Make It Rain! A Crowdfunding Masterclass

Charity Comms – Digital Conference

Who We Are

Who We Are

The Goal for Today

In this workshop, we want you to start thinking strategically about your crowdfunding campaign, and give you insights and tips into what you need to do before, during and after in order to hit your target!

Agenda

1. Let’s Get Social!

1. What Is Crowdfunding?

1. Pre-Campaign

2. Live Campaign

3. Post-Campaign

1. Q&A

Let’s Get Social!

What Is Crowdfunding?

What Does It Mean?

• Crowdfunding is a way of raising funds by asking a large number of people to fund a project

• The Internet and social media enables you to appeal to hundreds and thousands of potential funders for support

• Projects that might have previously depended on larger donations are now able to secure backing by smaller donations from a wider network of supporters than ever before

1. Donation or Reward-Based

2. Debt-Based

3. Equity-Based

Platforms

Three Stages of the Crowdfunding Cycle

Perfect Your Messaging

• Crowdfunding is a great way to raise your profile, and do some market testing, too

• Examine what you are saying about yourself online – and how you are saying it

• Keep it short and snappy

• Visual assets are important!

• Personalise rewards and perks to appeal to your target audience

• Reach out to press and media partners

Perfect Your Messaging – Three Questions

1) What are your three core values? Keep them one word each, if you can.

2) Who is your audience?

3) Why should they support you?

If you can’t answer these in a succinct way, you might need to go back to the drawing board!

Visual Assets: Video

• Share a lot of information in very little time

• Keep brief (Indiegogo recommends no longer than 3 minutes)

• Rewards and perks

• Stick to the main points, and keep it short and snappy – include a link to your website for further details

Articulate Your Goals

• Justify your mission – and your target – to your supporters

• Donors are savvy, and they want to know that their money is going where there will be the greatest impact

• Break down the costs

• Most successful campaigns have clearly defined goals

No One Wants to Be First to the Party

• Seeing zero next to ‘amount raised’ might have prospective donors thinking twice

• ‘Everyone wants to be on the party boat – not the sinking ship’

• Consider a ‘soft launch’

• Reach out to people in your network who already support you

Part One Exercise

For your organisation’s crowdfunding campaign, think about the following questions. Compose everything like an ‘elevator pitch’, and keep it brief.

1) What are your three core values? Keep them one word each, if you can.

2) Who is your audience?

3) Why should they support you?

Constant Communication

• Stay proactive with your communications – who is in your network?

• “If you build it, they will come” does NOT apply!

• Consider: - Press- Influencers- Ads- Offline- Events

• Keep your supporters updated

Case Study: Royal Academy of Arts

• Ai WeiWei’s Exhibition: Target of £100,000

• Raised: £123,577 in 5 weeks

• #AskAiWeiWei

• Constantly pushing new content throughout the course of the campaign

• Stephen Fry video attracted a surge in donations

Part Two Exercise

Using social media try to find the degrees of separation between you and the person next to you. How would you engage them online?

Acknowledgement

• Win or Lose: Acknowledgement is key

• Transparency, particularly for charities, is crucial. Keep your donors updated on developments – both good and bad

• New donors – cultivate them!

• Identification, cultivation and soliticitation

Case Study: Doctors of the World

• Target: £5,000

• Raised: £59,945.67

• Re-contacted same donors with Greece and Balkan appeal – greater rate of response due to already engaged audience

• Shared content after the campaign (video of a doctor from the camp)

What’s #Data Got to Do With It?

“Data is the most powerful tool charities have to understand who their enthusiasts are and how they can better communicate with them, in order to build more meaningful relationships that lead to loyalty and increased giving over time.”

How are Charities using Data?

Analytics: Internalising Findings

• Start small and build incrementally

• Talk with your team openly about what your data tells you

• Your strategy will be informed by what you learn through data – always be A/B testing!

• A data-led digital culture is based on learning and growing, and is flexible and evidence-based

• Use data to understand the wants and needs of your supporters, and keep them connected with your cause

Part Three Exercise

Using the text and the images provided in the worksheet, map out how you would A/B test this content for Twitter over a week-long period.

Should You Crowdfund?

Any Questions?

Our Publications

www.socialmisfitsmedia.com/publications

The Latest:

Make It RainTips & Tricks for #Crowdfunding Success

www.socialmisfitsmedia.com

info@socialmisfitsmedia.com @MisfitsMedia

Visit the CharityComms website

to view slides from past events,

see what events we have

coming up and to check out

what else we do:

www.charitycomms.org.uk

27 October 2016

London

#charitydigital

Digital

conference