StartSomeGood Crowdfunding Workshop
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Transcript of StartSomeGood Crowdfunding Workshop
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Crowdfunding for Good
Presented by
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Tom’s StoryHi! I’m Tom.@tomjd
Co-founder/CEO StartSomeGood
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Agenda
1. Why use Crowdfunding?2. What are you raising funds for?3. Setting Goals4. Why do we give?5. Identifying your stories and your
communities6. Targeting those communities7. Offering rewards that work
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Section 1:What is (and isn’t)
crowdfunding and why would you crowdfund?
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What Crowdfunding isn’t: New
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What Crowdfunding isn’t: Automatic
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What Crowdfunding isn’t 3: About crowds at all
What Crowdfunding isn’t: About crowds.
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Why crowdfund then?
• What is new: more engaging and game-like
• Transparency around goals and outcomes
• Advice and other forms of support• Great for events/product
launches/MVPs – raise the cost of a first product run up-front
• Market validation• High success rate• You can start now
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Section 2:What are you raising for and
how much can you raise?
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What are you raising money for?
• Be:– Specific/Transparent– Inspiring– Realistic/Credible/Believable
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• Bad ask
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Setting Goals
Factors:•How much do you want and how much do you need?•How much risk are you comfortable with?•Tipping point vs your Ultimate Goal
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• Do Good Bus
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A simple (but complex) formula:
Reach x Propensity x CapacityExisting communityRelationshipsSocial media reach PartnershipsPR hooks newsworthinessHARD WORK
Your storyTold to the right people (targeting)Presentation (video, pictures)RewardsHow much do people care?
TargetingNeedValueRewards
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Timing
Longer is not usually better!
30-40 days maximum to maintain momentum
Be realistic. What is you/your team’s capacity?
Make sure you’re ready to launch with early donors ready to go.
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Section 3:Fundraising
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Why do we part with our money?
• An expectation of future financial return (investing)
• A good or service we want (shopping)
• A future we hope to see (philanthropy)
• A friend or community we want to support (relationships)
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Why do we part with our money?
• An expectation of future financial return (investing)
• A good or service we want (shopping)
• A future we hope to see (philanthropy)
• A friend or community we want to support (relationships)
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One where people are central to winning
Focus on finding people who already care
Theory of change
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• Why this (issue/story)? – why should supporters care about your project?
• Why you? – what’s your story? What makes you credible to make this project happen?
• Why now? – what’s unique or important about this moment?
• What’s in it for them? – how will a supporter benefit from being a part of this project? Good feelings, connectedness, rewards, social change?
What’s your story?
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Section 4:Outreach
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Have a marketing plan!
• Crucial:–Line up your initial donors – early momentum is critical–Use different channels–Examine similar campaigns–Be ready to work hard!–Be real
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• Who are they?
• Where are they?
• What do they care about?
• Why will they support you?
• Why won’t they?
• How do you reach them?
Reaching the Tribe
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Before: line up your first supporters. Have people ready to pledge on minute 1, day 1. Talk about your upcoming campaign publically, share the process. Cultivate champions.
Launch: Activate your day 1 supporters by phone, text, email.
Day 3-7: Email blast to everyone you know. Share extensively on social media. PR.
Week 2 onwards: Outreach to influencers: media, bloggers, celebrities, organisations. Connect with local media (use our template). Target relevant influencers, not just Oprah. Hold events.
7-4 days to go: Email blast to everyone you know.Write to your existing supporters. Go all out on social media.
4-0 days to go: push to the end!
A rough sequence
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Section 5:Rewards, Lessons
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• One where people are central to winning the campaign
• Mobilise the community as a movement and your campaign as an amplifier.
Empower anyone, anywhere with a great idea to create new futures for their communities.
Rewards
• Public Acknowledgement• Access to Events• Swag / merchandise• Souvenirs / Crafts• Art / Photography• Items Funded by the Campaign Itself• Unique, Experiential Rewards• Access to the Team, Services,
Mentoring
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• One where people are central to winning the campaign
• Mobilise the community as a movement and your campaign as an amplifier.
Empower anyone, anywhere with a great idea to create new futures for their communities.
Rewards
Connect your rewards to yourStory/ies.
Think creatively: What are your assets/resources?
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Rewards - Things to consider:
• Be comfortable spending funds on rewards (you can budget for this in your tipping point)
• Make your rewards relevant• Find rewards which do double-duty• Create “money can’t buy” experiences• Have a decent number of levels (min.
3)• Be clear on if the reward is a product• If it is a product, make sure it’s good
value
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Vote Yes Film Rewards:
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The formula3 motivations: personal, societal, relational
5 stories: Issue, Geography, Team, Approach/Innovation, Community/Identity
3 Dimensions: Why you, why this, why now.
+ Hard Work! (and a realistic goal).
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And remember to thank your supporters!
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How Can We Help?www.StartSomeGood.com@[email protected]
Udemy: www.udemy.com/crowdfunding-for-changemakers/