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Social Media and Crowdfunding for Charities by Ideavibes


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Presentation given on Feb 24/2011 at CSI in Toronto to Charities and Non-Profits on the topics of Social Media and Crowdfunding. Attention was paid to Fundchange as a new crowdfunding initiative in Canada sponsored by TELUS.

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Social Media and Crowdfunding for Charities by Ideavibes

  1. 1. Social Media and<br />Crowdfunding<br />Paul Dombowsky & Evelyn So<br />
  2. 2. Workshop Overview<br />Time: 8:30 to 10:30am<br />Speakers: Paul Dombowsky<br /> Founder and ceo of Ideavibes / Fundchange<br /> Evelyn So<br /> Founder of Noesium<br />Follow-up: Slides<br />4<br />
  3. 3. Agenda<br />8:30 Introductions and Format<br />8:45 Social Media Overview by Evelyn So<br />Experience from the trenches - what are people experiencing<br />Impact on fundraising efforts<br />9:15 Crowdfundingby Paul Dombowsky<br /> What is it and how can you use it?<br />Options for engaging a new generation of donors<br /> Project based or ‘doable ask’ focused fundraising<br /> – what is it and how can you participate<br />10:00 Wrap-up and Questions<br />4<br />
  4. 4. Crowdfunding - what do you need?<br /><ul><li> A crowd
  5. 5. Business challenge / problem / question you want answered – ideas
  6. 6. A process and tool for engagement
  7. 7. Trust and commitment in your crowd to take action
  8. 8. Key performance indicators – what does success look like?
  9. 9. Proof of action – your crowd wants to see what happened</li></ul>2<br />
  10. 10. Donor Generations<br />4<br />
  11. 11. Where Donors are Giving<br />4<br />
  12. 12. Online Giving<br />“Fundraising Trends and Challenges in the Canadian Direct Marketing Sector”, a research paper from 009 by Cornerstone Group of Companies shows:<br /><ul><li>donors who make their first gift to an organization online as opposed to via direct mail have a much higher average gift </li></ul> $73 vs. $30<br /><ul><li>There are now more than 4 times the number of new donors, per organization, from online initiatives than 5 years ago (9M to 40M).”</li></ul>2<br />
  13. 13. Who is your crowd?<br />The crowd you know The crowd you don’t know<br />Social Media Makes the Connection<br />4<br />
  14. 14. Projects or Doable Asks<br />Easier for most people to wrap their head around a smaller project as opposed to a ‘cure’ or a ‘hospital wing’<br />Examples:<br />Piece of medical equipment<br />Stream revitalization<br />Education program<br />Conference attendance<br />Sports equipment for a couple kids<br />5<br />
  15. 15. Examples: Fundchange<br />Post<br />Promote<br />Share<br />Search/Filter<br />Fund<br />Receipt<br />Report<br />Costs:<br />$99 + hst to join<br />includes 2 postings<br />3.9% processing fee<br />6<br />
  16. 16. Examples: Crowdrise (US only)<br />Post<br />Promote<br />Fund<br />Report<br />6<br />
  17. 17. Benefits & Challenges <br /><ul><li>It’s social – the crowd promotes projects it likes
  18. 18. It’s social – the crowd won’t promote projects that aren’t shareable
  19. 19. Success comes to those that are actively building a crowd
  20. 20. A challenge for organizations new to social media
  21. 21. It’s the free market at work
  22. 22. It’s the free market at work
  23. 23. Build stickiness to the project
  24. 24. Need to pay attention to write-up to inspire funders</li></ul>8<br />
  25. 25. Integrating Crowdfunding into your Organization<br />Things to keep in mind:<br /> <br /><ul><li>Crowdfunding success comes quickest to organizations that are social media aware and engaged. If your organization is not yet social media-enabled, it will take time and human and financial resources to do so.
  26. 26. Because your efforts are only as good as the crowd you are able to mobilize to your cause, it makes sense that your organization strategically manages and promotes its brand online.
  27. 27. Make sure your target audience is online and will give online
  28. 28. If you opt to post your projects on established crowdfundingsites, do your homework – be careful of the company you keep. </li></ul>8<br />
  29. 29. Resoruces<br /><ul><li>Donor stats, etc. came from “The Next Generation of Canadian Giving” – Nov. 2010 – by VinayBhagat, et al
  30. 30. “The Wisdom of Crowds” – book by James Sudwecki
  31. 31. “Crowdsourcing” – book by Jeff Howe
  32. 32. “Fundraising Trends and Challenges in the Canadian Direct Marketing Sector”, a research paper released in 2009 by Cornerstone Group of Companies </li></ul>4<br />
  33. 33. Thank you<br />Paul Dombowsky | 613.878.1681 |<br />Evelyn So | 647.223.3804 |<br />