CROWDFUNDING STAKEHOLDER TOOLKIT - Hubbubfiles.hubbub.net/crowdfunding_stakeholder_toolkit.pdf ·...
Transcript of CROWDFUNDING STAKEHOLDER TOOLKIT - Hubbubfiles.hubbub.net/crowdfunding_stakeholder_toolkit.pdf ·...
CROWDFUNDING STAKEHOLDER TOOLKIT
BUILDING YOUR COMMUNITY
IN THIS GUIDE YOU WILL LEARN:
● WHY you need crowdfunding stakeholders.
● WHO the key stakeholders are.
● HOW to get these stakeholders involved.
● WHAT incentivizes stakeholders.
To run a successful crowdfunding platform, it's vital to gain
the support of key stakeholders within your institution.
If stakeholders feel involved and invested from the get-go, it's
easier to ensure that your platform will be filled with
successful projects from its launch week.
CROWDFUNDINGSTAKEHOLDERS
WHY DO YOU NEED STAKEHOLDERS?
Why do you need crowdfunding stakeholders?
To run a successful crowdfunding program, you
will need the support of various stakeholders
across the university to: ● help you acquire crowdfunding projects
● mentor/champion/moderate projects
● share projects across communication channels
● support and donate to projects
● champion the crowdfunding website
● help you find project match funders
KEY AREAS FOR STAKEHOLDERS’ INVOLVEMENT
● Who do you think most projects will
come from?
● Who will help you to find students and
staff who will want to crowdfund
projects? Student Union leaders?
Department heads? Clubs and
societies?
● Will your crowdfunding program be
open to alumni?
FINDING
PROJECTS
● How can your platform and projects
be publicized to the wider
community?
● Who in your institution has links to
university, local and national press?
● Can you make use of your careers /
marketing / alumni relations teams?
● Who is most connected to the wider
community?
PROMOTING YOUR
PLATFORM
● Who can make sure that the platform
succeeds?
● Who will mentor / champion projects
and ensure that they have a high
completion rate?
● If you could set up the ideal
crowdfunding work group / steering
group, who would you have in it?
ENSURING
SUCCESS
POTENTIAL STAKEHOLDERS
FRAMEWORK
GROUPS
Identify relevant groups within your university.
e.g. Student Union, Heads of Departments, Marketing Team.
POTENTIAL STAKEHOLDERS
Identify stakeholder candidates within these groups.
e.g. Student Union President.
CROWDFUNDING ROLE
Identify how can they help with your crowdfunding program.
e.g. Advocate use of the platform, bring projects on board, distribute
regular comms.
STAKEHOLDER INCENTIVES
Identify why these stakeholders might want to be involved.
e.g. Help students fund and realise more activities.
POTENTIALSTAKEHOLDERS
FRAMEWORK
Every university is organised differently. With that in
mind, the following framework will help you to identify
potential crowdfunding stakeholders within your
university.
POTENTIAL STAKEHOLDERS - TEMPLATE
GROUPS POTENTIAL STAKEHOLDERS
Stakeholder candidates within these
groups.
CROWDFUNDING ROLE
How can they help with your crowdfunding
program?
STAKEHOLDER INCENTIVES
Why might these stakeholders want to be involved?
IDENTIFY POTENTIAL STAKEHOLDERS
Great Ideas
Great Ideas
Great Ideas
Great Ideas
Great Ideas
Great Ideas
Great Ideas
Great Ideas
Great Ideas
Great Ideas
Great Ideas
GREATIDEAS
University
Management
POTENTIAL
STAKEHOLDERS
Student
Union
Academic
Departments
Finance
Department
Legal
Team
Comms &
MarketingData
Team
Alumni
POTENTIAL STAKEHOLDERS - EXAMPLES
GROUPS POTENTIAL STAKEHOLDERS
Stakeholder candidates within these
groups.
CROWDFUNDING ROLE
How can they help with your crowdfunding
program?
STAKEHOLDER INCENTIVES
Why might these stakeholders want to be involved?
University
Management
For example,
● Vice Chancellor
● Senior management
● Academic and Support
Staff
For example,
● Support from the top sends a
powerful message and helps to
embed the program within the
university
For example,
● They recognize the many benefits
that a crowdfunding program could
bring to the university
● The crowdfunding program could
align with the university's mission
and goals
Our Vice-Chancellor, Anthony Forster, has been incredibly enthusiastic and supportive of Click from
the very beginning. Not only did he attend the launch event, but he also donated to every launch
project personally, and posted encouraging messages and retweets during their campaigns. His
tweets generated some of the highest clickthrough numbers across the platform, and his support
was invaluable in embedding the concept across the University.
James Martin,
Alumni Relations Officer, University of Essex
click.hubbub.net
GROUPS POTENTIAL STAKEHOLDERS
Stakeholder candidates within these
groups.
CROWDFUNDING ROLE
How can they help with your crowdfunding
program?
STAKEHOLDER INCENTIVES
Why might these stakeholders want to be involved?
Finance Department For example,
● Director of Finance
For example,
● Approval of payment gateways
● Signing off financial processes
For example,
● To oversee income streams
Legal team For example,
● Head of Legal
For example,
● Approving terms and conditions
For example,
● To ensure the program adheres to
university regulations
Data team For example,
● Database Manager
For example,
● Data processing
For example,
● To ensure data is processed in line
with data protection regulations
POTENTIAL STAKEHOLDERS - EXAMPLES
GROUPS POTENTIAL STAKEHOLDERS
Stakeholder candidates within these
groups.
CROWDFUNDING ROLE
How can they help with your crowdfunding
program?
STAKEHOLDER INCENTIVES
Why might these stakeholders want to be involved?
Student Union For example,
● President
● Marketing/Comms leader
● Activities/Sports leader
● Engagement team
● Raise and Give (RAG)
team
● Society representatives
For example,
● Finding projects
● Distributing communications
● Recruiting crowdfunding
ambassadors
For example,
● Connect students and societies to an
additional source of funding
● Make more activities possible
● Empower students through
entrepreneurial skills development
● Showcase student initiatives
POTENTIAL STAKEHOLDERS - EXAMPLES
GROUPS POTENTIAL STAKEHOLDERS
Stakeholder candidates within these
groups.
CROWDFUNDING ROLE
How can they help with your crowdfunding
program?
STAKEHOLDER INCENTIVES
Why might these stakeholders want to be involved?
Academic
Departments
For example:
● Head of Arts and
Humanities
● Head of Sciences
● Head of Technology
For example:
● Finding projects
● Finding project mentors
● Finding crowdfunding ambassadors
For example:
● Help students fund end of year
shows
● Showcase student achievements to
the wider community
POTENTIAL STAKEHOLDERS - EXAMPLES
GROUPS POTENTIAL STAKEHOLDERS
Stakeholder candidates within these
groups.
CROWDFUNDING ROLE
How can they help with your crowdfunding
program?
STAKEHOLDER INCENTIVES
Why might these stakeholders want to be involved?
Marketing For example:
● Head of External
Relations
For example:
● Advise on marketing strategy for the
crowdfunding program
● Distribute regular crowdfunding
communications.
● Include a section on crowdfunding
on the university website.
For example:
● Crowdfunding projects make
heartwarming positive stories and a
great source of content to share on
marketing channels
POTENTIAL STAKEHOLDERS - EXAMPLES
HOW CAN YOU GET STAKEHOLDERS INVOLVED?
● Discuss the crowdfunding program and keep stakeholders
updated
● Educate stakeholders about crowdfunding strategies
● Ensure that everyone is clear about their goals and actions
THE STAKEHOLDER WORKGROUP MEETINGS ARE AN OPPORTUNITY TO:
Initially, it can be a lot of work to get people involved in the program. We tend to find that face-to-face communication is very effective at
this stage. You may find it helpful to set up a working group of stakeholders who get together every month or two.
CROWDFUNDING WORKGROUP
● Gather feedback from various areas of your institution
● Spot opportunities for improving your strategy
● Celebrate success
Dear {insert stakeholder name}
The University of {name} will soon offer a unique opportunity for our
students and staff to raise funds for their projects through our dedicated
{insert platform / university name} crowdfunding platform. Crowdfunding
is a popular method of fundraising that offers an engaging and fun
experience for donors; it is proven to encourage strong community
involvement that goes beyond the traditional channels. It is already
raising millions across the education sector.
We are in the process of developing the platform with hubbub.net, and we
are bringing together a select group of individuals within the university to
take part in the setup. We would love you to be involved in the next steps.
{insert reason why eg. Your students especially are already very active in
fundraising}.
STAKEHOLDER INVITATION - EMAIL TEMPLATE
What is crowdfunding exactly?
Simply put, crowdfunding is an online funding mechanism that involves a
broad pool of donors each contributing a small amount to a project or
idea. An example of a university platform is yustart.hubbub.net.
Join us!
We are organising a meeting of a select group of people from across the
university to look at our crowdfunding strategy and help select launch
projects.
Can you join us on {meeting time, date} for a crowdfunding kickoff
meeting to give your input?
Looking forward to hearing from you.
Kind regards, {insert name}
● Introduction to crowdfunding
What is crowdfunding? Where do projects come from? Who
moderates projects? Who donates to projects? Who owns the
data? What skills are developed?
● Brainstorm benefits for stakeholders
Crowdfunding programs bring many benefits across the
institution. How can crowdfunding benefit various
stakeholders and their communities?
● Vision for the crowdfunding program
● What are your crowdfunding goals?
E.g. 28 projects/year, 80% success rate, engaged alumni, skills
development
FIRST WORKGROUP MEETING
● Strategy for onboarding projects
If your goal is 28 projects/year, can seven stakeholders
commit to onboarding one project/quarter?
● Launch actions
Finding projects, supporting launch projects, completing a
marketing calendar, writing a press release, involving the Vice
Chancellor, developing a promotion strategy
● Communications plan
How often will you meet? How will you distribute
communications - minutes, updates, success stories? Who will
create and action the marketing calendar?
Dear {stakeholder name},
Do you know any students who need to raise funds for their projects
(degree-related or personal)?
At {insert university name} we provide free crowdfunding for everyone on
{insert}.hubbub.net. The Development Office offers fundraising support
for students who embark on this journey - we will actively help them to
create compelling campaigns and strategies for reaching their
fundraising targets.
{Optional: Additionally, we now offer matchfunding, and match every
donation up to {insert amount}.
CALL FOR PROJECTS - EMAIL TEMPLATE
I'd really appreciate it if you would let your students know about this
opportunity. We'd love to help them raise funds and make their ideas a
reality.
You can take a look at our crowdfunding platform on https://{insert}.
hubbub.net. Please get in touch if you have any questions.
Kind regards,
{insert name}
STAKEHOLDER RESOURCES
What to include in your stakeholder pack:
● What is reward based crowdfunding?
● Benefits of crowdfunding
● The vision for your crowdfunding program
● Matchfunding (if relevant)
● An endorsement from your Vice Chancellor
● The types of projects you support
● Examples of successful campaigns - see Hubbub clients to find
relevant examples.
● Links to Hubbub resources - the crowdfunding handbook, the
rewards guide and the promotion guide.
● Any branded images, templates and materials you are using for
your crowdfunding communications.
We recommend creating a stakeholder pack to help
stakeholders who are looking to communicate your
crowdfunding message.
This will give them the confidence that they are on message
and allow them to focus on acquiring projects, promoting the
program and distributing communications.
STAKEHOLDERRESOURCES
THANK YOU
We hope you find this toolkit helpful and wish
you the best on your crowdfunding journey. If
you have any questions, please get in touch.
Best wishes,
The Hubbub Customer Success Team
CONTACT US