go fund yourself: a primer on crowdfunding
DESCRIPTION
Presented at AFP Fundraising Day in Toronto. June 5, 2013. Learn about one of the newest social media and marketing tool on the market: crowdfunding. From bullied bus monitors (Karen Klein) to high-tech watches (Pebble), crowdfunding has raised millions of dollars for individuals and organizations. We'll cover the history and basics of crowdfunding, the different platforms that are available and things to keep in mind as you develop your own campaigns. We will also cover how to successfully integrate crowdfunding into your funding ecosystem, along with best practices and cautionary tales. Learning Outcomes Learn how crowdfunding works Learn about different crowdfunding platforms Learn if your organization will benefit from crowdfunding Learn how to implement a crowdfunding campaignTRANSCRIPT
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Go Fund Yourself: A Primer on Crowdfunding
AFP Fundraising DayJune 5, 2013
Jason Shim, RHBPathways to Education Canada
#FRday13GOFY@jasonshim
What is the most interesting/fun way you could spend $20? Text your answer
or tweet #FRday13GOFY
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CROWDFUNDING
#FRDay13GOFY @JasonShim
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HISTORY
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2007 was the perfect digital storm.
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3 million donors 6.5 million donations online$500 million. 6 million < $100
Average donation: $80
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Kickstarter
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Pebble
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Bearlove good, cancer bad
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Tesla Museum
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So what?
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Case Study: Economics Camp!
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$
#FRDay13GOFY @JasonShim
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$?
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$?!
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1. Specific Goal
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1. Specific Goal2. Urgency
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1. Specific Goal2. Urgency3. Reward
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#FRDay13GOFY @JasonShim
You're not asking for money.You’re providing an opportunity.
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Pop Quiz
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Marketing Crowdfunding
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Marketing? Without virality
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Video
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Ask yourself: Is it likeable?
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If you want to share,make it square!
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Perks
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People don't care about stuff.People care about people.
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#FRDay13GOFY @JasonShim
People don't care about stuff.People care about people.People care about how stuff
makes them feel.
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Perks
8 personalized emails @ $257 postcards @ $505 videos @ $100Perks: $1050
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#FRDay13GOFY @JasonShim
Have a backup plan
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Sometimes the backup plan is having none.
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The Numbers
Visitors - 389 Views - 725 Funders - 39 (Avg donation of $51)Contributions - $2,000 Favorites - 28 Referrals* - 434 * Referrals is the number of visits that result from someone sharing your
campaign using widgets, facebook, twitter and emails
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Disbursements
$2000 raised
$1835 collected(8.25% in fees)
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Case Study: Carl Wagan
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Lessons learned:-Marketing-Perk delivery-Unintended benefits
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When to Use Crowdfunding
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When to use Crowdfunding
- limited timeframe
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#FRDay13GOFY @JasonShim
When to use Crowdfunding
- limited timeframe
- highly personal cause
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#FRDay13GOFY @JasonShim
When to use Crowdfunding
- limited timeframe
- highly personal cause
- project-based
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#FRDay13GOFY @JasonShim
When to use Crowdfunding
- limited timeframe
- highly personal cause
- project-based
- untapped network of supporters
![Page 97: Go Fund Yourself: A Primer on Crowdfunding](https://reader034.vdocuments.site/reader034/viewer/2022051818/54c21a7e4a79593a088b4664/html5/thumbnails/97.jpg)
#FRDay13GOFY @JasonShim
When to use Crowdfunding
- limited timeframe
- highly personal cause
- project-based
- untapped network of supporters
- highly engaged staff
![Page 98: Go Fund Yourself: A Primer on Crowdfunding](https://reader034.vdocuments.site/reader034/viewer/2022051818/54c21a7e4a79593a088b4664/html5/thumbnails/98.jpg)
#FRDay13GOFY @JasonShim
When to use Crowdfunding
- limited timeframe
- highly personal cause
- project-based
- untapped network of supporters
- highly engaged staff
- good digital capacity
![Page 99: Go Fund Yourself: A Primer on Crowdfunding](https://reader034.vdocuments.site/reader034/viewer/2022051818/54c21a7e4a79593a088b4664/html5/thumbnails/99.jpg)
#FRDay13GOFY @JasonShim
When not to use Crowdfunding
- substitute for regular fundraising
![Page 100: Go Fund Yourself: A Primer on Crowdfunding](https://reader034.vdocuments.site/reader034/viewer/2022051818/54c21a7e4a79593a088b4664/html5/thumbnails/100.jpg)
#FRDay13GOFY @JasonShim
When not to use Crowdfunding
- substitute for regular fundraising
- for general operational funds
![Page 101: Go Fund Yourself: A Primer on Crowdfunding](https://reader034.vdocuments.site/reader034/viewer/2022051818/54c21a7e4a79593a088b4664/html5/thumbnails/101.jpg)
#FRDay13GOFY @JasonShim
When not to use Crowdfunding
- substitute for regular fundraising
- for general operational funds
- limited digital / marketing capacity
![Page 102: Go Fund Yourself: A Primer on Crowdfunding](https://reader034.vdocuments.site/reader034/viewer/2022051818/54c21a7e4a79593a088b4664/html5/thumbnails/102.jpg)
#FRDay13GOFY @JasonShim
When not to use Crowdfunding
- substitute for regular fundraising
- for general operational funds
- limited digital / marketing capacity
- limited network
![Page 103: Go Fund Yourself: A Primer on Crowdfunding](https://reader034.vdocuments.site/reader034/viewer/2022051818/54c21a7e4a79593a088b4664/html5/thumbnails/103.jpg)
#FRDay13GOFY @JasonShim
Questions received
What are preferred platforms?
![Page 104: Go Fund Yourself: A Primer on Crowdfunding](https://reader034.vdocuments.site/reader034/viewer/2022051818/54c21a7e4a79593a088b4664/html5/thumbnails/104.jpg)
#FRDay13GOFY @JasonShim
Questions received
What are preferred platforms?
![Page 105: Go Fund Yourself: A Primer on Crowdfunding](https://reader034.vdocuments.site/reader034/viewer/2022051818/54c21a7e4a79593a088b4664/html5/thumbnails/105.jpg)
#FRDay13GOFY @JasonShim
Questions received
What are preferred platforms?
![Page 106: Go Fund Yourself: A Primer on Crowdfunding](https://reader034.vdocuments.site/reader034/viewer/2022051818/54c21a7e4a79593a088b4664/html5/thumbnails/106.jpg)
#FRDay13GOFY @JasonShim
Questions received
What are preferred platforms?
How to not cannibalize donors willing to give more?
![Page 107: Go Fund Yourself: A Primer on Crowdfunding](https://reader034.vdocuments.site/reader034/viewer/2022051818/54c21a7e4a79593a088b4664/html5/thumbnails/107.jpg)
#FRDay13GOFY @JasonShim
Questions received
What are preferred platforms?
How to not cannibalize donors willing to give more?
How does this differ from a public capital campaign or micro monthly donations?
![Page 108: Go Fund Yourself: A Primer on Crowdfunding](https://reader034.vdocuments.site/reader034/viewer/2022051818/54c21a7e4a79593a088b4664/html5/thumbnails/108.jpg)
![Page 109: Go Fund Yourself: A Primer on Crowdfunding](https://reader034.vdocuments.site/reader034/viewer/2022051818/54c21a7e4a79593a088b4664/html5/thumbnails/109.jpg)
![Page 110: Go Fund Yourself: A Primer on Crowdfunding](https://reader034.vdocuments.site/reader034/viewer/2022051818/54c21a7e4a79593a088b4664/html5/thumbnails/110.jpg)
#FRDay13GOFY @JasonShim
Best Practices
![Page 111: Go Fund Yourself: A Primer on Crowdfunding](https://reader034.vdocuments.site/reader034/viewer/2022051818/54c21a7e4a79593a088b4664/html5/thumbnails/111.jpg)
#FRDay13GOFY @JasonShim
Dance Floor
![Page 112: Go Fund Yourself: A Primer on Crowdfunding](https://reader034.vdocuments.site/reader034/viewer/2022051818/54c21a7e4a79593a088b4664/html5/thumbnails/112.jpg)
#FRDay13GOFY @JasonShim
Dance Floor
The 30% rule
![Page 113: Go Fund Yourself: A Primer on Crowdfunding](https://reader034.vdocuments.site/reader034/viewer/2022051818/54c21a7e4a79593a088b4664/html5/thumbnails/113.jpg)
#FRDay13GOFY @JasonShim
Marketing based on milestones
![Page 114: Go Fund Yourself: A Primer on Crowdfunding](https://reader034.vdocuments.site/reader034/viewer/2022051818/54c21a7e4a79593a088b4664/html5/thumbnails/114.jpg)
#FRDay13GOFY @JasonShim
Perks rewarding your fundersIs it a good deal?
![Page 115: Go Fund Yourself: A Primer on Crowdfunding](https://reader034.vdocuments.site/reader034/viewer/2022051818/54c21a7e4a79593a088b4664/html5/thumbnails/115.jpg)
#FRDay13GOFY @JasonShim
Have a logistical plan for perks
![Page 116: Go Fund Yourself: A Primer on Crowdfunding](https://reader034.vdocuments.site/reader034/viewer/2022051818/54c21a7e4a79593a088b4664/html5/thumbnails/116.jpg)
#FRDay13GOFY @JasonShim
Videos bring in 114% more funding
![Page 117: Go Fund Yourself: A Primer on Crowdfunding](https://reader034.vdocuments.site/reader034/viewer/2022051818/54c21a7e4a79593a088b4664/html5/thumbnails/117.jpg)
#FRDay13GOFY @JasonShim
PLAN. PLAN. PLAN
![Page 118: Go Fund Yourself: A Primer on Crowdfunding](https://reader034.vdocuments.site/reader034/viewer/2022051818/54c21a7e4a79593a088b4664/html5/thumbnails/118.jpg)
#FRDay13GOFY @JasonShim
Communicate!
![Page 119: Go Fund Yourself: A Primer on Crowdfunding](https://reader034.vdocuments.site/reader034/viewer/2022051818/54c21a7e4a79593a088b4664/html5/thumbnails/119.jpg)
#FRDay13GOFY @JasonShim
Reality Check
![Page 120: Go Fund Yourself: A Primer on Crowdfunding](https://reader034.vdocuments.site/reader034/viewer/2022051818/54c21a7e4a79593a088b4664/html5/thumbnails/120.jpg)
#FRDay13GOFY @JasonShim
50% of projects succeed
![Page 121: Go Fund Yourself: A Primer on Crowdfunding](https://reader034.vdocuments.site/reader034/viewer/2022051818/54c21a7e4a79593a088b4664/html5/thumbnails/121.jpg)
#FRDay13GOFY @JasonShim
1. Specific Goal2. Urgency3. Reward
Crowdfunding Takeaways
![Page 122: Go Fund Yourself: A Primer on Crowdfunding](https://reader034.vdocuments.site/reader034/viewer/2022051818/54c21a7e4a79593a088b4664/html5/thumbnails/122.jpg)
#FRDay13GOFY @JasonShim
1. Specific Goal2. Urgency3. Reward
Crowdfunding Takeaways
Capture the Imagination
![Page 123: Go Fund Yourself: A Primer on Crowdfunding](https://reader034.vdocuments.site/reader034/viewer/2022051818/54c21a7e4a79593a088b4664/html5/thumbnails/123.jpg)
#FRDay13GOFY @JasonShim
Questions?
![Page 124: Go Fund Yourself: A Primer on Crowdfunding](https://reader034.vdocuments.site/reader034/viewer/2022051818/54c21a7e4a79593a088b4664/html5/thumbnails/124.jpg)
#FRDay13GOFY @JasonShim
![Page 125: Go Fund Yourself: A Primer on Crowdfunding](https://reader034.vdocuments.site/reader034/viewer/2022051818/54c21a7e4a79593a088b4664/html5/thumbnails/125.jpg)
#FRDay13GOFY @JasonShim
![Page 126: Go Fund Yourself: A Primer on Crowdfunding](https://reader034.vdocuments.site/reader034/viewer/2022051818/54c21a7e4a79593a088b4664/html5/thumbnails/126.jpg)
#FRDay13GOFY @JasonShim