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Crowdfunding Workshop in Orkney

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‘It was the revolutionary fundraising model that swept Barack Obama to power – and it could help arts bodies in Britain stay in business.’

Are you constantly looking for the right funding route but coming up empty handed? Are you looking for alternative routes to fund your project that doesn’t rely on public bodies? Would you like to start engaging people with your project now? Crowdfunding could be your answer.

Crowdfunding is a modern, online and interactive way to raise funds directly from the public – or the Crowd – for your projects and activities. With the advent of Crowdfunding we can now turn our audiences into supporters and funders, by collecting multiple small donations online and offering unique incentives to encourage giving, not only can you raise funds to get your project of the ground but you can start to build a ‘buzz’ around it before hand.

The workshop will cover all the aspects you will need to create, implement and market your Crowdfunding project. Including:
• How does Crowdfunding work?
• Where can I crowdfund – what platforms are available?
• How to write the perfect pitch.
• Choosing the right rewards.
• Marketing your crowdfunding project.
• Engaging, thanking and keeping in touch with your new funders.
• Marketing your progress.
• Your next steps.

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Crowdfunding Workshop in Orkney

  1. 1. ‘It was the revolutionary fundraising model thatswept Barack Obama to power – and it could help arts bodies in Britain stay in business.’ Crowdfunding for the Arts, Cultural and Creative sector
  2. 2. CrowdfundingToday’s Workshop• What is Crowdfunding?• How does Crowdfunding work?• Where to Crowdfund?• Writing your pitch• Choosing rewards• Marketing your campaign• Keeping in touch with your funders• Tips and Pitfalls• Your First Steps This workshop is powered by HI-Arts
  3. 3. What is Crowdfunding? “Survival of the fittest for creative ideas. Lots of people – each giving a small amount – can make good things happen. The ‘crowd’ decides what’s good, what’s not, what they want to fund and what they don’t…Good ideas will shinethrough and the wisdom of the crowd to fund them is a really exciting prospect.” Crowdfunder
  4. 4. The Orchestra of the Age of Enlightenment launched their Crowdfunding campaign on wedidthis.org.uk on 23rd October 2011.
  5. 5. For £5 A thank you on Twitter and Facebook For £30 A pint with players from the Orchestra For £50 Group hug from The Night Shift office team For £100Pub deluxe- Q jump, reserved seating (where avail), pork pies and scratchings, a round of drinks, tickets (for two) For £250 VIP package at a Southbank Night Shift – reserved table, fizz, backstage access (for four)
  6. 6. Night Shift – Pub Tour Raised £1,255 (£55 over their target) with 58 donations. donationsOn average people donated £20 each. each
  7. 7. Islington Exhibits Artist Residencies• The crowdfunding campaign finished on 13th July 2011.• They raised £610 – their target figure• 13 people pledged donations.• On average people donated £45.
  8. 8. Meme• Plum’s crowdfunding campaign ended on October 15th 2011.• She raised £5,040 (101% of her target)• 137 people backed her project.• On average people donated £36.
  9. 9. Hatastic!• The Hastistic crowdfunding campaign ended in February 2011.• She raised £1,532.50 (102% of her target)• 22 people pledged to support her target.• On average people donated £69.
  10. 10. How does Crowdfunding work?In a Nutshell…1. Pick the creative project or idea you want funded.2. Identify how much you need to raise.3. Pick a Crowdfunding website.4. Identify your story and your pitch.5. How will you reward your new funders?6. Tell everyone you know, and those interested in what you do, about it!
  11. 11. Where to Crowdfund?
  12. 12. Look for a host that offers support and advice in developing and communicating your project.
  13. 13. Find out how long the site will run your campaign
  14. 14. Check to see if the crowdfunding site charges you for raising funds?
  15. 15. Make sure you read any guidelines or terms and conditions before launching your project.
  16. 16. Setting your Funding Target• Core costs of the project• Rewards – what additional costs?• Ask for slightly more• Community commitment• Estimate the average pledge
  17. 17. Setting your Funding Target• Core Costs: £1,000• Rewards: £250• Total Crowdfunding Target: £1,400• Community: 50• Estimated Average Pledge: £20• Total Number of required Pledges: 70
  18. 18. Writing your pitchYou need to make the idea stick in the minds of potential funders…• Keep it Simple• Make it Unexpected• Create a Concrete idea• Make it Credible• Find the Emotion• Tell a Story Who, What, When, Where and How
  19. 19. 14 Questions to Answer1. Who are you? 9. Who will be doing it and what are2. Who is your target audience? their qualifications?3. Why do you need money? 10. How will you tell people about it?4. Why might the funder be interested? 11. How much do you want?5. What’s the idea? 12. How much have you raised yourself?6. Why are you the best people to be delivering 13. How will the project be evaluated? this? 14. Who or what will benefit from the7. Where is the activity taking place? funding of this project?8. When will it be taking place?
  20. 20. Creating a VideoCreating a Video is Essential for:• Connecting with your funders• Demonstrating trust and value• Being clear and concise• Providing a short and sweet pitch
  21. 21. Creating a VideoWhat type of video?• Interview’s• Documentary• An animation• Photography SlideshowPointers• Keep it short and to the point• Clearly relate to the project• Quality of video footage• Editing• Audio• Creativity
  22. 22. What is a Reward?
  23. 23. What is a Reward?• Your way of saying ‘Thank You’• Builds support for your future project, cause and/or organisation.• Act as a marketing and promotional tactic.• Must be creative and linked to your campaign.
  24. 24. £5 or more – Posted hand-written thank you note on Oil & Glass greeting card.£15 or more – Print on watercolour painting, chosen from the Shelagh SwansonGallery.£ 25 or more – Become a member of Oil & Glass and enjoy exclusive discounts, specialevents and invitations to all private views.£30 or more – Demonstration/Talk at your community group venue, Oil & Glass willdemonstrate the basic visual arts/glass techniques and deliver of talk at your choice ofvenue.£35 or more – Corporate Gift – A handmade fused glass corporate gift engraved withyour business logo.£40 or more – Introductory workshop in fused glass.£50 or more – Full day hire of all studio equipment, including sand blaster andovernight firing.£100 or more – Children’s Party in the studio.£120 or more – an Extra Large canvas print of your choice.
  25. 25. £10 or more – Your name will appear in the end credits of the film acknowledging how amazing you are. £20 or more –You will get a mention in the end credits plus you will receive a unique signed A4 photo of one of the 283 Munros taken during the journey.
  26. 26. Invest £20 and get –Limited edition printed t-shirt or canvas bag. The print will be created by the participants on the project. Invest £50 and get – Limited edition signed print from the exhibition, a copy of the final newspaper publication, the print will be created by the participants. Invest £100 and get – Limited edition print created by one of the established artists supporting the project.
  27. 27. £5 or more – A thank you Tweet.£20 or more – A personal thank you and link of your choice on my Hastastic! Facebookpage.£30 or more – Entry into raffle to win a bespoke commissioned headpiece.£40 or more – A promotional hat or headpiece made especially for your business event orad campaign or simply to wear.£50 or more – 30 minute talk on millinery from Chloe for your charitable or social event,plus a unique Hatastic piece.£100 or more – Afternoon for up to 5 people for a headpiece making class with Chloe.£500 or more – Pledge Package: Gratitude on all promotional materials, a handwrittenthank you, an exclusive bespoke hat for you or a friend, and a choice of a uniquebejewelled piece from the Lost Treasure Collection.
  28. 28. Why is Crowdfunding relevant to us now?• It is an enterprising solution to raising funds.• It is a new approach which cuts out traditional funding approaches and their requirements.• It enables communities to mobilise around the things they want to see happen;• Communities become investors in their own future.• It mobilises new money when traditional support is less available.• It is a good indicator of the eventual success of your project.
  29. 29. Telling the World aboutYour Crowdfunding Project
  30. 30. The Crowdfunding Sites
  31. 31. Sector Media
  32. 32. Websites
  33. 33. Websites
  34. 34. Blogs
  35. 35. Blogs
  36. 36. Other People’s Websites
  37. 37. Other People’s Websites
  38. 38. Other People’s Blogs
  39. 39. Other People’s Blogs
  40. 40. Other People’s Blogs
  41. 41. MSPs, MPs & Councillors
  42. 42. Social Networking
  43. 43. Social Networking
  44. 44. Social Networking
  45. 45. Social Networking
  46. 46. Social Networking
  47. 47. Marketing your projectYour Website – friends, partner and supporter websites (Web Release)Your Social Networks – friends, partner and supporter social networks (Share)Your Blog – friends, partner and supporter’s blogs (Blog Release)Email Your Database – friends, partner and supporter’s forward emails (Links)eNewsletter – friends, partner and supporter’s newsletters (Links)Mobile SMS – ask them to share their text (Share)Community News, Radio, Magazines, Leaflets – local word of mouth (Press Release)National News, Radio, Magazines – national word of mouth (Press Release)Presentations – at your events, activities, when selling (Word of Mouth)Posters, Leaflets, Postcards – For your community or beyond (Promotion)Letters – contact your fans, supporters, volunteers etc personally (Invite)Tell everyone you know! Get them to tell everyone they know!
  48. 48. Keeping your funders up-to-date• Update your Crowdfunding site
  49. 49. Update your Crowdfunding Site
  50. 50. Keeping your funders up-to-date• Update your Crowdfunding site• Thank You Cards• Blogging• Social Networking• Personalised Emails• Invitations
  51. 51. Tips Crowdfunding is not the easy option – any and all fundraising is hard!It helps, but it’s not necessary, to have a pre-existing community of supporters. Be resourceful – It can be hard to incentivise people, capture their imagination. Be clear – Set a completion date for the campaign, clearly define your goals and expectations. Be Informative – Offer as much information about your project as you can.
  52. 52. PitfallsProjects fail if…• You don’t express clearly the nature of your project.• Additional information is hard to come across.• You don’t tell anyone about it.• There is a lack of communication between yourself and your new funders.• You don’t follow up on rewards.• Your project doesn’t fit with the parameters of the Crowdfunding site you choose.• You choose not to produce a video.• You forget to build and nurture your online and offline community around your project.• You promise what you can’t deliver.• You focus on the negative.
  53. 53. FAQs• How long does a campaign last?• What happens when my project reaches its target funding?• How will I be able to contact my funders?• What happens if I don’t meet my target?• What happens if I reach my funding target before the end of the campaign?• Can I pledge to my own project?• Will the Crowdfunding site take a cut?• How do supporters collect their rewards?
  54. 54. Your FirstSteps towardsCrowdfunding
  55. 55. Your First Steps towards Crowdfunding• The project idea• Delivery dates• Costs to deliver• Crowdfunding Target• What would Crowdfunding support• The benefits of the project• Crowdfunding video• Rewards• Potential donors• Marketing tactics• Keeping funders up-to-date