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Crowdfunding: Tips & Practices for Success

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Crowdfunding: Tips & Practices for Success

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First presented at COABE Conference in 2017, and updated for the 2022 Virtual GED Ministry Conference, this presentation by Meagen Farrell provides a clear journey and examples of non-profit fundraising using crowdfunding platforms. Learn how to maximize engagement by rewarding small donors and peer-to-peer champions of your cause. Create realistic expectations and find the most important tips to increase your success rate to achieve your fund development goal, so you have the resources to go out and make the world a better place.

Highlights include:
-What is Crowdfunding?
-Support Other Projects: What Made it Work?
-Timeline to Your First Fundraising Project
-The Reality of Crowdfunding
-Meagen's Crowdfunding Checklist for Success

First presented at COABE Conference in 2017, and updated for the 2022 Virtual GED Ministry Conference, this presentation by Meagen Farrell provides a clear journey and examples of non-profit fundraising using crowdfunding platforms. Learn how to maximize engagement by rewarding small donors and peer-to-peer champions of your cause. Create realistic expectations and find the most important tips to increase your success rate to achieve your fund development goal, so you have the resources to go out and make the world a better place.

Highlights include:
-What is Crowdfunding?
-Support Other Projects: What Made it Work?
-Timeline to Your First Fundraising Project
-The Reality of Crowdfunding
-Meagen's Crowdfunding Checklist for Success

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Crowdfunding: Tips & Practices for Success

  1. 1. Crowdfunding: Tips & Practices for Success Meagen Farrell September 2022
  2. 2. Meagen Farrell
  3. 3. Shop: www.mustseed.org Courses: courses.mustseed.org Blog: blog.mustseed.org Mustard Seed Training
  4. 4. Maya Angelou “I have found that among its other benefits, giving liberates the soul of the giver.”
  5. 5. What is 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.” -Forbes “$90-96 Billion industry by 2025.” -World Bank
  6. 6. How does Peer-to-Peer Fundraising Work? Converting Social Capital to Financial Capital
  7. 7. My Crowdfunding Journey... Benefits: ● Well-known arts platform ● Stricter requirements for campaigns ● Must reach target to be funded Caveats: ● Fulfilling perks can get complicated ● Fees! 5% to KS + 3-5% processing 2013: 55 backers pledged $3,226
  8. 8. My Crowdfunding Journey... 2022 Little Mustard Seed Library: 25 backers pledged $2,500,11 backers with no reward Three digital books Two online courses
  9. 9. St. Baldrick’s Foundation: Childhood Cancer Research https://www.stbaldricks.org/ In Memory of Rebecca Meyer Hex color #663399 is rebecca purple
  10. 10. My Crowdfunding Journey... Us Event 2015 $1,380 + $843 $110,031 2016 $705 $113,995 2017 $805 + $794 $133,272 2018 $180 + $275 $152,530 2020 $530 + $1,007 $115,349
  11. 11. Timeline to Your First Crowdfunded Project 1. Support other projects 2. Plan with your team 3. Draft your story 4. Set up platform 5. LAUNCH 6. Hustle like crazy 7. Celebrate success! -6 months -3 months -2 months -1 month LAUNCH Weeks or months Firm deadlines
  12. 12. 1. Support Other Projects: What Made It Work? freshcamp: 93 backers, $17,000 Existing community Stretch goals
  13. 13. 1. Support Other Projects: What Made It Work? Reading Rainbow: 105,857 backers, $5,408,916 Amazing perks! LeVar Burton
  14. 14. STEP 2. Plan with your team The Empowerment Project: 404 backers, $28,590 All-female film crew 1 month trip to interview women for 10 episode series
  15. 15. Step 3. Tell Your Story Funny video! Cats!
  16. 16. Tell Your Story: 30 Second Pitch If we’re stuck in the elevator together, tell me: ● Who you are ● About your project ● Why I should care ● How I can help
  17. 17. Step 4. Set up Platform
  18. 18. Step 5: LAUNCH!
  19. 19. Step 6. Hustle Like Crazy Individual Outreach Products/Perks Events 1 2 3
  20. 20. Step 7: Will I celebrate Success?
  21. 21. The Reality of Crowdfunding: Kickstarter Numbers Stats as of September 2022: ● 570,044 projects launched ● 227,018 fully funded (40%) ● 56,016 0% funded (10%) Source
  22. 22. The Reality of Crowdfunding: MobileCause Numbers ● Raise 4x as much with video ● 62% new donors (28% give again) ● $568 average raised per individual Exclusive clubs work, but thank-you gifts reduce donations Source
  23. 23. Meagen’s Crowdfunding Checklist for SUCCESS! ❏ Have a clear project in mind. ❏ Tap your existing community. ❏ Organize a team. ❏ Communicate a plan & timeline. ❏ Shop around for platform fees. ❏ Develop launch events & deadlines. ❏ Use video for 4x donations.
  24. 24. Go make your students’ dreams come true!
  25. 25. Photo Credits: Maya Angelou by Wikimedia user Adria Richards “Money” by Flickr user TaxCredits.com Sailor Buying Girl Scout Cookies by U.S. Navy photo by Mass Communication Specialist 2nd Class Steven Khor “Friends Forever” by Flickr user Ahsan Saeed Bank Deposit Slip by Wikimedia user Ellis Publishing Company “Attendees at Firefox 4 Launch Party” by Flickr user Pranab Doley “Handshake - Hard Times” by Flickr user Spot Us Head shaving at St Baldrick’s Foundation event “Rebecca: The Face of My Daughter” by Eric Meyer Play group: 2 & 5 years old by Audrey Bustapeck (Bustafeltz Designs) “Girl Scout Cookies” by Flickr user Melissa Doroquez Brand assets: Kickstarter, GiveSmart, DonorsChoose, gofundme

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