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Crowdfunding Workshop November 2012


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Are you constantly looking for the right funding route but coming up empty handed? Are you looking for alternative routes to fund your project that doesn’t rely on public bodies? Would you like to start engaging people with your project now? Crowdfunding could be your answer.

Crowdfunding is a modern, online and interactive way to raise funds directly from the public – or the Crowd – for your projects and activities. With the advent of Crowdfunding we can now turn our audiences into supporters and funders, by collecting multiple small donations online and offering unique incentives to encourage giving, not only can you raise funds to get your project of the ground but you can start to build a ‘buzz’ around it before hand.

The workshop will cover all the aspects you will need to create, implement and market your Crowdfunding project. Including:
• How does Crowdfunding work?
• Where can I crowdfund – what platforms are available?
• How to write the perfect pitch.
• Choosing the right rewards.
• Marketing your crowdfunding project.
• Engaging, thanking and keeping in touch with your new funders.
• Marketing your progress.
• Your next steps.

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Crowdfunding Workshop November 2012

  1. 1. ‘It was the revolutionary fundraising model thatswept Barack Obama to power – and it could help arts bodies in Britain stay in business.’ Crowdfunding for the Arts, Cultural and Creative sector
  2. 2. CrowdfundingToday’s Workshop• What is Crowdfunding?• How does Crowdfunding work?• Where to Crowdfund?• Writing your pitch• Choosing rewards• Marketing your campaign• Keeping in touch with your funders• Tips and Pitfalls• Your First Steps This workshop is powered by HI-Arts
  3. 3. What is Crowdfunding? “Survival of the fittest for creative ideas. Lots of people – each giving a small amount – can make good things happen. The ‘crowd’ decides what’s good, what’s not, what they want to fund and what they don’t…Good ideas will shinethrough and the wisdom of the crowd to fund them is a really exciting prospect.” Crowdfunder
  4. 4. £5 or more – Acknowledgement on the Hamish Henderson Archive Trust website £10 or more – Acknowledgement in the first Hamish Henderson Journal £20 or more – Exclusive signed copy of the Journal £100 or more – Signed copy of the Journal and a VIP invitation to the launch£200 or more – Private View - personal viewing of some of the materials in the Henderson Archive.
  5. 5. Hamish Henderson Archives Raised £4,670 (£2,670 over their target) with 128 donations.On average people donated £36 each.
  6. 6. What is Crowdfunding?Let the projects explain…Help us grow into New Designers
  7. 7. Help us Grow into New Designers• The New Designers campaign finished on the 26th April 2012.• They have raised £585 - £85 more then their target• 30 people pledged to support the project.• On average people donated £20.
  8. 8. What is Crowdfunding?Let the projects explain…Bridport’s Lyric Theatre
  9. 9. Bridport’s Lyric Theatre• The crowdfunding campaign finished on 10th November 2011.• They raised £8,429.20 – £429.20 more then their target• 82 people pledged donations.• On average people donated £103.
  10. 10. How does Crowdfunding work?In a Nutshell…1. Pick the creative project or idea you want funded.2. Identify how much you need to raise.3. Pick a Crowdfunding website.4. Identify your story and your pitch.5. How will you reward your new funders?6. Tell everyone you know, and those interested in what you do, about it!
  11. 11. Where to Crowdfund?
  12. 12. Look for a host that offers support and advice in developing and communicating your project.
  13. 13. Find out how long the site will run your campaign
  14. 14. Check to see if the crowdfunding site charges you for raising funds?
  15. 15. Make sure you read any guidelines or terms and conditions before launching your project.
  16. 16. Setting your Funding Target• Core costs of the project• Rewards – what additional costs?• Ask for slightly more• Community commitment• Estimate the average pledge
  17. 17. Writing your pitchYou need to make the idea stick in the minds of potential funders…• Keep it Simple• Make it Unexpected• Create a Concrete idea• Make it Credible• Find the Emotion• Tell a Story Who, What, When, Where and How
  18. 18. Creating a VideoCreating a Video is Essential for:• Connecting with your funders• Demonstrating trust and value• Being clear and concise• Providing a short and sweet pitch
  19. 19. Creating a VideoWhat type of video?• Interview’s• Documentary• An animation• Photography SlideshowPointers• Keep it short and to the point• Clearly relate to the project• Quality of video footage• Editing• Audio• Creativity
  20. 20. What is a Reward?
  21. 21. What is a Reward?Let Plum explain…
  22. 22. Meme• Plum’s crowdfunding campaign ended on October 15th 2011.• She raised £5,040 (101% of her target)• 137 people backed her project.• On average people donated £36.
  23. 23. What is a Reward?• Your way of saying ‘Thank You’• Builds support for your future project, cause and/or organisation.• Act as a marketing and promotional tactic.• Must be creative and linked to your campaign.
  24. 24. £5 or more – A thank you Tweet.£20 or more – A personal thank you and link of your choice on my Hastastic! Facebookpage.£30 or more – Entry into raffle to win a bespoke commissioned headpiece.£40 or more – A promotional hat or headpiece made especially for your business event orad campaign or simply to wear.£50 or more – 30 minute talk on millinery from Chloe for your charitable or social event,plus a unique Hatastic piece.£100 or more – Afternoon for up to 5 people for a headpiece making class with Chloe.£500 or more – Pledge Package: Gratitude on all promotional materials, a handwrittenthank you, an exclusive bespoke hat for you or a friend, and a choice of a uniquebejewelled piece from the Lost Treasure Collection.
  25. 25. Why is Crowdfunding relevant to us now?• It is an enterprising solution to raising funds.• It is a new approach which cuts out traditional funding approaches and their requirements.• It enables communities to mobilise around the things they want to see happen;• Communities become investors in their own future.• It mobilises new money when traditional support is less available.• It is a good indicator of the eventual success of your project.
  26. 26. Telling the World aboutYour Crowdfunding Project
  27. 27. Social Networking
  28. 28. Next Steps: Marketing your projectCrowdfunding WebsiteYour Website – friends, partner and supporter websites (Web Release)Your Blog – friends, partner and supporter’s blogs (Blog Release)Your Social Networks – friends, partner and supporter social networks (Share)Community News, Radio, Magazines, Leaflets – local word of mouth (Press Release)National News, Radio, Magazines – national word of mouth (Press Release)Email Your Database – friends, partner and supporter’s forward emails (Links)eNewsletter – friends, partner and supporter’s newsletters (Links)Mobile SMS – ask them to share their text (Share)Presentations – at your events, activities, when selling (Word of Mouth)Posters, Leaflets, Postcards – For your community or beyond (Promotion)Letters – contact your fans, supporters, volunteers etc personally (Invite) Tell everyone you know! Get them to tell everyone they know!
  29. 29. Keeping your funders up-to-date• Update your Crowdfunding site• Thank You Cards• Blogging• Social Networking• Personalised Emails• Invitations
  30. 30. Tips Crowdfunding is not the easy option – any and all fundraising is hard!It helps, but it’s not necessary, to have a pre-existing community of supporters. Be resourceful – It can be hard to incentivise people, capture their imagination. Be clear – Set a completion date for the campaign, clearly define your goals and expectations. Be Informative – Offer as much information about your project as you can.
  31. 31. PitfallsProjects fail if…• You don’t express clearly the nature of your project.• Additional information is hard to come across.• You don’t tell anyone about it.• There is a lack of communication between yourself and your new funders.• You don’t follow up on rewards.• Your project doesn’t fit with the parameters of the Crowdfunding site you choose.• You choose not to produce a video.• You forget to build and nurture your online and offline community around your project.• You promise what you can’t deliver.• You focus on the negative.
  32. 32. FAQs• How long does a campaign last?• What happens when my project reaches its target funding?• How will I be able to contact my funders?• What happens if I don’t meet my target?• What happens if I reach my funding target before the end of the campaign?• Can I pledge to my own project?• Will the Crowdfunding site take a cut?• How do supporters collect their rewards?
  33. 33. Your First Steps towards Crowdfunding• The project idea• Delivery dates• Costs to deliver• Crowdfunding Target• What would Crowdfunding support• The benefits of the project• Crowdfunding video• Rewards• Potential donors• Marketing tactics• Keeping funders up-to-date