Crowdfunding and Social Fundraising, Does it Really Work?
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During this time of fiscal uncertainty, crowdfunding and crowd/social fundraising are fast becoming an attractive option for nonprofits to raise much needed funds. During this session presented at the NeighborWorks America Social Technology Symposium, we discussed crowdfunding, online contests, and social fundraising, with case studies from the field. Presenters included: Farra Trompeter, Big Duck; Brandon Whitney, IOBY; and Matt Miller, Community Housing Initiatives.
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Crowdfunding and Social Fundraising, Does it Really Work?
- 1. bigducknyc.com Crowdfunding and Social Fundraising, Does It Really Work? Farra Trompeter, Big Duck Matt Miller, Community Housing Initiatives Brandon Whitney, ioby NeighborWorks America May 8, 2013
- 2. bigducknyc.com #SocialTechNTI @farra | @bigduck @bcwhitney | @ioby @mmiller041 | @CHI_inc
- 3. bigducknyc.com What we’ll cover • The differences between crowd funding, online voting campaigns, and social fundraising • Case studies • Tips and takeaways
- 4. bigducknyc.com http://www.mdgadvertising.com/blog/2012-it-was-a-very-good-year-for-social-giving/
- 5. bigducknyc.com http://www.mdgadvertising.com/blog/2012-it-was-a-very-good-year-for-social-giving/
- 6. bigducknyc.com http://www.mdgadvertising.com/blog/2012-it-was-a-very-good-year-for-social-giving/
- 7. bigducknyc.com Social fundraising… • Turns your supporters into fundraisers • Harnesses the power of social media • Isn’t all that different than raising money door to door for a charity walk or run
- 9. bigducknyc.com Online campaign contests… • Often sponsored by companies for brand awareness • Relies heavily on social media promotion • Requires organization to get their supporters to tap personal networks • Could burn out your list if overdone
- 11. bigducknyc.com Crowd funding… • Recruits supporters for a specific project • May award “perks” at different giving levels • Leverages the power of group giving/being part of something bigger • Can be ‘all or nothing’
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- 29. Starbucks Vote.Give.Grow. Online Campaign Contest April 2012 www.chihousing.com
- 32. !"#$%&"' ($#)*+) ,--./0*123-*(3435( 2 9 16APR 4 123-(* /-63 !"#$%"%&'()#*'&+ 23 !"#$%&%'$$()%$*$+,%'$$()%-.+/"0%12+/3)%,4.%#&"%*45$%64+%,4.+% 72(328 ,-"#.'%&'.)/# !"9$):*;" ,"*<=)*'"9$):*>?@%'7$"%&%"$' /+63 1?&"*8?A 1 ;?'"*$)B? 20% 89::;<= :1<>?<@A 0?@&C*7@$D:*E*7?%&?) 1?&"*8?A 1 ;?'"*$)B? 35% 89::;<= :1<>?<@A 2FF?'&@)$&>*6$)=)<"*8"&A?'G 1?&"*8?A 1 ;?'"*$)B? 25% 89::;<= :1<>?<@A H?)?'%IC??%"J?'#*E*7?%&?) 1?&"*8?A 1 ;?'"*$)B? 20% 89::;<= :1<>?<@A !"#$%"%&'()#*'&+%% www.chihousing.com
- 33. Steps to Run an Online Campaign Contest www.chihousing.com
- 34. 1. DetermineYour Target Audience www.chihousing.com
- 35. 2. Establish a Specific Social Media Goal www.chihousing.com
- 36. 3. Know The Rules www.chihousing.com
- 37. 4. Pick a Prize www.chihousing.com
- 38. 5. ChooseYour Social Tools Appropriately www.chihousing.com
- 39. 6. Launch & Promote www.chihousing.com
- 44. 8. Summary of Campaign www.chihousing.com
- 46. ioby = the opposite of NIMBY
- 54. $35
- 57. your project another project another project another project another project another project another project Why a crowd?
- 58. Soundview Park Bikesplorations — $3,540 Bikesplorations: Teens Taking the Lane — $5,533
- 59. Pollos del Pueblo — $6,286
- 60. Sample Multichannel Plan Week 1 Week 6 Before getting started: • Build fundraising team • Identify base • Write outreach text, including all emails • Plan offline and online outreach • Create FB, Twitter and video channels • Know your story! 1st email 2nd email 3rd email 4th email Send thank you notes! Twitter & Facebook Host house party Volunteer day Launch a video
- 62. bigducknyc.com Steps for social fundraising 1. Research to find the right platform (fees, tone, ease of use, donor data) 2. Recruit and motivate your supporters 3. Gather photos and videos to tell stories 4. Use deadline or goal to create urgency 5. Message and report back to the entire community 6. Thank donors and try convert them
- 63. bigducknyc.com Steps for online contests 1. Ask: “Should my org enter?” 2. Determine your target audience 3. Establish a specific social media goal 4. Know the rules and pick a prize 5. Choose your social tools appropriately 6. Launch and promote 7. Analyze and engage 8. Report back on summary of campaign
- 64. bigducknyc.com Steps for crowd funding 1. Decide how this technique fits into your overall fundraising strategy 2. Choose the ultimate goal of your campaign 3. Pick your platform carefully 4. Know which supporters you will target (and why) 5. Build a campaign schedule or calendar 6. Try a multichannel campaign
- 65. bigducknyc.com Make your campaign a success • Start with a plan and calendar • Incentivize your fundraisers/voters/ donors • Give fundraisers and donors shout-outs on your social media properties • Consider a prize for the person who raises the most (dollars, donors, votes) • Experiment
- 68. bigducknyc.com