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IOF crowd funding slides july 2011

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A session about Crowd-Funding given by Nick Burne at THINK Consulting Solutions at the IOF National Convention in July 2011 with Ed Whiting from WeDidThis and Tamasine Johnson from the National Trust.

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IOF crowd funding slides july 2011

  1. 1. Crowd-sourcing meets fundraising in a digital age<br />Starring…<br />Nick Burne<br />Ed Whiting<br />Tamasine Johnson<br />
  2. 2. 2<br />http://slidesha.re/iofcrowds<br />
  3. 3. Crowd Quiz!<br />Users of Wikipedia have made more than 2 billion edits<br />Users Kiva.org have loaned more than $200 million<br />Roughly 2/3rds of people who have donated on Cancer Research UK’s My Project website are new to the charity<br />In 1997 American fans of the band Marrillon underwrote an entire US tour to the tune of $60,000, with donations following an internet campaign - an idea conceived and managed by the fans before any involvement by the band<br />A writer for Wired Magazine coined the term crowdsourcing in June 2005<br />
  4. 4. 4<br />What is crowd-sourcing?<br />
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  16. 16. 16<br />Why?<br />
  17. 17. Start with...<br />A QUIZ OR A VIDEO<br />TREND #1<br />Transparency<br />
  18. 18. TREND #2<br />Choice<br />
  19. 19. Start with...<br />A QUIZ OR A VIDEO<br />TREND #3<br />Social media<br />
  20. 20. (Thanks to Amy Ward -www.amysampleward.org)<br />
  21. 21. TREND #4<br />Gamification<br />
  22. 22. 22<br />What’s so different about <br />crowd-funding compared <br />to what we do now?<br />
  23. 23. Traditional model (B.W.)<br />ORG<br />
  24. 24. Web 1.0<br />.ORG<br />
  25. 25. .ORG<br />Web 2.0<br />
  26. 26. ?<br />?<br />?<br />?<br />
  27. 27. 27<br />It’s NOT about you…<br />
  28. 28. 28<br />It’s about US<br />
  29. 29. 29<br />It’s about THEM<br />
  30. 30. Crowdfunding - our experience<br />Ed Whiting<br />Founder, WeDidThis.org.uk<br />@WeDidThisUK<br />
  31. 31. How it works<br />Arts organisations pitch projects to the WeDidThis marketplace, offering rewards tied to specific giving.<br />Individuals and companies pledge funds to projects.<br />Organisations receive funds once they reach their funding target (if unsuccessful, pledges are not redeemed). <br />Great art gets made. Funders get rewarded. <br />July 6, 2011<br />31<br />
  32. 32. Similar (US) models have seen success..<br />Particularly<br />The Duck’s wife <br />Dance<br />90 Backers <br />$6,459 raised<br />Spore<br />Sculpture<br />146 backers <br />$15,308 raised<br />Blue like jazz<br />Film<br />4495 backers <br />$345,992 raised<br />Above hell’s kitchen <br />Theatre <br />61 Backers <br />$16,561 raised<br />And also…<br />…but its potential is not yet fully realised<br />Leviathan lab presents Twelfth Night<br />Theatre<br />50 contributions <br />$6,625 raised<br />SoLuna <br />Performing arts school.<br />76 backers<br />$10,058 raised<br />July 6, 2011<br />
  33. 33. About us<br />For UK arts organisations and artists<br />Over £25k raised in first 5 months, 8 success stories so far.<br />Projects launched on monthly cycle, with a ‘prize week’ and party every month. <br />Media coverage on BBC news, Metro, Guardian, Radio 4 (among others).<br />Not for profit - reinvest profits in UK arts sector.<br />“Art for everyone, funded by everyone”<br />
  34. 34. Benefits for arts organisations<br />Yes, it’s a new source of funding, and a great way to turn supporters into funders…<br />… but…<br />It’s not only about the money! <br />Audience development<br />Cultivation of longer-term funders<br />Engaging audiences/ funders in the creative process.<br />Our new approach is designed to support artists to do all of this - including tighter social media integration, monthly events and funder offers.<br />
  35. 35. Where next- local ‘collectives’?<br /><ul><li> A crowd of local arts projects fundraising in the same month. Events at start and end of the month to bring together potential funders and build momentum. Use the month to build local press, ambassadors, and corporate support behind the collective.Cross-funding opportunities, a local critical mass - more than the sum of our parts!</li></li></ul><li>Opportunities to evolve the crowdfunding model….<br />Partnerships - with like-minded brands and groups. Help us form a crowd of arts supporters, build opportunities to engage them in different ways.<br />Merging Fundraising/ E-commerce space (e.g. WeDidThis / Culturelabel.com partnership).<br />Spreading corporate support across arts projects - not just the biggest - and make corporate support for the arts about employee reward as well as CSR/ client entertainment. <br />
  36. 36. FAQs<br />‘All or nothing’ - why?<br />Why a 1 month fundraising period?<br />How much to go for? <br />Gift aid? <br />Target audience - ours/ projects?<br />
  37. 37. Any other questions?<br />Want to know more?<br />Interested in getting involved? <br /> Email: ed@wedidthis.org.uk<br />Follow us: WeDidThisUK<br />
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  42. 42. Any good news?<br />
  43. 43. What now?<br />A product not a game<br />Refocus & learn from Farmers<br />Refine user experience & nurture community<br />Spend money on marketing!<br />
  44. 44. Takeaways<br />Involve people, don’t just broadcast – it’s about engagement and long term relationships.<br />Do, Review, Plan – be brave but learn from your mistakes!<br />Crowdsourcing goes beyond Crowdfunding – money is just the start…<br />
  45. 45. 46<br />The principles of<br />crowd-funding are just <br />successful online fundraising<br />
  46. 46. Start with...<br />A QUIZ OR A VIDEO<br />How can you be more transparent?<br />
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  49. 49. How can you give donors more choice?<br />
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  51. 51. Save the children<br />
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  53. 53. Start with...<br />A QUIZ OR A VIDEO<br />How can you make your online donation experience more social?<br />
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  55. 55. How can you use gamification?<br />
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  58. 58. Online fundraising SUCCESS<br />S – storytelling<br />U – unexpected<br />C – choice<br />C – credible<br />E – emotional<br />S – show<br />S – social<br />Adapted from Made to Stick: Why Some Ideas Survive and Others Die, <br />Chip and Dan Heath 2007<br />
  59. 59. 60<br />Thank you,<br />we’ll be sticking <br />around for questions<br />
  60. 60. What can you do tomorrow?<br />Find a project & a platform & just test it!<br />Review your donation process thinking about crowd-funding principles<br />If you have the budget think about doing a crowd-funding test<br />Organise a brainstorm <br />
  61. 61. Challenges<br />#1 – Restricted income<br />#2 – Resources<br />#3 – Promotion<br />
  • spcrump

    Feb. 2, 2012
  • takukumazawa

    Aug. 10, 2011

A session about Crowd-Funding given by Nick Burne at THINK Consulting Solutions at the IOF National Convention in July 2011 with Ed Whiting from WeDidThis and Tamasine Johnson from the National Trust.

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