june 2015 toronto net tuesday: crowdfunding
TRANSCRIPT
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Crowdfunding Guide for Nonprofits and Charitable Organizations
Christopher Charlesworth Email: [email protected] Twitter: @hivewireCA
© 2015, All rights reserved HiveWire Inc. & Centre for Social Innova?on
June 9, 2015
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© 2014, All rights reserved HiveWire Inc. 2
About Us
Christopher Charlesworth Co-Founder
Asier Ania Co-Founder
Kris Olafson CTO
Moira Klein-‐Swormink Finance
Arthur Prevot Data Scientist
Crowdfunding Guidebook: bit.ly/ESDCstrategyguide
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Consulting and Workshops
© 2014, All rights reserved HiveWire Inc. 3
Workshops • Over 45 workshops to date • Government, non-‐profit and chari?es,
corporate • Crowdfunding strategy development
Consulting • Individual campaign consul?ng • Rapid Campaign Audit • Campaign De-‐Risking
Analytics • Custom research • Reports • Trend iden?fica?on and analysis • Innova?on surfacing
Platforms • Build custom crowdfunding
plaSorms • Tailor features to strategic objec?ves
of client
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What is: Crowdsourcing ?
CrowdFunding: Fund something
~$300 M in funding in 2012
CrowdWisdom: Solve a Problem 75% of people in the crowd
already knew the solu?on.
CrowdVoAng: Select something
Very basic and employed by many sites
CrowdLabour: Complete tasks Millions or workers
comple?ng simple tasks
CrowdCreaAon: Create something Army of graphic
designers at your service
CrowdAdvocacy: Support something People-‐powered poli?cs to
decision making.
The practice of obtaining needed services, ideas, or content by soliciting contributions from a large group of people - Wikipedia
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Stakeholder Engagement Process:
• Stakeholder Registra?on • Stakeholder Discussion Guide • Workshop • Survey
List of Nonprofits consulted: 1. Halifax Tool Library 2. Community Canoe 3. Cul?vateTO 4. RegentParkFocus 5. Not far from the tree 6. FaceValue 7. WindFest 8. Henry Vanderspek (project with
Photographers Without Borders) 9. African Women Ac?ng 10. Canadian Arab Ins?tute 11. Youth Climate Report 12. City Seed Farms 13. Dreamweavers 14. Our Horizon 15. Match Interna?onal 16. Steele Family Founda?on
March 16, 2015 Workshop (in-‐person and live streamed)
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VS.
à The Focus of the publication is on the two most relevant forms of crowdfunding for nonprofits and charities
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Industry Statistics & Data
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Industry Statistics & Data
à Our data has shown that nonprofits and charitable participation in crowdfunding continues to grow rapidly.
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Industry Statistics & Data
à Nonprofits and charities from all sectors are using crowdfunding
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Industry Statistics & Data
à Participation is Canada wide, although concentrated in BC, Ontario and QC
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Key Factors of Success
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Building Your Campaign
à Participation is Canada wide, although concentrated in Ontario and Quebec
Why People Back Your Campaign • Shared passion • Solidarity • Tax deduc?on • Emo?onal connec?on • Par?cipa?on • Kindred Spirits • Entertainment • En?cing Rewards
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Rewards
à Campaigns with rewards are clearly more successful
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Rewards: Metrics of Success
à Data was analyzed to demonstrate best practice, and included in multiple infographics throughout the document
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Marketing Your Campaign
à We build the document to lead the audience through critical steps
Planning Your Marketing Campaign • Why Plan? • Get Organized Preparing Your Networks • Gather • Assess • Build • Engage • Communica?ons Plan
Conducting Your Campaign • Work in Advance • Using Tools • Coordinate Your Messaging Optimizing Your Marketing • Market Segmenta?on • Social Media • Customer Service • Tes?ng
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Referral links were included
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Reward fulfillment -‐ If you’ve included rewards in your campaign you should get started right away in gekng them out the door. Thank you messages -‐ Remember to thank the donors to your campaign, backers, supporters, and of course any volunteers. Managing expectaAons -‐ If you have any hiccups in reward fulfillment or execu?on of your project, we encourage you to be as transparent as possible. Nurture new relaAonships -‐ Those that have that backed your campaign represent an important new connec?on that you should foster, in the hope of turning them into future: backers, partners, clients, champions, volunteers, employees, sponsors, etc.
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Lessons Learned
• “We underes9mated the 9me commitment involved.” • “We didn’t test our campaign adequately.” • “No one wanted a t-‐shirt for $200.” • “We didn’t realize how important having a video was.” • “We didn’t conduct enough planning.” • “We learned that pushing to launch our campaign in 9me for our event
was not more important than being ready to crowdfund.” • “We didn’t factor in the 9me and costs (such as shipping) of the rewards
properly.” • “We didn’t no+fy our en+re organiza+on or stakeholders properly.”
à There is a clear need for education about crowdfunding within the nonprofit and charitable sectors
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Fact Sheets
à Practical tools and tips were provided on comprehensive fact sheets
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New Crowdfunding Rules
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ParAcipaAng JurisdicAons: • Bri?sh Columbia • Saskatchewan • Manitoba • Quebec • New Brunswick • Nova Sco?a
Restric?ons: Cap of $250K per raise, max $500K in calendar year.
à Equity Crowdfunding Approved in Canada
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Case Studies – Value Creation is King
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Case Studies – Value Creation is King
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Case Study
• Rooerdam, Netherlands • Crowdfunded wooden pedestrian bridge • Will span 350 meters, 17K individual wooden planks • Can inscribe name or any text of funders choice • Length of bridge determined by number of planks
purchased. • Construc?on has started
Stats:
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Goal: ~ €425 000 Raised: > €100,000 People: > 1,000 Platform: I Make Rotterdam
Source: hop://en.imakerooerdam.nl/
• Urban Innovation is happening • Novel method for engagement • No public money
The Luchtsingel
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215 Spadina Ave, Suite 400, Toronto, ON
Canada M5T 2C7
[email protected] [email protected]
Thank you.
Workshops Workshops Presentations
Data Speaking Engagements
Analytics
Seminars
Platform Development Consulting
Workshops Workshops
Data
Analytics
Seminars
Platform Development Consulting Data
Presentations
bit.ly/ESDCstrategyguide