Crowdfundingworkshoptwintangibles 110629124458-phpapp01

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Crowdfundingworkshoptwintangibles 110629124458-phpapp01

  1. 1. Contact us +44(0)7717714595 www.twintangibles.co.uk info@twintangibles.co.uk Crowdfunding Workshop 28/6/11 IA Centre, Skypark, Glasgow twintangibles 2011 social media at work consulting – strategy - research
  2. 2. What is Social Media?
  3. 3. Social Media Mindset
  4. 4. Tribes
  5. 5. The Long Tail Products Popularity "We sold more books today that didn't sell at all yesterday than we sold today of all the books that did sell yesterday." Josh Peterson - Amazon
  6. 6. What is Crowdfunding? “The collective cooperation, attention and trust by people who network and pool their money and other resources together, usually via the internet to support efforts initiated by other people or organizations.”
  7. 7. 3 Crowdfunding Models •  Reward based Crowdfunding •  Equity based Crowdfunding •  Microfinance Lending (P2P-lending)
  8. 8. 2 Further Flavours • All or nothing Meet your target or you receive nothing • Keep it all Retain any funding generated regardless of target
  9. 9. Decide on Project and Target Target, Launch, Promote Collect Funds Decide Rewards and Duration Choose Platform and SM tools
  10. 10. Select Project Target Met Collect Reward Purchase your Reward Promote The Project
  11. 11. •  Key characteristics o Microfinance – low barriers, larger tribe o Rewards – its not just equity o Targets – Defined goals o Time limited – Defined end point o Viral promotion – Incentive to spread the word o Project based – Rarely operating costs
  12. 12. Where is it used? •  Charities •  Creatives •  VC’s •  Entrepreneurs •  Micro lending •  Campaigning
  13. 13. Example 1
  14. 14. Example 2 • First time any company in Europe had attempted to raise money via an online share offering • Significant expense in setting up project • SE helped them with part of the costs •  10% Firms Equity •  £230 per share •  1300 investors •  20% off in the shop! •  No platform
  15. 15. Crowdfunding Tools •  Crowdfunding platforms •  ProjectFinder •  Facebook Causes •  Chip In •  Six Degrees •  Just Giving
  16. 16. Why use a Platform? •  Turnkey solution •  Meeting place for investors/donors •  Inbuilt community •  Reduce transaction cost •  Social Media Integrated •  Reduces legislative complexity
  17. 17. Characteristics •  Sector specific: creative, entrepreneurial, community… •  Country limitations •  Traffic •  Min./Max. total of contribution •  Service and/or payment Fee •  Rewards/Perks: set by platform/project holder •  Time limit
  18. 18. Examples
  19. 19. Examples
  20. 20. Examples
  21. 21. Examples
  22. 22. Equity - based platforms
  23. 23. Project Example 1: Emmy’s Organics $15,000 Goal Average donation $150 11+1 Reward Categories
  24. 24. Project Example 2: IronBratz
  25. 25. Project Example 3: TikToc LunaTik $15,000 Goal Average donation $70 6 Reward Categories
  26. 26. Some Numbers •  Kickstarter – About 43% of initiatives are successfully funded. – In the two years since Kickstarter's launch, close to 592,000 people have helped to back more than 7,500 successful projects •  Kiva – has collected $211 million for worldwide projects. – Nearly 550,000 entrepreneurs have received loans. – The repayment rate is 99%.
  27. 27. Components of a Good Campaign
  28. 28. Keys for Success •  Be Social Media ready •  Check how Social Media ready your audience is •  Set an achievable target •  Create a powerful pitch •  Reward people •  Spread the word •  Say thank you •  Be Human = Be Social
  29. 29. Keys to Success •  Have a strategy – You need a plan •  Select your project carefully – It must be realistic & achievable •  Identify your target audience/s •  Select your platform carefully •  Develop your rewards – More is better, be creative •  Create your pitch – Stories, passion & video •  Select your channels – They vary •  Develop a publishing plan – What resources can you draw on •  Define the resource required – Who will do this, & when. A team? •  Set a time frame – Even if the platform is open time give your self one •  Engage – Listen, nurture, converse, respond •  Give your funders privileged access to information •  Promote – Don’t assume that people know •  Keep updating •  Honour your promises •  Say thank you!
  30. 30. Intangibles •  Organisational Capital •  Human Capital •  Relationship Capital
  31. 31. Twintangibles  ©  2011  
  32. 32. www.twintangibles.co.uk info@twintangibles.co.uk @twintangibles

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