crowdfunding: how it works, why it works, and how it can work for you

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Housekeeping

Write down 3 thingsCaveats & biases

[email protected] / @bradyjosephson peergiving.com / chimp.net / recharity.ca

Crowdfunding is growing rapidly and driven by social causes

Choosing a project & setting a goalSMART● Specific● Measurable● Attainable● Relevant● Time bound

Simple case● Why care?● Why you?● Why now?

What are you hoping to raise, by when, to impact who and how?

Develop your story & stories

• Social Currency• Triggers• Emotion• Public• Practical Value• Stories

• Simple• Unexpectedness• Credibility• Concreteness• Emotion• Stories

There are different story types you can use in your campaign for different reasons.

Story Types– Genesis– Future– Beneficiary– Staff– Donor/Supporter

Tell your desired future story of what’s possible to inspire.

Story Types– Genesis– Future– Beneficiary– Staff– Donor/Supporter

Tell a client story to personalize and move emotionally.

Story Types– Genesis– Future– Beneficiary– Staff– Donor/Supporter

Tell the donor/supporter story to show the power in everyday people and others aren’t in it alone.

Story Types– Genesis– Future– Beneficiary– Staff– Donor/Supporter

Choosing a platform5 Questions

1. Do you need/want the donor information?2. How much brand control do you want?

3. Do you want a tool that can access a pool of supporters?

4. Do you want to provide updates during and after the project?

5. How do you prefer to pay for the project?

Control vs. CostYOURSClassyArtezPeer GivingNetwork for GoodBlackbaudCauseVox

THEIRSCanadaHelpsChimpIndiegogoCrowdRiseKickstarterFundlyRazoo

Choose the best platform for them.

Adding incentives

Setting up your campaign

● Keep it simple○ Add layers (and links) as needed and as you go

● Use videos and images● Add social and social tools

○ Hashtag to use and follow

Videos, quick starts and audience are all keys to successful projects/campaigns.

Recruiting supporters● Regular, loyal and

monthly supporters● Volunteers and board

members● Companies and corporate

partners● Younger supporters and

followers

Supporting Your Supporters

Update on status & Final Emails

● Let people know how close you are to reaching your goal

● Post stories○ Future○ Beneficiary○ Donor/Supporter

● Send out your own round of emails● Encourage fundraisers to email (again)

Thanking & Reporting

● Hopefully as you go, definitely at the end● Treat fundraisers more like major donors● Give the final results of the campaign

○ In ways that are meaningful to supporters● Close the loop

Resources

● Made to Stick● Winning the Story Wars● Science of Giving● charitywater.org● classy.org● hatchforgood.org