Crowdfunding and Audience Development - We are Museums Riga

Oonagh Murphy | www.oonaghmurphy.com | @OonaghTweets
*Crowdfunding +
It’s not *all about the money

@OonaghTweetsOonagh Murphy | www.oonaghmurphy.com | @OonaghTweets
Hello!
I’m Oonagh, Associate Professor of
Visual Arts Management and Curating

“Traditional” Funding

Crowdfunding

Influence Change

Take risks + gain support

Make Headlines

Image Credit: David Levene for the Guardian
There has been lots written on
Crowdfunding in the Arts
http://www.theguardian.com/culture-professionals-network/culture-professionals-
blog/2014/aug/07/crowdfunding-arts-live-chat-kickstarter
http://www.artquest.org.uk/articles/view/crowdfunding
http://www.goingnowhere.org/en/artandinnovation/crowdfunding
http://www.nesta.org.uk/project/crowdfunding
http://www.bbc.co.uk/news/business-24614331
http://www.californiareport.org/archive/R201407111630/d
http://thecrowdfundingcentre.com/?page=platform&domain=theartpreneurs.com

Thorpe, Devin, D. Crowdfunding for Social Good: Finance Your Mark on the World (Thorpe, Devin. 2013):14-15

Thorpe, Devin, D. Crowdfunding for Social Good: Finance Your Mark on the World (Thorpe, Devin. 2013):14-15
Number of Existing Network x $20 = E
Number of Partners x $2,000 = P
Number of Champions x $1,000 = C
Number of Boosters x $500 = B
Combine the Existing Network and Potential Network (from the project appeal chart)
Score 21-25 = 25% / Score 26-30 = 75%
E + P + C + B + Network Potential %

But is it equally as useful for developing
audiences? Developing new partnerships?
Developing new products and offers?
There has been lots written on
Crowdfunding as a way to raise funds

Crowdfunding
Lets think beyond the money
….

[Amplify]
A Crowdfunding Mentoring Program for the Arts
From Arts & Business NI
*Research Brief + Context
Arts & Business NI Launches Crowdfunding Toolkit
With shrinking budgets and increasing pressure to develop alternative funding
streams Crowdfunding presents arts organisations with the opportunity to rewrite
the relationship they have with their audiences.
Crowdfunding is one of the most powerful tools available for organisations to better
connect with their communities, increase reach and exposure, raise awareness of
their brand and mission, and measure compelling messages, with the opportunity to
raise funding that will go directly to their organisations.
But understanding the dynamics of a successful campaign can seem daunting at first,
so Arts & Business NI has developed a new crowdfunding toolkit which will take you
from concept to campaign launch.

Crowdfunding Toolkit
• What is Crowdfunding?
• 5 Case Studies
• How to Pick a Platform
• A Step by Step Guide to Developing a Crowdfunding
Campaign

[Amplify]

Crowdfunding is a great way to
commission innovative work

Crowdfunding is a great way to reach an
international audience

Crowdfunding is a great way to raise the profile of
your organisation

Crowdfunding is a great way to turn
digital networks into real world action

[Amplify]
Sinead Owens from Wheelworks (The Art Cart) : “The crowdfunding campaign
has been a very exciting experience. Part of that has been the new
partnerships we’ve formed and new networks we’ve created, including a
partnership with iTeach. We’ve been able to raise the profile of the
organisation and reach audiences we had never thought of reaching before, an
example being a slot at this year’s Friday Night Mashup as part of the NI
Science Festival. This experience is evidence to us that the success of a
crowdfunding campaign lies not only in the amount you raise but in the
support you receive aside from the money.”

[Amplify]
Procurement policy and crowdfunding are, it seems, often incompatible. One
campaign manager summed up this problem well: “They were really interested
in backing our project, but as soon as the procurement people got involved the
brakes were quickly pressed.” This was a major issue and each campaign
needed a mix of small individual and larger corporate backers to hit their
target.
Service provision – rewards as art workshops in care homes – test the market –
via crowdfunging

Ansoff matrix
• The Ansoff Matrix was first published in in 1957 by Igor Ansoff in the Harvard
Business Review
• The Matrix provides a framework for product development, and has been adopted
by lots of different industries to develop everything from audiences to event
programmes to new products (from new biscuits to cars).
•The Ansoff matrix is a
useful tool to help you
refine a crowdfunding
campaign concept

Existing
1.Market penetration
Existing audiences, same product, programme
or art form
Objective:
Encourage existing audiences, to visit again,
and more frequently
How?
Reward loyalty (repeat visits = greater access,
more content, special offers)
2.Product development
Existing Programme, New People
Objective:
Encourage new people to visit and use existing
product, programme or art form
How?
Encourage people, provide reassurance (seek
recommendations from people they trust)
Target the people you want and go to where
they are (online and offline)
New
3.Market extension
Same people, new product, programme or art
form
Objective:
offer opportunities to try out something new to
your existing audience
How?
Test with small groups
Provide opportunities to learn about and
develop a relationship with new product,
programme or art form
Go directly to your audience and offer the
opportunity to take part
4.Diversification
New People, new product, programme or art
form
Objective:
Deliver a new product, programme or art form;
to New People
How?
Develop relationships with your target audience
(new people)
Research the market (what similar product,
programme or art form already exists?) and
who engages with it? (audience)
Existing New
SERVICES/PRODUCTS
Ansoff Matrix

<< A STEP BY STEP GUIDE
TO CREATING A
CROWDFUNDING
CAMPAIGN >>

1.Project Title + Project Summary

2.Choosing a Platform

3.How much do you want to raise?
Project Cost
+ Platform fee
+ Rewards cost
+ Rewards postage fee
= Campaign Target

4.Campaign Duration
Indiegogo suggest that the optimum campaign
duration is 45 days.
“Statistically, projects lasting 30 days or fewer
have our highest success rates. Shorter projects
set a tone of confidence and help motivate your
backers to join the party.”
KickStarter

5.Rewards
• Copies of the thing The album (physical or digital!), the DVD,
a print from the photo exhibition.
• Limited editions Backers love limited editions. They celebrate
the special role backers played in helping the project come to life.
• Collaborations A backer appears in your comic. Every backer
gets painted into your mural. Two backers do the handclaps for a
song on your record.
• Experiences A visit to the set. A phone call from the author.
Dinner with the cast. A concert in your backyard.
• Mementos Polaroids sent from location. Thanks in the credits.
Meaningful tokens that tell a story.

5.Rewards
Name a character / Receive a credit / A high five
from the director / Good Kharma / Backers Party
/ VIP event bar / A digital artwork / A voicemail
jingle/ Original artwork / Bag / Pin badge/ Mug /
VIP Access / Performance/ Visit / Workshop /
Sponsorship / Branding / Corporate reward /
Membership / Tree planted in your name /
Bench or seat named after you / A meal cooked
by the artist/ A special suit cushion + waiter…..

6.Video
Short Videos = people watching it
Funny videos = people sharing it
Inspiring Videos = people sharing it
Random Videos = People sharing it
Good Video = Funded Campaign!
* Campaigns with Videos are statistically
more likely to be funded *

6.Video
Introduction and aim
Hello, I’m … and my goal is …
Context
What inspired your idea?
Your idea
Describe your idea. It can help to summarise it first and then go into more detail.
Your team
Introduce the people who are working on the project with you. What is their name, involvement, particular skill, etc.?
Testimonials
Try and get a video interview or recorded quote from someone that already supports your idea.
Why are you crowdfunding?
How much are you trying to raise? What will you spend the money on?
How to get involved
Why should the crowd make a pledge? What difference will their contribution make to the community?
How to make a pledge
Tell people how and where to make a pledge. Something along the lines of this works well:
“We’ve got lots of rewards to say thank you for your amazing support. Crowdfunder is an all or nothing platform so if we don’t
reach our target we won’t get anything!”
It’s not the end…
Leave people with a call to action and make it easy for them to pledge by putting your project page’s URL at the end of the video.
http://www.crowdfunder.co.uk/uploads/guides/video_script_template.pdf

7.Key Influencers
once a campaign raises over 20% of the initial funding
goal, the project has an 80% chance of successfully
reaching its total funding goal (KickStarter)
“In the first few days we got a lot of support from friends and family’s and
friend’s of friends. That really helped get us going”. Tim Potter – Raised
£13,335 to publish Chalky and the New Sports Car
“Make sure you have a network in place who are going to to be evangelists
for your KickStarter and promote it to absolutely everyone they know – for us,
the support of CultureTech and Northern Ireland Science Park was invaluable
in building that buzz and momentum ”. Jordan Earle – Raised £5,197 to host a
one day tech conference

8.Press

9.Launch

10.Support from Colleagues

11.Campaign Management
It’s like a 24/7 presidential campaign
– Tim Potter
When you submit a funding application, you have to sit back and wait.
When you launch a Crowdfunding campaign the work has just begun….

12.Project Delivery
(Think of this as your funder
report – but with less
numbers and more sending
fun stuff in the post to your
backers)

It could be said that one of the greatest
myths about the museum is that it is an oasis
of calm untouched by the storms of politics
and history. Nothing could be further from
the truth. **Over time, the museum has
responded to political and social shifts with
seismic precision.** Its very success is the
result of its exceptional flexibility and
capacity to adapt.
Karsten Schubert, The Curator's Egg - The Evolution of The Museum Concept from The French Revolution to the Present Day
(London: Riding House, 2009), p. 75.

Questions?

Crowdfunding and Audience Development - We are Museums Riga

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