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5 Best Practices in Nonprofit Crowdfunding

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5 Best Practices in Nonprofit Crowdfunding

  1. 1. Five Best Practices for Nonprofit Crowdfunding Rob Wu, CEO of CauseVox www.causevox.com @causevox @robjwu
  2. 2. I Raised Over $125,000 In 10 days via social media and crowdfunding for the Red Cross
  3. 3. Create your own fundraising site Nonprofit crowdfunding & peer-to-peer fundraising campaigns
  4. 4. Launch a campaign in 4 easy steps It takes minutes to start fundraising. No coding required. Design your campaign Customize your site settings Enable personal/team pages (optional) Take donations! 1 2 3 4 Find out more at www.causevox.com
  5. 5. What Is Crowdfunding?
  6. 6. Three Major Forces in Crowdfunding Recovering Economy Consumer Behavior Ubiquitous Internet
  7. 7. 30% of the $5 billion crowdfunded went to social causes in 2013.
  8. 8. Best Practice 1: Start With a Well-Defined Goal
  9. 9. Use a Baseline  How much have we raised online in the past year?  What is the average amount that we have raised in a campaign or event?  What is the average donation amount online for us? (it’s $88 for in crowdfunding)
  10. 10. If You Don’t Have a Baseline, Think About…  How much do I need to make an impact?  How much does the product or service that I want to create cost?  How much did similar crowdfunding campaigns raise?
  11. 11. Shift Your Perspective Impact Unit Metric Dollar Metric
  12. 12. Make Your Goals SMART
  13. 13. Best Practice 2: Rethink Rewards & Donation Tiers
  14. 14. What Are Rewards/Premiums?  Rewards are items, recognition, or a service that you’ll get for contributing a crowdfunding campaign.  They are also known as perks or gifts, and are used as incentives to motivate people to support a campaign.
  15. 15. Rewards Actually Reduce Giving!  You should focus on impact-focused rewards instead.  Example:  Hand-sewn scarves from a family who started a local business as a result of your donor’s micro-finance loan  Personal letter from a child who you sponsored for her education.
  16. 16. Focus On Impact Tiers Instead
  17. 17. Best Practice 3: Create a Compelling Story
  18. 18. Let’s look at Hollywood storylines to help you create a compelling story.
  19. 19. Overcoming The Monster Similar to James Bond, Batman, or the Avengers, you can show your organization overcoming a villain or some form of adversity.
  20. 20. Rags To Riches Like Chris Gardner in Pursuit of Happyness, showcase your organization or individual(s) transitioning from a low to a much better place.
  21. 21. The Quest Tales of a dedicated group of people who encounter perils along the way to reach an ambitious (Lord Of The Rings).
  22. 22. Tragedy In Breaking Bad, Walter White dives into the world of making meth. He falls into something bad and gets more and more evil each day. You can focus on the negative as part of your storyline
  23. 23. Best Practice 4: Build A Tribe Of Champions
  24. 24. Rely On The People You Know First
  25. 25. Rely On The People You Know First  Promoters - People that will share your campaign and updates via email, social media, etc. They’ll amplify your reach. Think of them as your own publicity team.  Fundraisers - People that will help solicit for donations via peer-to-peer fundraising. They’ll create a mini-crowdfunding campaign through personal fundraising pages. You’ll raise twice as much this way.  Donors - People that will contribute to your campaign.
  26. 26. Best Practice 5: Leverage Press For Your Campaign
  27. 27. Not All Campaigns Should Focus On Publicity & Press
  28. 28. 3 Steps To Get Press  Target - Use free tools like Twitter Search to find journalists that have an interest in your area. Jot down their contact info (Twitter handle and email address).  Prepare - Ask yourself, why is this newsworthy? Why would the journalist want to write about me? Why would her audience want to read the article? Come up with a press release and pitch materials based on your newsworthy story.  Pitch - Contact the journalists that you’ve identified, tell them your story, and give them more info about your campaign.
  29. 29. Best Practices Summary 1. Start with a well defined goal 2. Rethink rewards and donation tiers 3. Create a compelling story 4. Build a tribe of champions 5. Leverage press for your campaign
  30. 30. Additional Resources  Introduction to Crowdfunding for Nonprofits  How to Plan a Nonprofit Crowdfunding Campaign  Hollywood Storylines for Nonprofit Crowdfunding  Publicity for Online Fundraising  Community for Online Fundraising
  31. 31. CauseVox #GivingTuesday Resource Center www.causevox.com/givingtuesday
  32. 32. Connect With Us! Interested in a demo or have questions? Contact us directly at support@causevox.com. We’d be happy to help! Visit us at causevox.com twitter.com/causevox facebook.com/causevox

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