Case 2012 crowdfunding session to share

Crowdfunding live! Jason Potts, THINK, jason@thinkcs.org

jason@thinkcs.org jason.sean.potts JasonSeanPotts

“Geek-free workshop”

Please ask if it doesn’t make sense!

But only in Clingon

Why is it important?

Different shapes & sizes?

Key ingredients?

An experiment

http://www.kiva.org/lend/?

1

2

I’m helping X from X reach his target of $X by the end of today to fund X http://www.kiva.org

/lend/? pls join in :)

http://www.kiva.org/lend/?

What is Crowdfunding?

http://tinyurl.com/d4vlnqa - infographic

1997 - US fans of Marillion underwrite US tour to the tune of $60,000.

2001 - The most universal example of Crowdsourcing – Wikipedia was launched, I billion edits and counting and not one editor on the payroll.

End 2001 – 2.6 m people use JustGiving to raise money.

2004 - Kiva.org was launched, over $300 million in loans and counting.

2008 - Cancer Research UK, MyProjects, raises £1 million whilst still in beta.

2012 - Amanda Palmer, cult US musician, raises $1 million on Kickstarter from 25,000 fans in a month to fund her new record!

ORG

.ORG

(Thanks t

o A

my W

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ysam

ple

wa

rd.o

rg)

1. People coming together to jointly fund a specific project(s) or initiative(s)

2. Can be focused around important dates (like someone's birthday or sponsor a day)

3. Accountable & transparent (specific amount needed for a specific purpose and can see the target and how many other people have helped so far)

4. Usually spread through online social interactions, people don't have to know each other to do this (viral growth through friends of friends)

5. Time limited in the main or at least structured to a deadline/inbuilt conclusion of some kind

Why is it important?

9

$1.6

Billion $6.2

Billion

2009 2013

http://tinyurl.com/cff56nz - eConsultancy report

Amanda Palmer, cult

US musician, raised a

million dollars from

25,000 fans on

in a month to fund her

new record!

Raised a million whilst

in Beta

Roughly 2/3rds of people who donated are new to the

charity

It comes in many shapes and sizes?

1. MICROFINANCE LENDING - http://vimeo.com/28413747

2. BUY THE PARTS TO BUILD THE WHOLE

3. CHOOSE A DAY

4. BRINGING REAL PROJECTS TO LIFE

Case Study

5. CROWDFUNDING LIVE & EXCLUSIVE

6. INSPIRED BY AN INDIVIDUAL

7. THE CROWD IS THE POINT

8. DON’T HIT TARGET, DON’T GET THE MONEY

• 780 people entered

• 22,847 votes were cast

by 3,471 people

• Averaged 3,200 votes

per week during the

campaign

9. CAN ALL HAPPEN IN A SOCIAL SPACE

10. INVOLVING THE CROWD (NOT JUST MONEY)

Key ingredients?

Start with...

A QUIZ OR A VIDEO

How can you be

more

transparent?

Yay

Boo

How can you

give donors

more choice?

Start with...

A QUIZ OR A VIDEO

How can you make

your online donation

experience more

social?

How can you use

gamification?

IDEA: What’s

your version

of Crowds

FEASIBILITY: Project(s),

content,

reporting

HOW: Platform,

self build or

integrated

MECHANICS: Timings, target,

success!

PROMO: Influencers, viral

spread

ONGOING: Running the

campaign

The results

THANK YOU & QUESTIONS

jason@thinkcs.org jason.sean.potts JasonSeanPotts