Crowdfunding for the Arts and Cultural Sector

Crowdfunding for the Arts, Cultural and Creative sector ‘ It was the revolutionary fundraising model that swept Barack Obama to power – and it could help arts bodies in Britain stay in business.’

Crowdfunding
Today’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 GANE and HI-Arts

“ 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 shine
through and the wisdom of the crowd to fund them
is a really exciting prospect.”
Crowdfunder

The Orchestra of the Age of Enlightenment launched their Crowdfunding campaign on wedidthis.org.uk on 23rd October 2011.

For £30 A pint with players from the Orchestra For £50 Group hug from The Night Shift office team For £100 Pub 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) For £5 A thank you on Twitter and Facebook

Night Shift – Pub Tour
Raised £1,255
(£55 over their target)
with 58 donations .
On average people donated £20 each .

Let the projects explain…
Islington Exhibits
http://vimeo.com/25142656

Islington Exhibits Artist Residencies
The crowdfunding campaign finished on 13 th July 2011.
They raised £610 – their target figure
13 people pledged donations.
On average people donated £45.

Islington Exhibits
Mozart’s First Opera
http://vimeo.com/19132303

The Classical Opera Company finished its campaign on 27 th April 2011.
They raised £10,390 .
41 people pledged donations.
On average people donated £250.

Islington Exhibits
Hatastic !
http://www.pleasefund.us/projects/hatastic-the-green-closet-at-milan-fashion-week

So far people have pledged an average of £60

How does Crowdfunding work?
In a Nutshell…
Pick the creative project or idea you want funded.
Identify how much you need to raise.
Pick a Crowdfunding website.
Identify your story and your pitch.
How will you reward your new funders?
Tell everyone you know, and those interested in what you do, about it!

Where to Crowdfund?

Crowdfunding Sites

Look for a host that offers support and advice in developing and communicating your project.

Find out how long the site will run your campaign

Check to see if the crowdfunding site charges you for raising funds?

Make sure you read any guidelines or terms and conditions before launching your project.

Setting your Funding Target
Core costs of the project
Rewards – what additional costs?
Ask for slightly more
Community commitment
Estimate the average pledge

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

Writing your pitch
You 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

14 Questions to Answer
Who will be doing it and what are their qualifications?
How will you tell people about it?
How much do you want?
How much have you raised yourself?
How will the project be evaluated?
Who or what will benefit from the funding of this project?
Who are you?
Who is your target audience?
Why do you need money?
Why might the funder be interested?
What’s the idea?
Why are you the best people to be delivering this?
Where is the activity taking place?
When will it be taking place?

Creating a Video
Creating a Video is Essential for:
Connecting with your funders
Demonstrating trust and value
Being clear and concise
Providing a short and sweet pitch

Creating a Video
What type of video?
Interview’s
Documentary
An animation
Photography Slideshow
Pointers
Keep it short and to the point
Clearly relate to the project
Quality of video footage
Editing
Audio
Creativity

What is a Reward?

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.

$10 or more – ‘ Amelie ’ Reward: 3 unreleased songs sent to you before itunes release. $20 or more – ‘ Jacque Brel ’ Reward: Download the album before released on itunes. $30 or more – ‘ Victor Hugo ’ Reward: Pre-release copy of signed CD. $50 or more – ‘ Daft Punk ’ Reward: 2 tickets to CD release show and signed poster. $60 or more – ‘ The Baguette ’ Reward: Hand designed USB ‘baguette’ with all 4 CD albums with new release. $75 or more – ‘ Merci ’ Reward: A personal Thank You note on the album. $100 or more – ‘ Merci Beaucoup ’ Reward: Will sign your name on the Thank You track on the album. $150 or more – ‘ Jacques Cousteau ’ Reward: Visit the studio while recording. $250 or more – ‘ Carla Bruni ’ Reward: A French singing lesson. $300 or more – ‘ Chez ’ Reward: Home visit for a private 2 hour House Show. $500 or more – ‘ Jacques Pepin ’ Reward: 2 hour House Concert and ‘Raclette’ party for 8 people including wine.

Invest £20 and get – Limited Edition A2, Winter Themed, Sprayed Stencil, numbered and signed. Invest £40 and get – A4 watercolour commission, you decide the brief. Invest £70 and get – Digital commission in PDF, you decide the brief and printed on A2, signed.

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.

£5 or more – A thank you Tweet. £20 or more – A personal thank you and link of your choice on my Hastastic! Facebook page. £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 or ad 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 handwritten thank you, an exclusive bespoke hat for you or a friend, and a choice of a unique bejewelled piece from the Lost Treasure Collection. 5 people have pledged £5 1 person pledged £20 3 people pledged £30 3 people pledged £50 1 person pledged £100 1 person pledged £500

Why is Crowdfunding relevant to us now?
It is an enterprising solution to raising funds.
It’s 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.

Crowdfunding Getting the word out

The Crowdfunding Sites will promote on your behalf to their networks

Sector Media can promote to the engaged

Your own Websites

Your own Blogs

Other People’s Websites – that will attract your target audience

Other People’s Websites – The participants in the project

Other People’s Blogs – Community news, media, reviews

Other People’s Blogs – in arts and culture

Other People’s Blogs – in your community

Your Social Networking sites

Your Social Networking Sites

Marketing your project Your 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!

Keeping your funders up-to-date
Update your Crowdfunding site

Updating your Crowdfunding Site

Keeping your funders up-to-date
Update your Crowdfunding site
Thank You Cards
Blogging
Social Networking
Personalised Emails
Invitations

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.

Pitfalls
Projects 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.

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?

Your First Steps towards Crowdfunding

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

Crowdfunding for the Arts and Cultural Sector

by Sian Jamieson

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