social media and crowdfunding

8/7/2019 Social Media and Crowdfunding

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Social Media and

CrowdfundingPaul Dombowsky & Evelyn So


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Time: 8:30 to 10:30am

Speakers: Paul Dombowsky

Founder and ceo of Ideavibes / Fundchange

Evelyn So

Founder of Noesium

Follow-up: Slides

Workshop Overview

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8:30 Introductions and Format

8:45 Social Media Overview by Evelyn So

Experience from the trenches - what are people experiencing

Impact on fundraising efforts

9:15 Crowdfunding by Paul Dombowsky

What is it and how can you use it?

Options for engaging a new generation of donors

Project based or doable ask focused fundraising

10:00 Fundchange.com what is it and how can you participate

10:00 Wrap-up and Questions

Agenda

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A crowd

Business challenge / problem / question you want answered ideas

A process and tool for engagement

Trust and commitment in your crowd to take action

Key performance indicators what does success look like?

Proof of action your crowd wants to see what happened

Crowdfunding - what do you need?

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Donor Generations

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Millennials (born 91 and after) - ?

Millennials (born 91 and after) - ?

Gen Y (born 81-91) Avg Donation $325

Gen Y (born 81-91) Avg Donation $325

Gen X (born 65-80) Avg Donation $549

Gen X (born 65-80) Avg Donation $549

Boomers (born 46-64) Avg Donation $725

Boomers (born 46-64) Avg Donation $725

Civics (born 45 or earlier) Avg Donation $833

Civics (born 45 or earlier) Avg Donation $833


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Where

Donors are Giving

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0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0%

Checkout Donation

Fundraising Event

Tribute G

ift

Charity Gift Shop

Online via Website

Mailed Gift

Monthly DebitIn Lieu of Gift

Phone

Third Party Vendor

SMS

Social Network Site


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Fundraising Trends and Challenges in the Canadian Direct Marketing

Sector, a research paper from 009 by Cornerstone Group of Companies

shows:

donors who make their first gift to an organization online as opposed to viadirect mail have a much higher average gift

$73 vs. $30

There are now more than 4 times the number of new donors, perorganization, from online initiatives than 5 years ago (9M to 40M).

Online Giving

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Who is your crowd?

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Donors

ProspectsEventAttendees

MailingLists

DonorsNetwork

Prospects

Network

EventAttendeesNetwork

Mailing ListsNetwork

The crowd you know The crowd you dont know

Social Media Makes

the Connection


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Projects or

Doable

Asks

Easier for most people to wrap their head

around a smaller project as opposed to a

cure or a hospital wing Examples:

Piece of medical equipment

Stream revitalization

Education program

Conference attendance

Sports equipment for a couple kids


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Post

Promote

Share

Search/Fi

lterFund

Receipt

Report

Costs:

$99 + hst to join

includes 2 postings

3.9% processing fee

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Examples: Fundchange


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Post

Promote

Fund

Report

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Examples: Crowdrise (US only)


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Its social the crowd promotes projects it likes

Its social the crowd wont promote projects that arent

shareable

Success comes to those that are actively building a crowd A challenge for organizations new to social media

Its the free market at work

Its the free market at work

Build stickiness to the project

Need to pay attention to write-up to inspire funders

Benefits & Challenges

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Things to keepin mind:

Crowdfunding success comes quickest to organizations that are social

media aware and engaged. If your organization is not yet social media-enabled, it will take time and human and financial resources to do so.

Because your efforts are only as good as the crowd you are able to mob ilize

to your cause, it makes sense that your organization strategically manages

and promotes its brand online.

Make sure your target audience is online and will give online

If you opt to post your projects on established crowdfunding sites, do your

homework be careful of the company you keep.

Integrating Crowdfunding into your Organization

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Donor stats, etc. came from The Next Generation of

Canadian Giving Nov. 2010 by Vinay Bhagat, et al

The Wisdom of Crowds book by James Sudwecki

Crowdsourcing book by Jeff Howe Fundraising Trends and Challenges in the Canadian Direct

Marketing Sector, a research paper released in 2009 by

Cornerstone Group of Companies

Resoruces

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Thank youPaul Dombowsky | 613.878.1681 | [email protected]

Evelyn So | 647.223.3804 | [email protected]

social media and crowdfunding

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