Social Media and Crowdfunding for Charities by Ideavibes

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Presentation given on Feb 24/2011 at CSI in Toronto to Charities and Non-Profits on the topics of Social Media and Crowdfunding. Attention was paid to Fundchange as a new crowdfunding initiative in …

Presentation given on Feb 24/2011 at CSI in Toronto to Charities and Non-Profits on the topics of Social Media and Crowdfunding. Attention was paid to Fundchange as a new crowdfunding initiative in Canada sponsored by TELUS.

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  • 1. Social Media and
    Crowdfunding
    Paul Dombowsky & Evelyn So
  • 2. Workshop Overview
    Time: 8:30 to 10:30am
    Speakers: Paul Dombowsky
    Founder and ceo of Ideavibes / Fundchange
    Evelyn So
    Founder of Noesium
    Follow-up: Slides
    4
  • 3. Agenda
    8:30 Introductions and Format
    8:45 Social Media Overview by Evelyn So
    Experience from the trenches - what are people experiencing
    Impact on fundraising efforts
    9:15 Crowdfundingby 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
    10:00 Wrap-up and Questions
    4
  • 4. Crowdfunding - what do you need?
    • A crowd
    • 5. Business challenge / problem / question you want answered – ideas
    • 6. A process and tool for engagement
    • 7. Trust and commitment in your crowd to take action
    • 8. Key performance indicators – what does success look like?
    • 9. Proof of action – your crowd wants to see what happened
    2
  • 10. Donor Generations
    4
  • 11. Where Donors are Giving
    4
  • 12. Online Giving
    “Fundraising Trends and Challenges in the Canadian Direct Marketing Sector”, a research paper from 009 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).”
    2
  • 13. Who is your crowd?
    The crowd you know The crowd you don’t know
    Social Media Makes the Connection
    4
  • 14. 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
    5
  • 15. Examples: Fundchange
    Post
    Promote
    Share
    Search/Filter
    Fund
    Receipt
    Report
    Costs:
    $99 + hst to join
    includes 2 postings
    3.9% processing fee
    6
  • 16. Examples: Crowdrise (US only)
    Post
    Promote
    Fund
    Report
    6
  • 17. Benefits & Challenges
    • It’s social – the crowd promotes projects it likes
    • 18. It’s social – the crowd won’t promote projects that aren’t shareable
    • 19. Success comes to those that are actively building a crowd
    • 20. A challenge for organizations new to social media
    • 21. It’s the free market at work
    • 22. It’s the free market at work
    • 23. Build stickiness to the project
    • 24. Need to pay attention to write-up to inspire funders
    8
  • 25. 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.
    • 26. 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.
    • 27. Make sure your target audience is online and will give online
    • 28. If you opt to post your projects on established crowdfundingsites, do your homework – be careful of the company you keep.
    8
  • 29. Resoruces
    • Donor stats, etc. came from “The Next Generation of Canadian Giving” – Nov. 2010 – by VinayBhagat, et al
    • 30. “The Wisdom of Crowds” – book by James Sudwecki
    • 31. “Crowdsourcing” – book by Jeff Howe
    • 32. “Fundraising Trends and Challenges in the Canadian Direct Marketing Sector”, a research paper released in 2009 by Cornerstone Group of Companies
    4
  • 33. Thank you
    Paul Dombowsky | 613.878.1681 | paul@ideavibes.com
    Evelyn So | 647.223.3804 | evelyn.so@noesium.com