my journey of crowdfunding
DESCRIPTION
MY JOURNEY Of CROWD FUNDING to Build a tool to Crowd fund BETTERTRANSCRIPT
MY JOURNEY Of
CROWDFUNDINGto
Build a tool to Crowdfund BETTER
The Numbers
2.3% Backer Rate
Most popular pledge: $25
Average pledge: $75
IG: 80%, KS: 56%
Average campaign: IG: $3700, KS : $5000
Successful ones: 30% of the funding from friends and family, within few days
Perks: 9 Levels
Average duration: IG:47, KS: 29-41 days
Pre-launch 3 to 9 months, full time job
Up to 65% Spend on Collection
KS
IG
Others
Should/Could/How do I?.....
Better Strategy throughLessons learned from others
Lesson 1
THE PRE LAUNCH
NOT THE CAMPAIGN …10, 9, 8, 7 , 6.. and “Zero”..
Crowd Funding
Crowd
Connect Emotionally Engage repeatedly
→ Invest emotionally (Soft Invest)→ Hard $ Invest
LESSON 2
Tribe
Tribe
Strategy
Crowd Vs Tribe
• A Tribe is built on:– Transparency, – Integrity– Credibility,– Common Interests/Shared Goals
» Founder Vs Funder– Engagement- Creative Process.– Continuous Feedback- Action– Emotional Connection
• Tribe stays with you during pre campaign, during the campaign and post campaign.
• Tribe is built from backers, influencers and their social network • Online tools available
Building A Tribe
Find Crowd
Story & The
Telling Get
Involved
Involve
Finding My Tribe
InCrowd Vs OutCrowd aka Backers Vs Influencers
1. Alumni Associations2. Company Events 3. Non Profits4. Networking Associations (GPSEG, PSL….)5. CrowdFunders (Kickstarter, Indiegogo, GoFundMe… Crowdcube, Fundable,
and Seedrs ) http://www.crowdcrux.com/10-best-kickstarter-alternatives/6. Crowd Funding consultants7. Change.org8. Flattr.com9. LinkedIn Groups (CrowdFunding, CrowdSourcing). Connect10. http://www.cofounderslab.com/11. http://www.pitchfuse.com/12. http://www.nlcfa.org/13. http://www.nlcfa.org/official-sponsors.html14. Entrepreneurs. Schools (Temple, Drexel) fs15. Crowdfunding Bloggers/Media16. Other NCFRA (other crowdfunding association)
The TellingChannels,
Would you share it?
Why, How, What, Why of Quality SM Sharing http://goo.gl/aDbvDp
The Story
the story- 3 Cs.
Connect Emotionally
Convince Right brain
Compel Action
Theme“Helping to build a tribe by
fostering Trust, empathy and emotional connection, loyalty through
Integrity, transparency and collaboration resulting in emotional and financial investment”
Once upon a time..
Failure is an option
– My Tribe will carry me even if my campaign is a failure
– It is a learning process.– It is hard work, but fun
Funding Is Fun and Humane again
Human 2 Human
• Relationship• Trust• Word of mouth• Integrity• Credibility• Friends and Family
Resources
• Success Criteria Stats: http://goo.gl/QqUxTI• Effective SocialSharing: http://goo.gl/aDbvDpr• Prelaunch: Thunderclap, Pitchfuse,Prefundia, Linkedin Groups• Blog:
– CrowdCrux.com,– Simple trick to find bloggers: http://vimeo.com/77560606– http://launchopolis.com/campaigns/
• PR: CrowdfundingPr.com• Campaign Calculator : http://reubenpressman.com/kickstarter/• http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2088298