CROWDFUNDRAISING
April 29, 2014
Crowdfundraising
Introduction
Cindy Eller, Vice President for Development &
Executive Director, Roswell Park Alliance
Foun...
Why Us?
Why Us?
• NACCDO centers were approached over a year ago by
a cancer patient who wanted to give back
• He created ...
Why Us?
• Site went live in October, 2013 with 5 campaigns
• Brain Cancer Vaccines
• Benefits of Fibrocytes in Cancer Car
...
Why Us?
• There was no marketing plan
to promote the site
• The centers were looking to the
website staff to promote to ge...
Why Us?
• Decided we needed to develop a marketing
plan and conduct more research on
crowdfunding options.
• This is a par...
Why?
Why Research?
Why Crowdfundraising?
Why?
The Numbers
• 2012 - The overall crowdfunding industry has raised $2.7
billion, across more than 1 million individual...
Why?
We cannot ignore this
growing trend and online
medium.
Benchmarking Results
NACCDO 2014 Benchmarking Survey
• Which platforms are being used:
Benchmarking Results
NACCDO 2014 Benchmarking Survey
• Types of crowdfunding programs:
Benchmarking Results
NACCDO 2014 Benchmarking Survey
• Who manages your crowdfunding:
Benchmarking Results
NACCDO 2014 Benchmarking Survey
• Number of crowdfunding campaigns completed:
Benchmarking Results
NACCDO 2014 Benchmarking Survey
• Main audiences for your campaigns:
Benchmarking Results
NACCDO 2014 Benchmarking Survey
• Money raised from crowdfunding in the last 12 months:
What is it?
What is Crowdfunding
First let’s define Crowdsourcing
“Obtain (information or input into a particular task or project) by
...
What is Crowdfunding
Crowdsourcing
• Famous Example: Wikipedia
• Gave the crowd the ability to create the most comprehensi...
What is Crowdfunding
Definition of Crowdfunding
“The practice of funding a project or venture by raising
many small amount...
Crowdfunding & Nonprofits
Nonprofits have been crowdfunding for years
• In 1949, Milton Berle hosted the very first teleth...
Review of Commericial &
Non-Profit Crowdfunding Projects
Examples
Commercial Examples
Movies
Commercial Examples
Movies
Music
Amanda Palmer, Grand Theft Orchestra
Commercial Examples
Movies
Music
Electronics
TikTok + LunaTik simply transform the iPod Nano into the
world's coolest mult...
Commercial Examples
Movies
Music
Electronics
Start Up Toy Company
(seed money)
Commercial Examples
Movies
Music
Electronics
Start Up Toy
Company
Or the “10 Year Hoodie” - raised over $1M so far
Non-Profit Examples
State of Minnesota - GiveMN
• Raised $16.3 million in 1 day in November, 2012
• Razoo.com
Non-Profit Examples
Tesla Science Museum
• Raised $1.4 million
• Indiegogo.com
Non-Profit Examples
DonorsChoose.org –
• Since inception has raised $225 million and helped more
than 175,000 teachers fun...
Non-Profit Examples
University College of San Francisco Medical Center
Challenge for the Children
• Raised over $1 million...
History
History of Crowdfunding
1997 – First instance of modern day Crowdfunding (British
band funded their reunion tour)
...
History
History of Crowdfunding, cont’d.
2006 – Prosper.com - first peer-to-peer lending site
– Term “CrowdFunding” is fir...
Growth
Growth of ALL Crowdfunding Platforms
2012 – 452
2014 – 800 and growing
Crowdsunite.com – “There are over 800 fundin...
Growth
Growth of Crowdfunding
2011 – $1.5 Billion
2012 – $2.7 Billion
2013 – $5.1 Billion (projected)
2014 – $10 Billion (...
Growth
Number of US Donation Based Crowdfunding
Platforms*
– 93 platforms available for donation based projects
–>> 54 pla...
Types
Types of Platforms
Types
Types of Platforms, cont’d.
Equity-based & lending-based (for financial return)
– Is most effective for digital good...
Types
Types of Platforms, cont’d.
Donation-based & for cause based campaigns
(for intrinsic reward)
– Perform best in reac...
Donation Campaigns
Majority of donation based
campaigns raised less than
$5,000
Only 10% raised over $10K
Typically majori...
How it Works
Parameters of a Successful Crowdfunding
Campaign
1. Concrete Goals
2. Transparent
3. Rewards
4. Social
How it Works
Need to be Goal Orientated
– have tangible results for funds raised
– restricted vs. unrestricted funds
– foc...
How it Works
Have a Specific Fundraising Goal
– Have a specific goal for each campaign or
project, whether it is $5K, $25K...
How it Works
Short, Specific Time Frame
– Crowdfunding projects have start and end dates
– 30 days, 70 days, 120 days
– Th...
How it Works
Personal Involvement of Fundraiser
(i.e. researcher)
– Gives donors the opportunity to meet (vicariously
thro...
How it Works
Importance of Researcher
– The researchers have to keep their donors up to date
and give them progress report...
How it Works
Reward Donor
– Equity and lending sites specifically offer tangible
rewards for their donors
– Donation based...
How it Works
Reward Donor, cont’d.
– Some non-profits also provide tangible rewards
– actual goods - t-shirts, bags, gift ...
How it Works
Social Involvement & Online Sharing
– Crowdfunding is an online initiative
– The campaign grows through your ...
How it Works
Social Involvement & Online Sharing, cont’d.
– The content THEY post and share is most trusted
– YOU NEED TO ...
How it Works
Review - Parameters of a Successful
Crowdfunding Campaign
1. Concrete Goals – specific time frame and
fundrai...
Online Options
Constituent vs. Organizational Crowdfunding
Centers have the option of:
– sponsoring a campaign or
– lettin...
Online Options
Constituent Ex. – Miami’s Children Hospital
– Mike Fernandez
– Personal fundraiser
where he walked
across E...
Online Options
Organizational Ex.– Univ. of
California, Promise for Education
– Created a
crowdfunding
campaign to rally
t...
Online Options
Constituent vs. Organizational
Online Options
With constituent crowdfunding
– We can leverage our already inspired supporters to
fundraise for our missio...
Online Options
Company Branded vs. Commercial Platform
Centers also have the option of:
– having a Company Branded (white ...
Online Options
Company branded
(white label or internal initiative)
– A singular site for the organization’s initiatives
–...
Online Options
Company branded example – Cornell University
Online Options
Company branded example – Children’s National
Medical Center
Online Options
Commercial Platform
– Platforms where we can jump right in and start a
campaign without any custom build
– ...
Online Options
Commercial Platform Example – Crowdrise
Online Options
Commercial Platform Example – Causes
Online Options
Commercial Platform Example – Indiegogo
Online Options
Commercial Platform Example – Consano
Online Options
Internal vs. Commercial
Evaluating Crowdfundraising for your Center
– What criteria should be used to evaluate if your center
should participate i...
I. Why consider crowdfundraising?
 It can be a key component in your digital
strategy
 Additional gifts from online dono...
Evaluating Crowdfundraising
 Value of online donors
• Higher gift value
• More efficient renewal and
communications cost
Evaluating Crowdfundraising
Evaluating Crowdfundraising
Acquisition:
According to our consultant Grizzard, the
percent of revenue from new donors shou...
 Crowdfundraising as a acquisition vehicle
• To secure new donors from patient and
prospect lists; new out of market dise...
Evaluating Crowdfundraising
Ask yourself:
• Do you have a plan to engage trending
online boomers and up and coming
younger...
Multi Channel is the new norm
The ideal mix varies from generation to
generation
Evaluating Crowdfundraising
Donors routinely respond to direct mail
pieces by making an online donation
Online donors switch back and forth
between in...
Evaluating Crowdfundraising
Evaluating Crowdfundraising
“Keep your eye on the bouncing ball”
• Boomers likely to be a dominant source of
income at lea...
True or False: Digital is for young people and offline
engagement is for old people.
The TRUTH is,
ALL generations
value a...
According to the “next generation of
American giving”
• The most promising future fundraising
strategies include peer to p...
Note:
• There is little evidence that social media
is growing as a transaction channel
(not donating through social networ...
Evaluating Crowdfundraising
Evaluating Crowdfundraising
Evaluating Crowdfundraising
II. Decision to go for it!
First Step: Choosing a Platform
“Research indicates the choice of platform is the
strongest fac...
 Home grown alone?
 Home grown with similar entities?
(healthcare site?)
 Selection of a pre-existing commercial
entity...
Online Options
III. Making it happen!
• Committing the necessary resources; creating
the team
• Not something development can typically d...
“The Team”
• Web- online team
• Finance/backend- gift processing
• Creative- creating the videos
• Researchers-
engaged, e...
“The Team” cont….
Communications Staff-
Supporting it with social media and other ways
to keep awareness high of funds to ...
IV. Deciding what projects to feature on your
site?
• Can benefit from a small gift total
• Can appeal to a specific disea...
Building your case
• Should be a 1-3 minutes long with a
compelling video
• Concise and clear- who and why funds
are neede...
Crowfunding Example - Multiple Sclerosis
Leukemia Crowdfunding
Setting Your Goal
• Make sure goal is realistic.
• Should be able to raise 25-30% from within your
own network
• Strangers...
Setting Your Goal
• For larger projects consider multiple
campaigns with smaller funding goals for
each stage of the proje...
Crowdfunding Example degenerative
diseases
Setting Your Goal
Length of Campaign
How long?
• Longer does not mean that you will raise more-
the longer the campaign- the harder it is to...
Non Profit Perks
Examples:
• Listing as supporter on website
• Personalized, signed donor certificate or plaque
• Annual u...
Non Profit Perks
Continue to add new perks during
campaign:
20% of repeat contributors are for perks added
after the campa...
V. The Cure Cancer Starter Model
https://www.curecancerstarter.org/
• How it came to be
• List of participants:
UNC Linebe...
Risks and Rewards
• Potential of diluting or losing donors to other centers
• Opportunity to strengthen existing and acqui...
Cure Cancer Starter Platform?
Next steps for a Cancer Cure Starter?
 Circle back and evaluate with the funding group
the ...
NACCDO Crowdfunding Cincotti-Eller
NACCDO Crowdfunding Cincotti-Eller
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NACCDO Crowdfunding Cincotti-Eller

  1. 1. CROWDFUNDRAISING April 29, 2014
  2. 2. Crowdfundraising Introduction Cindy Eller, Vice President for Development & Executive Director, Roswell Park Alliance Foundation Karen Cincotti, Assistant Director Web & IT Operations, Roswell Park Alliance Foundation
  3. 3. Why Us? Why Us? • NACCDO centers were approached over a year ago by a cancer patient who wanted to give back • He created a cancer only focused crowdfunding site called CureCancerStarter.org • Founding partners were: – Roswell Park Cancer Institute – UNC Lineberger Comprehensive Cancer Center – Duke Cancer Institute – UW Carbone Cancer Center
  4. 4. Why Us? • Site went live in October, 2013 with 5 campaigns • Brain Cancer Vaccines • Benefits of Fibrocytes in Cancer Car • Taking a Closer Look at Vitamin D • Treating Cervical Cancer Better Faster via UNC Malawi Initiative • Personalizing Treatment for Colorectal Cancers • Only 1 campaign achieved their goal of $5,000 What Happened?
  5. 5. Why Us? • There was no marketing plan to promote the site • The centers were looking to the website staff to promote to get them new donors • The centers were reluctant to promote to current donor base • Hence no traffic IF YOU BUILD IT THEY WILL COME
  6. 6. Why Us? • Decided we needed to develop a marketing plan and conduct more research on crowdfunding options. • This is a part of our FINDINGS…
  7. 7. Why? Why Research? Why Crowdfundraising?
  8. 8. Why? The Numbers • 2012 - The overall crowdfunding industry has raised $2.7 billion, across more than 1 million individual campaigns globally. More than ½ from sites based in North America.* • 2013 – The industry is projected to grow to $5.1 billion. • 2014 - Crowdfunding will top $10 billion. * Data form Crowdfunding Industry Report by Massolution
  9. 9. Why? We cannot ignore this growing trend and online medium.
  10. 10. Benchmarking Results NACCDO 2014 Benchmarking Survey • Which platforms are being used:
  11. 11. Benchmarking Results NACCDO 2014 Benchmarking Survey • Types of crowdfunding programs:
  12. 12. Benchmarking Results NACCDO 2014 Benchmarking Survey • Who manages your crowdfunding:
  13. 13. Benchmarking Results NACCDO 2014 Benchmarking Survey • Number of crowdfunding campaigns completed:
  14. 14. Benchmarking Results NACCDO 2014 Benchmarking Survey • Main audiences for your campaigns:
  15. 15. Benchmarking Results NACCDO 2014 Benchmarking Survey • Money raised from crowdfunding in the last 12 months:
  16. 16. What is it?
  17. 17. What is Crowdfunding First let’s define Crowdsourcing “Obtain (information or input into a particular task or project) by enlisting the services of a number of people, either paid or unpaid, typically via the Internet.” • Combination of the words 'crowd' and 'outsourcing’ • The idea is to take work and outsource it to a crowd of workers
  18. 18. What is Crowdfunding Crowdsourcing • Famous Example: Wikipedia • Gave the crowd the ability to create the most comprehensive encyclopedia in the world • The underlying principle of crowdsourcing is that more heads are better than one
  19. 19. What is Crowdfunding Definition of Crowdfunding “The practice of funding a project or venture by raising many small amounts of money from a large number of people, typically via the Internet.” Crowdfunding is a type of Crowdsourcing. Crowdfundraising is a variation of crowdfunding to meet fundraising goals.
  20. 20. Crowdfunding & Nonprofits Nonprofits have been crowdfunding for years • In 1949, Milton Berle hosted the very first telethon for the Damon Runyon Cancer Research Foundation • A little over $100,000 was raised in 16 hours – one of the earliest example of public nonprofit crowdfunding Crowdfunding is simply the act of accruing micro donations to reach a larger goal and now it is online and available to the masses.
  21. 21. Review of Commericial & Non-Profit Crowdfunding Projects Examples
  22. 22. Commercial Examples Movies
  23. 23. Commercial Examples Movies Music Amanda Palmer, Grand Theft Orchestra
  24. 24. Commercial Examples Movies Music Electronics TikTok + LunaTik simply transform the iPod Nano into the world's coolest multi- touch watches
  25. 25. Commercial Examples Movies Music Electronics Start Up Toy Company (seed money)
  26. 26. Commercial Examples Movies Music Electronics Start Up Toy Company Or the “10 Year Hoodie” - raised over $1M so far
  27. 27. Non-Profit Examples State of Minnesota - GiveMN • Raised $16.3 million in 1 day in November, 2012 • Razoo.com
  28. 28. Non-Profit Examples Tesla Science Museum • Raised $1.4 million • Indiegogo.com
  29. 29. Non-Profit Examples DonorsChoose.org – • Since inception has raised $225 million and helped more than 175,000 teachers fund over 400,000 projects
  30. 30. Non-Profit Examples University College of San Francisco Medical Center Challenge for the Children • Raised over $1 million • Causes.com
  31. 31. History History of Crowdfunding 1997 – First instance of modern day Crowdfunding (British band funded their reunion tour) 2000 – ArtistShare – first dedicated platform 2005 – Kiva.org was the first microlending website, lending small amounts of money to entrepreneurs in poor, rural areas around the globe
  32. 32. History History of Crowdfunding, cont’d. 2006 – Prosper.com - first peer-to-peer lending site – Term “CrowdFunding” is first used 2008 – IndieGoGo.com launches - platform for films 2009 – Kickstarter.com launches as a new way to fund creativity
  33. 33. Growth Growth of ALL Crowdfunding Platforms 2012 – 452 2014 – 800 and growing Crowdsunite.com – “There are over 800 funding websites globally and every week new ones are created for specific demographic, region or category”
  34. 34. Growth Growth of Crowdfunding 2011 – $1.5 Billion 2012 – $2.7 Billion 2013 – $5.1 Billion (projected) 2014 – $10 Billion (projected)
  35. 35. Growth Number of US Donation Based Crowdfunding Platforms* – 93 platforms available for donation based projects –>> 54 platforms available for Non-Profit organizations * As listed on Crowdsunite.com which reviews crowdfunding sites. The number continues to grow and you can see our choices are numerous.
  36. 36. Types Types of Platforms
  37. 37. Types Types of Platforms, cont’d. Equity-based & lending-based (for financial return) – Is most effective for digital goods (e.g., software, film and music) – These categories, on average, raised the largest sum of money per campaign
  38. 38. Types Types of Platforms, cont’d. Donation-based & for cause based campaigns (for intrinsic reward) – Perform best in reaching goals – BUT the money raised in these categories are much smaller, with 2/3 of them generating less than $5,000
  39. 39. Donation Campaigns Majority of donation based campaigns raised less than $5,000 Only 10% raised over $10K Typically majority of money raised is within 1st or 2nd ask from fundraiser * Data form Crowdfunding Industry Report by Massolution
  40. 40. How it Works Parameters of a Successful Crowdfunding Campaign 1. Concrete Goals 2. Transparent 3. Rewards 4. Social
  41. 41. How it Works Need to be Goal Orientated – have tangible results for funds raised – restricted vs. unrestricted funds – focus should be on what the money raised can do, not just talk, but specific, if we raise $10K we will be able to: - perform XYZ research, - XXX number tests of on patients - buy this equipment to complete research
  42. 42. How it Works Have a Specific Fundraising Goal – Have a specific goal for each campaign or project, whether it is $5K, $25K or $13,250 – you need to determine an amount that is your goal – You can raise more but your stated goal should be reflective of the amount that is needed for the specific research or initiative
  43. 43. How it Works Short, Specific Time Frame – Crowdfunding projects have start and end dates – 30 days, 70 days, 120 days – There is a trade-off between giving your audience sufficient time to engage with the campaign and losing momentum because of a timeline that is overly long – According to insights released by Indiegogo, the optimal campaign length is 45 days
  44. 44. How it Works Personal Involvement of Fundraiser (i.e. researcher) – Gives donors the opportunity to meet (vicariously through the website) and see results from the researcher – Provide content, i.e., videos, blog updates, so they become connected to the researcher – Makes the donor feel involved in the process
  45. 45. How it Works Importance of Researcher – The researchers have to keep their donors up to date and give them progress reports (part of their rewards) – Need to continue to show them how their funding has helped and contributed to the process One of biggest keys to success is to engage the researcher/doctor/fundraiser in the campaign.
  46. 46. How it Works Reward Donor – Equity and lending sites specifically offer tangible rewards for their donors – Donation based campaigns should also reward the donor by giving them the updates as described – This is the intrinsic, emotional reward
  47. 47. How it Works Reward Donor, cont’d. – Some non-profits also provide tangible rewards – actual goods - t-shirts, bags, gift cards, etc. – access - hospital tours, event tickets, lunch with researchers – special content (video updates, personalized letters) – publicly giving credit Remember to plan for what you can actually handle in terms of fulfillment before you promote the rewards.
  48. 48. How it Works Social Involvement & Online Sharing – Crowdfunding is an online initiative – The campaign grows through your online donors – Give donors the tools to tell people what they just donated to, we need them to PROMOTE for us – And you need them to continue the conversation with their networks by giving them continued content to share
  49. 49. How it Works Social Involvement & Online Sharing, cont’d. – The content THEY post and share is most trusted – YOU NEED TO HAVE THEM SHARE
  50. 50. How it Works Review - Parameters of a Successful Crowdfunding Campaign 1. Concrete Goals – specific time frame and fundraising goal 2. Transparent – where the money is going, keep up to date on progress 3. Rewards – actual or intrinsic rewards 4. Social – need them to share online
  51. 51. Online Options Constituent vs. Organizational Crowdfunding Centers have the option of: – sponsoring a campaign or – letting their constituents do it for them
  52. 52. Online Options Constituent Ex. – Miami’s Children Hospital – Mike Fernandez – Personal fundraiser where he walked across Europe to raise money for the hospital – A crowd of friends and contacts raised over $1.4M
  53. 53. Online Options Organizational Ex.– Univ. of California, Promise for Education – Created a crowdfunding campaign to rally their networks for support – Over $1.3M raised for undergraduate scholarships
  54. 54. Online Options Constituent vs. Organizational
  55. 55. Online Options With constituent crowdfunding – We can leverage our already inspired supporters to fundraise for our mission through their own personal networks online With organizational crowdfunding – We can leverage our messaging, our content, and our research, to encourage existing and new constituents to help us raise money for a specific goal
  56. 56. Online Options Company Branded vs. Commercial Platform Centers also have the option of: – having a Company Branded (white label or internal initiative) site – or list their campaigns on a Commercial Platform
  57. 57. Online Options Company branded (white label or internal initiative) – A singular site for the organization’s initiatives – Completely branded by the Center with no platform branding – Highlights Center projects only – Built internally OR using a provider’s white label option – If built internally no costs or fees are paid to a 3rd party – If built using a provider’s white label option additional fees will apply
  58. 58. Online Options Company branded example – Cornell University
  59. 59. Online Options Company branded example – Children’s National Medical Center
  60. 60. Online Options Commercial Platform – Platforms where we can jump right in and start a campaign without any custom build – Other centers and their constituents are also on these sites – Some have large network of followers looking across the different causes – Sites are templated with an easy to use CMS system – Costs and policies are dependent upon the platform
  61. 61. Online Options Commercial Platform Example – Crowdrise
  62. 62. Online Options Commercial Platform Example – Causes
  63. 63. Online Options Commercial Platform Example – Indiegogo
  64. 64. Online Options Commercial Platform Example – Consano
  65. 65. Online Options Internal vs. Commercial
  66. 66. Evaluating Crowdfundraising for your Center – What criteria should be used to evaluate if your center should participate in crowdfunding - Why? - Where?- What platform? - What projects to fund? - What resources are needed? - What are the risks and rewards? Evaluating Crowdfundraising
  67. 67. I. Why consider crowdfundraising?  It can be a key component in your digital strategy  Additional gifts from online donors  Additional gifts from mail donors to online donors  Part of a peer to peer fundraising strategy  Part of an acquisition strategy for new donors Evaluating Crowdfundraising
  68. 68. Evaluating Crowdfundraising
  69. 69.  Value of online donors • Higher gift value • More efficient renewal and communications cost Evaluating Crowdfundraising
  70. 70. Evaluating Crowdfundraising Acquisition: According to our consultant Grizzard, the percent of revenue from new donors should be in the range of 20% At Roswell Park it is 8.9% and our mail market is aged and shrinking
  71. 71.  Crowdfundraising as a acquisition vehicle • To secure new donors from patient and prospect lists; new out of market disease site interests • New from cross pollination with others on the site • Peer to peer fundraising vehicle for highly engaged donors and advocates Evaluating Crowdfundraising
  72. 72. Evaluating Crowdfundraising Ask yourself: • Do you have a plan to engage trending online boomers and up and coming younger generations? • Does your fundraising channel mix include mail and digital communications? • Are you empowering your most enthusiastic supporters to fundraise and evangelize online on your behalf?
  73. 73. Multi Channel is the new norm The ideal mix varies from generation to generation Evaluating Crowdfundraising
  74. 74. Donors routinely respond to direct mail pieces by making an online donation Online donors switch back and forth between internet and direct mail ROI is not as straightforward Evaluating Crowdfundraising
  75. 75. Evaluating Crowdfundraising
  76. 76. Evaluating Crowdfundraising “Keep your eye on the bouncing ball” • Boomers likely to be a dominant source of income at least next decade • Need to optimize the mix for boomers while opening the door to younger donors
  77. 77. True or False: Digital is for young people and offline engagement is for old people. The TRUTH is, ALL generations value a mix of online and offline. Evaluating Crowdfundraising
  78. 78. According to the “next generation of American giving” • The most promising future fundraising strategies include peer to peer fundraising and crowdfunding Evaluating Crowdfundraising
  79. 79. Note: • There is little evidence that social media is growing as a transaction channel (not donating through social networks- i.e. Facebook) • Growing evidence that social media is an important stewardship role Evaluating Crowdfundraising
  80. 80. Evaluating Crowdfundraising
  81. 81. Evaluating Crowdfundraising
  82. 82. Evaluating Crowdfundraising
  83. 83. II. Decision to go for it! First Step: Choosing a Platform “Research indicates the choice of platform is the strongest factor influencing the potential success of the program.” Incorporating Crowdfundraising
  84. 84.  Home grown alone?  Home grown with similar entities? (healthcare site?)  Selection of a pre-existing commercial entity (52 choices) Incorporating Crowdfundraising
  85. 85. Online Options
  86. 86. III. Making it happen! • Committing the necessary resources; creating the team • Not something development can typically do alone- needs expertise from other specialties in house Implementing Crowdfundraising
  87. 87. “The Team” • Web- online team • Finance/backend- gift processing • Creative- creating the videos • Researchers- engaged, entrusted, committed (i.e. updates) • Marketing- driving the traffic Implementing Crowdfundraising
  88. 88. “The Team” cont…. Communications Staff- Supporting it with social media and other ways to keep awareness high of funds to date against target and create momentum; report back on success of project at completion of research effort Implementing Crowdfundraising
  89. 89. IV. Deciding what projects to feature on your site? • Can benefit from a small gift total • Can appeal to a specific disease group (i.e. disease sites or genetics) Building Your Crowdfundraising Campaign
  90. 90. Building your case • Should be a 1-3 minutes long with a compelling video • Concise and clear- who and why funds are needed Building Your Crowdfundraising Campaign
  91. 91. Crowfunding Example - Multiple Sclerosis
  92. 92. Leukemia Crowdfunding
  93. 93. Setting Your Goal • Make sure goal is realistic. • Should be able to raise 25-30% from within your own network • Strangers will want to see traction to get excited about your campaign • Generally don’t stop funding once a goal has been reached
  94. 94. Setting Your Goal • For larger projects consider multiple campaigns with smaller funding goals for each stage of the project
  95. 95. Crowdfunding Example degenerative diseases Setting Your Goal
  96. 96. Length of Campaign How long? • Longer does not mean that you will raise more- the longer the campaign- the harder it is to build a sense of urgency and momentum • ~ 40 day long campaigns are most successful • Successful campaigns generally raise 30% of goal in the first two weeks, slows down in the middle – keep ,momentum going
  97. 97. Non Profit Perks Examples: • Listing as supporter on website • Personalized, signed donor certificate or plaque • Annual updates about progress of project • Listed as a patron at lab location • Invitation to conference for scientists, patients and donors where progress made will be presented
  98. 98. Non Profit Perks Continue to add new perks during campaign: 20% of repeat contributors are for perks added after the campaign went live
  99. 99. V. The Cure Cancer Starter Model https://www.curecancerstarter.org/ • How it came to be • List of participants: UNC Lineberger Cancer Center (Chapel Hill, NC) Roswell Park Cancer Institute (Buffalo, NY) Duke Cancer Institute (Durham, NC) UW Carbone Cancer Center (Madison, WI) • Status- “suspended hold” A Cancer Only Crowdfundraising Site?
  100. 100. Risks and Rewards • Potential of diluting or losing donors to other centers • Opportunity to strengthen existing and acquire new • Strength in numbers driving interested cancer donors- prospects • Clean and easy to access vs. being lost as one of thousands on a commercial site Cure Cancer Starter Platform?
  101. 101. Cure Cancer Starter Platform? Next steps for a Cancer Cure Starter?  Circle back and evaluate with the funding group the required investment in an online marketing strategy  Reinforcing the need for “team” engagement not just development reps  Determine future directions of the site and partnership

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