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Journalism crowdfunding, Sebastian Esser #gijc15

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Journalism crowdfunding, Sebastian Esser #gijc15

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Journalism crowdfunding, Sebastian Esser #gijc15

  1. 1. Why crowdfund? • Cut out the middle men • Team up with your readers, listeners, viewers • Screw advertising
  2. 2. What is Krautreporter? • Crowdfunding in May/June 2014 • 17.000 members, around M1€/y1 budget • daily longform background stories • close collaboration with our members • Crowdfunding to kickstart membership model
  3. 3. • Special enterst of a tight community • High personal engagement • New role of journalists – consumers become participants Why pay for journalism?
  4. 4. Members are experts
  5. 5. #1: How to calculate a realistic funding goal • Rule of thumb No.1: Around 5 percent of your community will support you • with around 20 to 30 Euros on average • Community = only people that you are able to contact in time before your campaign ends
  6. 6. Examples
  7. 7. Example KR • €900,000 funding goal, 
 €60 membership • 900,000 / 60 = 15,000 people • 15,000 = 5% 
 300,000 = 100% • we needed to reach 
 300,000 interested people
  8. 8. #2 How to pick the right funding goal • Rule of thumb No.2: Always ask for the smallest amount that you can work with • People do not stop supporting you once you hit the 100 percent • don't ask for less than you need to keep your promise (obviously)
  9. 9. #3: How to build a community and stay in contact • Rule of thumb No.3: One third of the money should come in within the first week of the campaign • that third has to come from people that you know directly, in most cases personally. • So basically: In the beginning you need to ask your family and friends for money.
  10. 10. #3: How to build a community and stay in contact The valley of death
  11. 11. #3: How to build a community and stay in contact • start building a community before you start your campaign • prepare for one piece of content a day – "one good news, every day“ • Most important: think of the campaign as a narrative – tell your story
  12. 12. #4 Ways to improve your chances of succeeding • crowdfunding is not a exchange of money for goods, but a means of communication • most people will give you what you tell them to give
  13. 13. #5: How to communicate with your crowd • Journalists are bad communicators • Communication is a job by itself • You’ll need help
  14. 14. writethatdown.de
  15. 15. Sebastian Esser se@krautreporter.de @sebastianesser

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