders
• Demonstrating trust and value
• Being clear and concise
• Providing a short and sweet pitch
Creating a VideoWhat type of video? • Interview’s • Documentary • An animation• Photography Slideshow
Pointers• Keep it short and to the point • Clearly relate to the project • Quality of video footage • Editing • Audio • Creativity
What is a Reward?
What is a Reward?
• Your way of saying ‘Thank You’
• Builds support for your future project, cause
and/or organisation.
• Act as a marketing and promotional tactic.
• Must be creative and linked to your campaign.
$10 or more – ‘Amelie’ Reward: 3 unreleased songs sent to you before itunes release.
$20 or more – ‘Jacque Brel’ Reward: Download the album before released on itunes.
$30 or more – ‘Victor Hugo’ Reward: Pre-release copy of signed CD.
$50 or more – ‘Daft Punk’ Reward: 2 tickets to CD release show and signed poster.
$60 or more – ‘The Baguette’ Reward: Hand designed USB ‘baguette’ with all 4 CD albums with new release.
$75 or more – ‘Merci’ Reward: A personal Thank You note on the album.
$100 or more – ‘Merci Beaucoup’ Reward: Will sign your name on the Thank You track on the album.
$150 or more – ‘Jacques Cousteau’ Reward: Visit the studio while recording.
$250 or more – ‘Carla Bruni’ Reward: A French singing lesson.
$300 or more – ‘Chez’ Reward: Home visit for a private 2 hour House Show.
$500 or more – ‘Jacques Pepin’ Reward: 2 hour House Concert and ‘Raclette’ party for 8 people including wine.
Invest £20 and get –
Limited Edition A2, Winter Themed, Sprayed Stencil, numbered and signed.
Invest £40 and get –
A4 watercolour commission, you decide the brief.
Invest £70 and get –
Digital commission in PDF, you decide the brief and printed on A2, signed.
Invest £20 and get –
Limited edition printed t-shirt or canvas bag. The print will be created by the participants
on the project.
Invest £50 and get –
Limited edition signed print from the exhibition, a copy of the final newspaper
publication, the print will be created by the participants.
Invest £100 and get –
Limited edition print created by one of the established artists supporting the project.
£5 or more – A thank you Tweet.
£20 or more – A personal thank you and link of your choice on my Hastastic! Facebook page.
£30 or more – Entry into raffle to win a bespoke commissioned headpiece.
£40 or more – A promotional hat or headpiece made especially for your business event or ad campaign or simply to wear.
£50 or more – 30 minute talk on millinery from Chloe for your charitable or social event, plus a unique Hatastic piece.
£100 or more – Afternoon for up to 5 people for a headpiece making class with Chloe.
£500 or more – Pledge Package: Gratitude on all promotional materials, a handwritten thank you, an exclusive bespoke hat for you or a friend, and a choice of a unique bejewelled piece from the Lost Treasure Collection.
5 people have pledged £5
1 person pledged £20
3 people pledged £30
3 people pledged £50
1 person pledged £100
1 person pledged £500
Why is Crowdfunding relevant to us now?
• It is an enterprising solution to raising funds.
• It’s a new approach which cuts out traditional funding approaches and their requirements.
• It enables communities to mobilise around the things they want to see happen;
• Communities become investors in their own future.
• It mobilises new money when traditional support is less available.
• It is a good indicator of the eventual success of your project.
CrowdfundingCrowdfunding
Getting the word outGetting the word out
The Crowdfunding Sites will promote on your behalf to their networks
Sector Media can promote to the engaged
Your own Websites
Your own Websites
Your own Blogs
Your own Blogs
Other People’s Websites – that will attract your target audience
Other People’s Websites – The participants in the project
Other People’s Blogs – Community news, media, reviews
Other People’s Blogs – in arts and culture
Other People’s Blogs – in your community
Your Social Networking sites
Your Social Networking Sites
Your Social Networking Sites
Your Social Networking Sites
Marketing your projectYour Website – friends, partner and supporter websites (Web Release)
Your Social Networks – friends, partner and supporter social networks (Share)
Your Blog – friends, partner and supporter’s blogs (Blog Release)
Email Your Database – friends, partner and supporter’s forward emails (Links)
eNewsletter – friends, partner and supporter’s newsletters (Links)
Mobile SMS – ask them to share their text (Share)
Community News, Radio, Magazines, Leaflets – local word of mouth (Press Release)
National News, Radio, Magazines – national word of mouth (Press Release)
Presentations – at your events, activities, when selling (Word of Mouth)
Posters, Leaflets, Postcards – For your community or beyond (Promotion)
Letters – contact your fans, supporters, volunteers etc personally (Invite)
Tell everyone you know! Get them to tell everyone they know!
Keeping your funders up-to-date
• Update your Crowdfunding site
Updating your Crowdfunding Site
Keeping your funders up-to-date
• Update your Crowdfunding site • Thank You Cards• Blogging• Social Networking • Personalised Emails • Invitations
TipsCrowdfunding is not the easy option – any and all fundraising is hard!
It helps, but it’s not necessary, to have a pre-existing community of supporters.
Be resourceful –
It can be hard to incentivise people, capture their imagination.
Be clear –
Set a completion date for the campaign, clearly define your goals and
expectations.
Be Informative –
Offer as much information about your project as you can.
Pitfalls
Projects fail if…
• You don’t express clearly the nature of your project.
• Additional information is hard to come across.
• You don’t tell anyone about it.
• There is a lack of communication between yourself and your new funders.
• You don’t follow up on rewards.
• Your project doesn’t fit with the parameters of the Crowdfunding site you choose.
• You choose not to produce a video.
• You forget to build and nurture your online and offline community around your project.
• You promise what you can’t deliver.
• You focus on the negative.
FAQs
• How long does a campaign last?
• What happens when my project reaches its target funding?
• How will I be able to contact my funders?
• What happens if I don’t meet my target?
• What happens if I reach my funding target before the end of the campaign?
• Can I pledge to my own project?
• Will the Crowdfunding site take a cut?
• How do supporters collect their rewards?
Your First Steps towards Crowdfunding
Your First Steps towards Crowdfunding
• The project idea• Delivery dates• Costs to deliver• Crowdfunding Target• What would Crowdfunding support• The benefits of the project• Crowdfunding video• Rewards• Potential donors• Marketing tactics• Keeping funders up-to-date