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The Crowdfunding Craze in Higher Education

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The crowdfunding craze has undoubtedly transformed the fundraising landscape as we know it. By using some of the key techniques employed by traditional crowdfunding platforms, universities have the ability to move beyond crowdfunding to reach the holy grail of fundraising: sustained donor engagement. Higher ed institutions that combine the collaborative nature of crowdfunding with the right technology, storytelling and timed push periods, are the ones that will succeed in creating personalized user experiences that will turn one-time fans into consistent supporters.

Presenters: Jamie McDonald, founder of GiveCorps, and Dayna Carpenter, director of annual giving at University of Maryland Baltimore County (UMBC), share tips to help move higher ed fundraising campaigns beyond crowdfunding, including:
• How to create a collaborative campaign with unique, individualized user experiences
• Tips to keep donors engaged throughout the campaign period
• Best practices to transform one-time campaign donors into longtime advocates

Published in: Education
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The Crowdfunding Craze in Higher Education

  1. 1. #eduweb14 The Crowdfunding Craze in Higher Ed
  2. 2. #eduweb14 Jamie McDonald Follow @genero_city Chief Giving Officer of Network for Good Founder of GiveCorps, online giving software for nonprofits and Higher Ed Dayna Carpenter Follow @boyles_d Director of Annual Giving at UMBC Board of Directors – Northeast Annual Giving Association, Ltd. Today’s presenters
  3. 3. #eduweb14 Crowdfunding has a long HISTORY
  4. 4. #eduweb14 Now, Crowdfunding is making waves in Higher Ed
  5. 5. #eduweb14 haven't CHANGED The fundamentals for higher ed
  6. 6. #eduweb14 But your passionate community …students, alumni, parents, faculty, staff, others
  7. 7. #eduweb14 Has more power to move the needle... …even with annual giving.
  8. 8. #eduweb14 With crowdfunding, social media + great technology...
  9. 9. #eduweb14 It’s like a party for your school
  10. 10. #eduweb14 What is it? Crowdfunding: Project-Based Annual Giving
  11. 11. #eduweb14 What is it? Crowdfunding: Giving Days
  12. 12. #eduweb14 What is it? Crowdfunding: Peer-to-Peer Fundraising
  13. 13. #eduweb14 What is it? Crowdfunding: Student/Faculty Philanthropy
  14. 14. #eduweb14
  15. 15. #eduweb14 Crowdfunding: building major gift funnel Planned or Principle Gifts Major Gifts Annual Giving Crowdfunding Principles
  16. 16. #eduweb14 Segmentation • Prescriptive vs. Self-selected Segmentation • Lead-Generation and Data Capture Tool • If used right, reduces donor fatigue – Changes the “voice” of the Asker – Subtle way of involving donors in a “second ask”
  17. 17. #eduweb14 Phases of a Capital Campaign (and a Crowdfunding Campaign) • The Quiet Phase • The Campaign Kickoff • The Public Phase • The Campaign Closing Celebration
  18. 18. #eduweb14 Rosso’s Concentric Circles Constituency Model
  19. 19. #eduweb14 UMBC Crowdfunding: Pilot • Launched in June of 2013 • Partial responsibility of one staff person • Focused on student organizations • 323 total donors • 8.5% of all first-time donors to UMBC • $16,838.50 (Average gift of $52.13)
  20. 20. #eduweb14 UMBC Crowdfunding: The Future • Connecting with Events • Incorporating in Direct Mail and Calling Efforts • Personalized pages for high-end donors • Team – or – Board/Chapter-based Giving
  21. 21. #eduweb14 What’s the right goal? Donors New Donors Dollars Recurring Givers Participation
  22. 22. #eduweb14 You can still use a giving pyramid to determine goal Raise $50,000 in campaign • 8,500 donors in data file • 3% participation (and you’ll definitely attract new donors, so this should be a safe bet) • 255 Donors 22 (Planning + Inspiration) = Success
  23. 23. #eduweb14 Challenges Matching FundsEvents
  24. 24. #eduweb14 Teach campaign managers to be contagious Regular, SHAREABLE content Donor list Prospect list Faculty/Staff Students Social channels Media Administration Hint: COPE - Create Once; Publish Everywhere
  25. 25. #eduweb14 • Ideally: – Clean, simple giving process – Automated thank you and tax receipt – Mobile-ready for both learning and giving – Be easy for your team to set up, update, and manage – Embedded social sharing – Instant reporting on the progress of your campaign – Multiple inspiring fundraising pages – Equipped to show your matching funds – Peer to Peer fundraising capability – Donor scroll online Buy vs. Build? What online giving capabilities do I need?
  26. 26. #eduweb14 Case Study: Project-based annual giving
  27. 27. #eduweb14 Case study: Giving Day
  28. 28. #eduweb14 Case study: Peer or Ambassador Campaign
  29. 29. #eduweb14 Case study: Student Philanthropy
  30. 30. #eduweb14 The Long-Term “Sticky” Donor • Provides a great “first” giving experience • Highlights direct donor impact • Broadens fundraising constituency • Identifies donor interests – contributing to marketing opportunities • Turn students and young alum into Philanthropists – instill habit of giving
  31. 31. #eduweb14 Thank You jamie@givecorps.com dayna@umbc.edu higher ed solutions: GiveCorps.com

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