Crowdfundingworkshoptwintangibles 110629124458-phpapp01
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This document provides information about a crowdfunding workshop to be held on June 28th, 2011 in Glasgow. It discusses what crowdfunding is, different crowdfunding models including reward, equity and lending models, key steps in a crowdfunding campaign, tools like crowdfunding platforms, characteristics of successful campaigns, and examples of projects that have used crowdfunding. The workshop aims to help attendees understand how to utilize social media and crowdfunding to fund projects and organizations.
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Crowdfundingworkshoptwintangibles 110629124458-phpapp01
- 1. Contact us +44(0)7717714595 www.twintangibles.co.uk info@twintangibles.co.uk Crowdfunding Workshop 28/6/11 IA Centre, Skypark, Glasgow twintangibles 2011 social media at work consulting – strategy - research
- 2. What is Social Media?
- 4. Tribes
- 5. The Long Tail Products Popularity "We sold more books today that didn't sell at all yesterday than we sold today of all the books that did sell yesterday." Josh Peterson - Amazon
- 6. What is Crowdfunding? “The collective cooperation, attention and trust by people who network and pool their money and other resources together, usually via the internet to support efforts initiated by other people or organizations.”
- 7. 3 Crowdfunding Models • Reward based Crowdfunding • Equity based Crowdfunding • Microfinance Lending (P2P-lending)
- 8. 2 Further Flavours • All or nothing Meet your target or you receive nothing • Keep it all Retain any funding generated regardless of target
- 11. • Key characteristics o Microfinance – low barriers, larger tribe o Rewards – its not just equity o Targets – Defined goals o Time limited – Defined end point o Viral promotion – Incentive to spread the word o Project based – Rarely operating costs
- 12. Where is it used? • Charities • Creatives • VC’s • Entrepreneurs • Micro lending • Campaigning
- 13. Example 1
- 14. Example 2 • First time any company in Europe had attempted to raise money via an online share offering • Significant expense in setting up project • SE helped them with part of the costs • 10% Firms Equity • £230 per share • 1300 investors • 20% off in the shop! • No platform
- 15. Crowdfunding Tools • Crowdfunding platforms • ProjectFinder • Facebook Causes • Chip In • Six Degrees • Just Giving
- 16. Why use a Platform? • Turnkey solution • Meeting place for investors/donors • Inbuilt community • Reduce transaction cost • Social Media Integrated • Reduces legislative complexity
- 17. Characteristics • Sector specific: creative, entrepreneurial, community… • Country limitations • Traffic • Min./Max. total of contribution • Service and/or payment Fee • Rewards/Perks: set by platform/project holder • Time limit
- 18. Examples
- 19. Examples
- 20. Examples
- 21. Examples
- 22. Equity - based platforms
- 23. Project Example 1: Emmy’s Organics $15,000 Goal Average donation $150 11+1 Reward Categories
- 25. Project Example 3: TikToc LunaTik $15,000 Goal Average donation $70 6 Reward Categories
- 26. Some Numbers • Kickstarter – About 43% of initiatives are successfully funded. – In the two years since Kickstarter's launch, close to 592,000 people have helped to back more than 7,500 successful projects • Kiva – has collected $211 million for worldwide projects. – Nearly 550,000 entrepreneurs have received loans. – The repayment rate is 99%.
- 27. Components of a Good Campaign
- 28. Keys for Success • Be Social Media ready • Check how Social Media ready your audience is • Set an achievable target • Create a powerful pitch • Reward people • Spread the word • Say thank you • Be Human = Be Social
- 29. Keys to Success • Have a strategy – You need a plan • Select your project carefully – It must be realistic & achievable • Identify your target audience/s • Select your platform carefully • Develop your rewards – More is better, be creative • Create your pitch – Stories, passion & video • Select your channels – They vary • Develop a publishing plan – What resources can you draw on • Define the resource required – Who will do this, & when. A team? • Set a time frame – Even if the platform is open time give your self one • Engage – Listen, nurture, converse, respond • Give your funders privileged access to information • Promote – Don’t assume that people know • Keep updating • Honour your promises • Say thank you!
- 30. Intangibles • Organisational Capital • Human Capital • Relationship Capital