Online fundraising for int'l programs (wiva)
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Online fundraising for int'l programs (wiva)

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This webinar will cover what peer-funding is, how it works, who benefits, and how students can raise money using Project Travel and other crowdfunding sites.

This webinar will cover what peer-funding is, how it works, who benefits, and how students can raise money using Project Travel and other crowdfunding sites.

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Online fundraising for int'l programs (wiva) Online fundraising for int'l programs (wiva) Presentation Transcript

  • Welcome to the Webinar on Online Fundraising for International Programs!
  • today • Intro • What is Crowdfunding? • General vs. Niche Crowdfunding sites • What Makes it Successful? • Crowdfunding Concerns • Group Funding • Working Together (Project Travel’s Approach) • Q & A plus your input!
  • Samantha Martin Project Travel Study Abroad Advisor Gilman Scholar, Cyprus U. of South Carolina International Scholarship Advisor SUNY New Paltz Program Coordinator IEP @ Jacksonville U. Study Abroad Peer Advisor Project Advisor Director MA Peace & Conflict Studies University of Ulster Rotary Ambassadorial Scholar Customized Faculty-Led Programs 2006 2008 2009 2013 2012 View slide
  • Meet Our Team of World Citizens. “Travel is fatal to prejudice, bigotry, and narrow-mindedness.” – Mark Twain Kathryn Weimann International Education Advisor Jennifer Thomas Founder & CEO Greg Williams Development Veronika Goldberg Design Samantha Martin Director Michael Pottern Business Strategy Advisor Jackie Berkery Community Strategist Ezekiel Binion Experience & Design Strategy Advisor View slide
  • WHAT IS CROWDFUNDING? (also referred to as peer-funding & crowdsourcing)
  • To crowdfund is to tell a personal story online and engage the community to raise money & social support for a cause, project, creative product, business, or event. Man designed by Nina Machado from The Noun Project
  • $2.7B raised in crowdfunding in 2012 2011 2012 2013 81% increase over 2011 89% increase expected for 2013 Financial information provided by Massolution: 2013CF- The Crowdfunding Industry Report, crowdsourcing.org
  • Already, crowdfunding curriculums have been created at Carnegie Mellon University and Northwestern University. ~Gerber, E. (2012) Easy Money? The Demands of Crowdfunding Work http://egerber.mech.northwestern.edu/wp-content/uploads/2012/11/Easy- Money-_The-Demands-of-CrowdfundingWork-_2012.pdf. Northwestern University
  • Create a profile. Tell a story online (& offline) through words, video, & photos. Raise money & support. End project or campaign. Reach the goal or the end of the project or campaign. Fulfill commitments. (Go on program.) Crowdfunding Process 1 2 3 4 5 6 Ongoing Thank & Update Supporters
  • GENERAL VS NICHE (a platform that allows you to fund anything versus a specific purpose )
  • Poll: Which of these crowdfunding platforms are you familiar with?
  • Go niche! (what type of community do you want to be a part of?)
  • Int’l Education Crowdfunding Sites • Project Travel(launched public in 2013) • FundMyTravel (launched public in 2012) • Volunteer Forever (launched public in 2012) crowdfunding is new in the international education space!
  • • additional resource to traditional funding • does not affect financial aid package • empowers every motivated student to create a funding solution Students solve a funding problem, Man designed by Nina Machado from The Noun Project
  • In addition to creating funding goals, creators also learn new skills, such as budgeting, management, and videography, to complete preparation work. ~Gerber, E. (2012) Easy Money? The Demands of Crowdfunding Work http://egerber.mech.northwestern.edu/wp- content/uploads/2012/11/Easy-Money-_The-Demands-of-CrowdfundingWork-_2012.pdf. Northwestern University • digital storytelling • budgeting • marketing • fundraising • community outreach learn new skills, Man designed by Nina Machado from The Noun Project
  • & create awareness about international education. • why it is important • where they are going • who with • impact on self & others • need for social & financial support Man designed by Nina Machado from The Noun Project
  • WHAT MAKES IT SUCCESSFUL? (the do’s and don’ts of crowdfunding)
  • (hint...it doesn’t look like this)
  • Poll: What do you think is the single most important factor in a successful crowdfunding project?
  • Average Success Rates 68% funded* 32% fully funded* *Numbers based on 353,003 projects in two separate studies across platforms and crowdfunding purposes.
  • Evers, M (2012) Marketing Management & Management of Innovation, Rotterdam School of Management, Erasmus University, http://cultuurmarketing.nl/wp-content/uploads/2013/01/Mart-Evers_Master- thesis_Main-drivers-of-crowdfunding-success_RSM_Marketing-Management_9-2012_PDF.pdf
  • Project Starters Students • realistic funding goal (cost of admin. fees up to $5,000+) • photos & video • engagement with supporters • cause of need • high positive sentiment Man designed by Nina Machado from The Noun Project
  • Supporters Supporters • positive labeling • high engagement • decisional control • request size Man designed by Nina Machado from The Noun Project
  • Advisors & Faculty Advisors & Faculty • determine if crowdfunding is a viable resource for your students • give consistent referrals to crowdfunding options across campus or your organization (financial aid, education abroad office, career services, faculty & staff) • program verification* *Specific to Project Travel Man designed by Nina Machado from The Noun Project
  • CONCERNS (crowdfunding is a solution but not a magic bullet)
  • Poll: Which is your biggest concern about crowdfunding? Man designed by Nina Machado from The Noun Project
  • Are these funds really going towards a program-related expense? I get so many funding requests. Is this one worth my support? Is my credit card information secure? Supporters Advisors & Faculty What happens if they cancel their program? Man designed by Nina Machado from The Noun Project
  • However, if they cancel, their Project is canceled and they return the funds. Supporters are informed that dollars given are legally gifts. I can actually help make this dream a reality for this student? I’ll give! My information is secure & won’t be shared! Supporters Advisors & Faculty Project Travel won’t open a Project for funding until it is verified that the student submitted a program application. They also have a 15% tipping point in place. Man designed by Nina Machado from The Noun Project
  • What if my family & friends think I am “begging?” What if I fail? Why are there fees to crowdfund? Students Do I have time to crowdfund? How do I do this? Man designed by Nina Machado from The Noun Project
  • My Project Advisor is helping me and I have access to online resources at any time. The small fee retained from gifts given is worth this platform & the support. I pay nothing out of pocket and I don’t have to pay anything back. This is a learning experience and I have people to support me. People who care about me will care about what is important to me. People who connect with my story will support me. If this is truly important to me, I will do the work to reach my goals! Students Man designed by Nina Machado from The Noun Project
  • “This was a great learning experience because I have never really had to do fundraising like this. ~Stephanie, SUNY New Paltz “I am almost done with my promotional video ... I'm really excited.” ~Marisol, Bard College My goal is to raise $3,000 to fund my round trip plane ticket to NZ this Spring! For every $100 we raise, I will donate 1 hour of service to a designated charity. ~Briana, University of South Carolina Project Starters (in their own words)
  • GROUP FUNDING (yes! it’s possible)
  • Group Funding Alternative Spring Break & Other Service Programs will crowdfunding reduce cancellation rates? Man designed by Nina Machado from The Noun Project
  • Poll: Do you see group funding as a potential option for reducing cancellation rates on service or volunteer programs?
  • WORKING TOGETHER (Project Travel’s approach)
  • Understand the Needs of Int’l Educators Support Our Community Start to Finish Mission Motivated. Results Driven. Three Pillars of Who We Are
  • Ways We Work With Our Community • Support existing advising structures • Program verification • Joint email outreach • Printed materials • Unique URL (e.g. www.projecttravel.com/go/envoys) • (Your ideas here!)
  • NAFSA 2013 Poster Session Info on Crowdfunding http://blog.projecttravel.com/nafsa13-poster-session Short Video Introduction to Project Travel http://blog.projecttravel.com/learn-more Sign up for our monthly newsletter http://u.gopt.me/community-newsletter Additional Resources
  • Questions? Please use the ‘question’ box to submit a question. This presentation & all questions will be compiled in a follow up document and sent to all participants on the call.
  • from here to there thank you. (do stay in touch) Samantha Martin samantha@projecttravel.com 866 720 7572 x20 @goprojecttravel www.projecttravel.com hello@projecttravel.com f