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Ideavibes Social Media and Crowdfunding_Apr19_2011_Workshop
 

Ideavibes Social Media and Crowdfunding_Apr19_2011_Workshop

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Updated workshop presentation as presented in Ottawa, ON on April 19th. This presentation presents crowdfunding and Fundchange as an alternative for raising funds - focused on projects or doable asks.

Updated workshop presentation as presented in Ottawa, ON on April 19th. This presentation presents crowdfunding and Fundchange as an alternative for raising funds - focused on projects or doable asks.

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    Ideavibes Social Media and Crowdfunding_Apr19_2011_Workshop Ideavibes Social Media and Crowdfunding_Apr19_2011_Workshop Presentation Transcript

    • Social Media and
      Crowdfunding
      Paul Dombowsky – Kelly Rusk – Keenan Wellar
    • Workshop Overview
      Time: 8:30 to 11:00
      Speakers: Paul Dombowsky
      Founder and ceo of Ideavibes / Fundchange
      Kelly Rusk - ThornleyFallis
      Keenan Wellar - LiveWorkPlay
      Shannon Gorman - TELUS
      2
    • Agenda
      8:35Introductions
      8:50Kelly Rusk - Social Media Primer
      9:30Crowdfunding- Paul Dombowsky
      What is it and how can you use it?
      Options for engaging a new generation of donors
      Project based or ‘doable ask’ focused fundraising
      10:00Fundchange.com – What is it and how can you participate?
      10:20 Keenan Wellar – Live Work Play
      10:40 General Questions and Wrap-up
      3
    • Crowdfunding - What do you need?
      • A crowd
      • Business challenge / problem / question you want answered – ideas
      • A process and tool for engagement
      • Trust and commitment in your crowd to take action
      • Key performance indicators – what does success look like?
      • Proof of action – your crowd wants to see what happened
      4
    • Donor Generations
      5
    • Where Donors are Giving
      6
    • Online Giving
      “Fundraising Trends and Challenges in the Canadian Direct Marketing Sector”- a research paper from 2009 by Cornerstone Group of Companies shows:
      • Donors who make their first gift to an organization online as opposed to via direct mail have a much higher average gift
      $73 vs. $30
      • There are now more than 4 times the number of new donors, per organization, from online initiatives than 5 years ago (9M to 40M).”
      7
    • Who is your crowd?
      The crowd you know The crowd you don’t know
      Social Media Makes the Connection
      8
    • Projects or Doable Asks
      Easier for most people to wrap their head around a smaller project as opposed to a ‘cure’ or a ‘hospital wing’
      Examples:
      Piece of medical equipment
      Stream revitalization
      Education program
      Conference attendance
      Sports equipment for a couple kids
      9
    • Examples: Fundchange
      Post
      Promote
      Share
      Search/Filter
      Fund
      Receipt
      Report
      Costs:
      $99 + hst to join
      includes 2 postings
      3.9% processing fee
      10
    • Examples: Crowdrise (US only)
      Post
      Promote
      Fund
      Report
      11
    • Benefits & Challenges
      • It’s social – the crowd promotes projects it likes
      • It’s social – the crowd won’t promote projects that aren’t shareable
      • Success comes to those that actively build a crowd
      • A challenge for organizations new to social media
      • It’s the free market at work
      • It’s the free market at work
      • Build stickiness to the project
      • Need to pay attention to write-up to inspire funders
      12
    • Integrating Crowdfunding into Your Organization
      Things to keep in mind:
       
      • Crowdfunding success comes quickest to organizations that are social –media-aware and engaged. If your organization is not yet social media-enabled, it will take time and human and financial resources to do so.
      • Because your efforts are only as good as the crowd you are able to mobilize to your cause, it makes sense that your organization strategically manages and promotes its brand online.
      • Make sure your target audience is online and will give online
      • If you opt to post your projects on established crowdfundingsites, do your homework – be careful of the company you keep.
      13
    • Resoruces
      • Donor stats, etc. came from “The Next Generation of Canadian Giving” – Nov. 2010 – by VinayBhagat, et al
      • “The Wisdom of Crowds” – book by James Surowiecki
      • “Crowdsourcing” – book by Jeff Howe
      • “Fundraising Trends and Challenges in the Canadian Direct Marketing Sector”, a research paper released in 2009 by Cornerstone Group of Companies
      14
    • Thank you
      Paul Dombowsky | 613.878.1681 | paul@ideavibes.com