Building your Crowdfunding Campaign
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Rewards Based Crowdfunding is more than capital 1. Provides Market Validation 2. Crowdsourcing your product development 3. Platforms have apps to help you value your company 4. Provides focus on Minimum Viable Product 5. Democratizes the funding process
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Building your Crowdfunding Campaign
- 1. Rewards Based Crowdfunding Domenick Celentano ● http://www.domenickcelentano.com/ ● dom@domenickcelentano.com
- 2. Crowdfunding vs. Traditional Funding? • Provides Market Validation • Crowdsourcing your product development • Platforms like Equitynet have apps to help you value your company • Provides focus on Minimum Viable Product • Democratizes the funding process
- 3. Crowdfunding – Rewards Based Crowd Incentives Crowd Contributions Identification Funding Emotion Attention Created by Influencers Rewards Buy-in Components (relevant and synergistic) (you can execute)
- 4. Crowdfunding Don’t Start By Raising Money
- 5. Start by Developing a Solid Business Model customer How You Make Money… Consists of these 9 Areas relationships key activities value proposition customer segments key partners cost structure key resources channels revenue streams Once you do this, you are ready to start Crowdfunding
- 6. Building a Crowdfunding Campaign
- 7. Building a Crowdfunding Campaign • Planning • Campaign starts months prior to launch • Crowdfunding starts with you, your family and friends • Must develop a social media strategy • There is no single solution
- 8. Building a Crowdfunding Campaign • Planning • It Social • Develop Email List • Social Media • Blogger & Publication Outreach • Schedule Press Release
- 9. Building a Crowdfunding Campaign • Planning • It Social • Campaign elements •Pre-Campaign •Campaign •Post-Campaign
- 10. Building a Crowdfunding Campaign • Pre-Campaign • It’s Social • Awareness • Project Management • Production & Content • Social Currency & Outreach
- 11. Building a Crowdfunding Campaign • Pre-Campaign • It’s Social • Awareness • Social Sharing • Marketing Events
- 12. Building a Crowdfunding Campaign • Pre-Campaign • Campaign • Post-Campaign • Wrap-up & Assessment • Program Implementation • Fulfillment & Communications • Harvest Opportunity
- 14. Product Development Product Launch Post Implementation Review Ideation NEW PRODUCT DEVELOPMENT Preliminary Investigation Detailed Investigation Development Testing Validation Full Production Market Launch Robert Cooper New Product Development Stage Gate Model NEW PRODUCT LAUNCH Adv/PR/Comm. Selection & Planning 1 Launch Plan Development 2 Market Evaluation Tracking Research Distribution Plan Channel Mgmt Plan 3 Campaign & Promotion Planning 4 5 6 7 Critical Evaluation Adv/PR/Comm. Period Promo Execution Schneider Associates New Product Launch Stage Gate Model
- 15. Product Development - Product Market Fit Validation The Pitch Project Name Ideation Project URL Elevator Pitch Preliminary Investigation Detailed Investigation Development Testing Validation Phase 2 – Development & Testing Incentives (Rewards) Funding - 30 Days - $35,000 Milestones Full Production Market Launch Updates
- 16. Product Launch - Market Validation Adv/PR/Comm. Selection & Planning 1 2 Launch Plan Development Phase 3 – Launch Support Costs Incentives - Funding – 30 Days - $45,000 Milestones Market Evaluation Tracking Research Distribution & Channel Mgmt 3 Campaign & Promotion Planning 4 5 6 7 Critical Evaluation Adv/PR/Comm. Period Promo Execution Schneider Associates New Product Launch Stage Gate Model Updates
- 17. Crowdfunding Rewards Based – A Pathway to Equity
- 18. A Pathway to Equity • Think of it as your Capital Ladder • Start with Rewards campaign to building economic and brand value in the venture without sacrificing ownership interests • Gives you early market validation using your Minimum Viable Product (MVP)
- 19. A Pathway to Equity Jason Kulik, Elizabeth Kulik, CoFounders Prohatch “There have already been companies on other CFPs that have closed traditional rounds following a successful reward campaign. We believe donation & reward crowdfunding models will play just as important a role in strategic capital formation“ Ouya, a new open sourced gaming console Funded a $8.6M rewards campaign Garnered 60K preordered units 9 months later Kleiner Perkins led an additional $15M round Largest institutional investments in reward-based crowdfunding campaign to date
- 20. Many Thanks! ProHatch, www.ProHatch.com, is a responsible Crowdfunding incubator where Projects Hatch & Grow. We connect people around their overlapping business, philanthropy and personal interests as they create, support and fund responsible social impact, business and community development.
- 21. Thank You Domenick Celentano ● http://www.domenickcelentano.com/ ● dom@domenickcelentano.com
Editor's Notes
- Platforms have formats that are investor friendly and takes the guess work out of what the investor wants to see.Crowdsourcing your product development Equitynet matches you to the industry and their software creates a valuation by pulling valuations from their sources as well as industry sources.Helps company focus on Minimum Viable ProductDemocratizes the funding process since practically anyone who believes in your company can take out their wallet and support you via a small loan, equity investment or a straight donation for a rewardTOC, 1 week: Melt Organics less than 6 monthsEyenalyze investors… 90% are multi-unit restaurant chains… which will be their customers upon product launch launch of our product will add enormous value to their business through the delivery of information they were not able to easily retrieve.
- KickStarter pioneered approximately 5 years ago
- Develop Email ListSocial MediaBased on audience, ID social media platforms to use, social circles to connect and engageSocial media strategy & road mapGoals & hold team accountableHow will you engage?Social Media Advertising OptionsBlogger & Publication Outreachbuild list of 20-25 influential bloggers in your industry to contactDraft and schedule Press Release
- Develop Email ListSocial MediaBased on audience, ID social media platforms to use, social circles to connect and engageSocial media strategy & road mapGoals & hold team accountableHow will you engage?Social Media Advertising OptionsBlogger & Publication Outreachbuild list of 20-25 influential bloggers in your industry to contactDraft and schedule Press Release
- Sharing Email, Facebook, Twitter etc.Develop drafts in advanceTry different ways of asking your audience to share Marketing EventIncorporate real-time events to build excitement
- Sharing Email, Facebook, Twitter etc.Develop drafts in advanceTry different ways of asking your audience to share Marketing EventIncorporate real-time events to build excitement
- Have each person plug in costs for each stage gate to illustrate phase to raise
- Reward-based crowdfunding and the newly introduced equity-based models can be combined in a very effective crowdfinance capitalization strategy to leverage the benefits of a rewards campaign as a first capitalization step, building economic and brand value in the venture without sacrificing ownership interests, before adding new stakeholders with equity and debt. ProHatch calls this a new “capital ladder” that helps to take companies from ideation to exit. Deploying a reward campaign today gives entrepreneurs/startups/small businesses particularly consumer goods early market validation, good or bad with no loss of ownership. This is an ideal opportunity to build revenue, customers, credibility & brand, reducing risk in preparation of further traditional or crowdfinance equity & debt rounds. There have already been companies on other CFPs that have closed traditional rounds following a successful reward campaign. For example Ouya, a new open sourced gaming console powered by Android, funded a $8.6M rewards campaign with more than 60K preordered units. 9 months later, Kleiner Perkins led an additional $15M round which marked one of the largest institutional investments to go to a reward-based crowdfunding campaign to date. With other notable examples available, ProHatch believes donation & reward crowdfunding models will play just as important a role in strategic capital formation, and that belief has shaped our direction and the evolution of our platform. In offering every type of crowdfunding on ProHatch, we believe that companies will strategically choose the models that make sense for them.
- Reward-based crowdfunding and the newly introduced equity-based models can be combined in a very effective crowdfinance capitalization strategy to leverage the benefits of a rewards campaign as a first capitalization step, building economic and brand value in the venture without sacrificing ownership interests, before adding new stakeholders with equity and debt. ProHatch calls this a new “capital ladder” that helps to take companies from ideation to exit. Deploying a reward campaign today gives entrepreneurs/startups/small businesses particularly consumer goods early market validation, good or bad with no loss of ownership. This is an ideal opportunity to build revenue, customers, credibility & brand, reducing risk in preparation of further traditional or crowdfinance equity & debt rounds. There have already been companies on other CFPs that have closed traditional rounds following a successful reward campaign. For example Ouya, a new open sourced gaming console powered by Android, funded a $8.6M rewards campaign with more than 60K preordered units. 9 months later, Kleiner Perkins led an additional $15M round which marked one of the largest institutional investments to go to a reward-based crowdfunding campaign to date. With other notable examples available, ProHatch believes donation & reward crowdfunding models will play just as important a role in strategic capital formation, and that belief has shaped our direction and the evolution of our platform. In offering every type of crowdfunding on ProHatch, we believe that companies will strategically choose the models that make sense for them.