Crowdfunding: how it works, why it works and how you can make it work for you
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This document provides guidance on crowdfunding campaigns. It discusses choosing projects and goals, developing impactful stories, choosing a crowdfunding platform, setting up the campaign, recruiting supporters, updating supporters, final emails, thanking donors, and reporting on results. The key aspects of an effective crowdfunding campaign include clear goals and stories, using different story types to engage donors emotionally and inspire future impact, choosing the right platform, regularly updating supporters, and closing the funding loop by thanking donors and reporting on results.
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Crowdfunding: how it works, why it works and how you can make it work for you
- 2. Housekeeping Write down 3 things Caveats & biases brady@chimp.net / @bradyjosephson peergiving.com / chimp.net / recharity.ca
- 9. Crowdfunding is growing rapidly and driven by social causes
- 20. Choosing a project & setting a goal SMART ● Specific ● Measurable ● Attainable ● Relevant ● Time bound Simple case ● Why care? ● Why you? ● Why now?
- 21. What are you hoping to raise, by when, to impact who and how?
- 23. Develop your story & stories • Social Currency • Triggers • Emotion • Public • Practical Value • Stories • Simple • Unexpectedness • Credibility • Concreteness • Emotion • Stories
- 27. There are different story types you can use in your campaign for different reasons. Story Types – Genesis – Future – Beneficiary – Staff – Donor/Supporter
- 28. Tell your desired future story of what’s possible to inspire. Story Types – Genesis – Future – Beneficiary – Staff – Donor/Supporter
- 29. Tell a client story to personalize and move emotionally. Story Types – Genesis – Future – Beneficiary – Staff – Donor/Supporter
- 30. Tell the donor/supporter story to show the power in everyday people and others aren’t in it alone. Story Types – Genesis – Future – Beneficiary – Staff – Donor/Supporter
- 31. Choosing a platform 5 Questions 1. Do you need/want the donor information? 2. How much brand control do you want? 3. Do you want a tool that can access a pool of supporters? 4. Do you want to provide updates during and after the project? 5. How do you prefer to pay for the project?
- 32. Control vs. Cost YOURS Classy Artez Peer Giving Network for Good Blackbaud CauseVox THEIRS CanadaHelps Chimp Indiegogo CrowdRise Kickstarter Fundly Razoo
- 33. Choose the best platform for them.
- 36. Setting up your campaign ● Keep it simple ○ Add layers (and links) as needed and as you go ● Use videos and images ● Add social and social tools ○ Hashtag to use and follow
- 37. Videos, quick starts and audience are all keys to successful projects/campaigns.
- 38. Recruiting supporters ● Regular, loyal and monthly supporters ● Volunteers and board members ● Companies and corporate partners ● Younger supporters and followers
- 41. Update on status & Final Emails ● Let people know how close you are to reaching your goal ● Post stories ○ Future ○ Beneficiary ○ Donor/Supporter ● Send out your own round of emails ● Encourage fundraisers to email (again)
- 44. Thanking & Reporting ● Hopefully as you go, definitely at the end ● Treat fundraisers more like major donors ● Give the final results of the campaign ○ In ways that are meaningful to supporters ● Close the loop
- 46. Resources ● Made to Stick ● Winning the Story Wars ● Science of Giving ● charitywater.org ● classy.org ● hatchforgood.org