Crowdfunding - creating conditions for success
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Tim from Twintangibles providing an overview of crowdfunding and how groups can create the right conditions to help them succeed. Innovate Approaches to Fundraising for parks and greenspace projects - 3 March 2016 - Grassmarket Centre, Edinburgh
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Crowdfunding - creating conditions for success
- 1. Tim WrightTim Wright Innovative Approaches To Fundraising For Parks And Greenspaces CrowdfundingCrowdfunding The Grassmarket Centre Thursday, 3 March 2016
- 2. Crowd EconomyCrowd Economy Business Advisory FirmBusiness Advisory Firm www.twintangibles.co.ukwww.twintangibles.co.uk @twintangibles@twintangibles
- 3. Crowdfunding is a method of raising money from aCrowdfunding is a method of raising money from a distributed group of funders (the crowd) who provide adistributed group of funders (the crowd) who provide a large number of small sums forming a significant totallarge number of small sums forming a significant total when aggregated together.when aggregated together.
- 4. $34 BillionGlobal value of Crowdfunding in 2015 $2.7 Billion Global value of Crowdfunding in 2012
- 5. Technological Social and Collaborative tools, Platforms Societal Empowerment, ecommerceEmpowerment, ecommerce Economic Capital Constraint, Investment OpportunityCapital Constraint, Investment Opportunity Crowdfunding GROWTH
- 6. Four Models of Crowdfunding DONATIONDONATION REWARDREWARD LENDINGLENDING EQUITYEQUITY
- 7. Funds collected are gifts or donations with no tangible return to the provider. DONATION
- 8. Platforms – Donation Just Giving https://www.justgiving.com/ Yimby https://www.yimby.com/ MyParkScotland http://www.mypark.scot/
- 9. “Rewards” or “perks” of different value are offered to supporters to purchase. REWARD
- 10. Platforms – Perk or Reward Kickstarter https://www.kickstarter.com/ Indiegogo https://www.indiegogo.com/ Crowdfunder http://www.crowdfunder.co.uk/ BloomVC http://bloomvc.com/
- 11. A loan is constructed from many small loans collected from the crowd. LOAN
- 12. Platforms - Lending Funding Circle https://www.fundingcircle.com/ Rebuilding Society https://www.rebuildingsociety.com/ Lending Crowd https://www.lendingcrowd.com/
- 13. Shares are sold in small parcels to a large group of investors. EQUITY
- 15. Additional VariationsAdditional Variations Keep it all You get to keep whatever you raise All or nothing You get to keep anything only if you reach your target DIY You run your campaign “of platform” Hybrid models A mix of funding
- 16. Crowdfunding working in all sectors
- 17. But...it’s so much more than money!
- 18. More diverseMore diverse Closer to marketCloser to market Lower costLower cost Quick moneyQuick money Patient moneyPatient money AdvocacyAdvocacy ExpertiseExpertise Asset DevelopmentAsset Development Inward InvestmentInward Investment ValidationValidation
- 19. Understanding Alternative Finance - Nesta, University Cambridge 2014 Non Financial Support
- 21. a few cases
- 24. Annan Harbour £6,002£6,002 the crowdthe crowd £4,500£4,500 EnvirocentreEnvirocentre skills pledgeskills pledge £10,300£10,300 LocalLocal CouncilCouncil £22,500£22,500 FLAGFLAG MatchMatch FundingFunding ++ ++ ++ TOTAL RAISED £43,302£43,302 Crowd raised £6,002 Received £36,000 Reward CrowdfundReward Crowdfund
- 26. Average Success Rates 30% 75%with coaching
- 27. How To Do It?
- 28. The TAMP Process TT Targets AA Audit MM Method PP Plan/Prepare The Purpose of TAMP is to: Establish if crowdfunding is right for your project. Show how ready you are to crowdfund. Analyse which form of crowdfunding is best for you. Build a plan that will help you to run a successful crowdfunding campaign around.
- 29. Targets Why are you doing this? What do you need? When do you need it? Who are you targeting?
- 31. Method Reward Equity Lending Donation All or nothing Keep it all Duration Crowdcube Kickstarter MyParkScotland Funding Circle DIY ModelModel FormForm PlatformPlatform
- 32. Prepare & Plan Resources What do you need? Publishing Plan Channels, Content, Timing, Monitoring, Responding Responsibilities Who will do what? Crowd Fans, Influencers, Communicators Schedule When will things happen?
- 33. 3 Planning Phases Before After During •Resource development •Testing messaging •Due diligence •Identifying targets •Building awareness & anticipation •Promotion & outreach •Maintaining momentum •Growing & deepening •Tracking, responding & reflecting •Fulfilling & thanking •Retaining •Nurturing and growing •Exploring & harvesting
- 34. Finding Your CrowdFinding Your Crowd Primary Secondary Tertiary Followers Communicators Influencers
- 35. Components of a Good Campaign Run Your Own Campaign Preparation, Preparation, Preparation Get the Messaging Right Get off to a Good Start Monitor, Respond, Update Shorter is Generally Better Video, Video, Video
- 36. WorkshopWorkshop Split into 4 Groups •Read Case Study •Discuss It •Make Some Plans •Write It Up Feedback To The Room 10 Minutes Per Group 5 Minutes 50 Minutes
- 37. Be Creative! • Targets • Audit • Building your crowd • Messaging • Channels • Scheduling Key AreasKey Areas
- 38. Tim WrightTim Wright Innovative Approaches To Fundraising For Parks And Greenspaces CrowdfundingCrowdfunding The Grassmarket Centre Thursday, 3 March 2016
Editor's Notes
- We are a management consultancy specializing in the crowd economy and work with organisations at a strategic level to help them create value from the opportunities it presents.