Crowdfunding 101
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Alex Kouts, Senior Director of Product, Razoo Twitter Handle: @AlexKouts Crowdfunding is the new buzzword. Get the best practices for successful online fundraising campaigns. Plus learn the nuts and bolts of social media to tell your story effectively, spread the word and thank your donors.
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Crowdfunding 101
- 1. Crowdfunding for Causes democratizing philanthropy
- 4. Why is it so great?
- 5. How to create a successful campaign
- 6. Pre-work
- 14. Promotion is crucial Staff Board of Directors Key Influencers Donors Your Social Networks Volunteers Friends
- 15. During start end promote Deadline panic. Promote!
- 16. Get going early
- 17. Beware the pit!
- 18. Crossing the Finish line
- 19. Follow-up
- 20. Thank you’s
- 21. Say no to Silos
Editor's Notes
- Snoqualmie Falls
- Lots of people contributing to a common cause Could be money Could be influence Could be time Could be ideas – crowdsourcing
- Fast Efficient Non-technical Social Attracts donors All the cool kids
- Keep it short People think in headlines Be emotive - tell a narrative and connect
- Aim for 85% of what you think you can raise
- 45-60 days is optimal for an individual fundraiser If its too short you won’t give yourself enough time to hit your stride and gain momentum If its too long people will get lost in the abyss
- Tell people what they are purchasing Connect with them Make their contribution tangible, make it matter Keep them as defined as possible, doesn’t work for everyone but when possible…do
- Fundraisers with images raised 2x those without on average *Image from Take me home Pet Rescue http://www.razoo.com/story/Take-Me-Home-Pet-Rescue
- Fundraisers with video raised 2.1x those without on average
- Fundraisers with comments raised 8.3x those without on average
- Start with the inner circle Each Facebook share is worth approx 18$
- Fundraisers that take their first donation in the first day at several times more likely to hit their goal than not Social Proofing Take your first donation the hour you go live Have your inner circle ready the second you go live
- Many campaigns lose velocity mid way through and have a tough time hitting their goals Structure your reach out in sequential steps Plan ahead your email campaigns, social outreach and direct response Don’t overdo it, don’t underdo it, make it juuuuust right (only you know what that is for your audience) Encourage donors to fundraise for you Set up their own pages on Razoo
- One last mad dash Great time to announce a mid campaign matching grant to raise the stakes and re-engage donors that have already participated
- If you use a platform like Razoo, you can customize your thank you message After the campaign, make sure to thank everyone that helped you smash your goal Massive bonus points if you can talk about the impact of the campaign UBER massive bonus points if you use pictures or video You can use incremental goals and updates to keep your donors engaged in your ongoing story. Not only will your supporters enjoy seeing your success, but these regular updates serve as reminders for those who haven’t given yet. Also post interesting, eye-catching things that can encourage your friends to share it with their friends on their own social pages.
- Export your lists and import them into your CRM or whatever list management system you use Razoo has a convenient feature for this – quick CSV dowloads.