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Maximise your IA developing funding streams through

Social Media:CROWDFUNDING

In collaboration with the Intellectual Assets Centre

CROWDSOURCINGCROWDSOURCING• “Crowdsourcing is the act of outsourcing tasks,

traditionally performed by an employee or contractor, to an undefined, large group of people or community (a "crowd"), through an open call.” [Wikipedia]

• Resources exist outside organisations boundaries

• Historically very difficult to execute

• Some examples would includeo Wikipediao Linuxo Huffington Posto Innocentiveo DigitalKoot

SOCIAL MEDIASOCIAL MEDIA

• Many to many, two way communication

• Endorses the idea that we all contribute

• It has the power to aggregateo Groundswello Virtual groups of like minded individuals

• Democratising - lower barriers to engagement• Highly scalable• Relatively cheap

CROWDFUNDINGCROWDFUNDING

“Crowd funding describes the collective

cooperation, attention and trust by people who network and pool their money and other resources together to support efforts initiated by other people or organizations.” [Wikipedia]

CROWDFUNDING CROWDFUNDING

Some Crowdfunding Platforms

• Fundrazr – Individual, not for profit or political

• Wedidthis – Arts finance

• Catwalk genius – Fashion and design

• Startsomegood – Social Enterprises

• Takeashine - College/University course funding

• IndiGoGo – Pretty much anything – no equity

• Peerbackers – Enterpreneurial (US)

• Crowdcube – Entrepreneurial ( UK)

• ProjectFinder - searches several Crowdfunding sites

KEY CHARACTERISTICSKEY CHARACTERISTICS• 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

WeDidThisWeDidThis

WeDidThisWeDidThis

CrowdcubeCrowdcube

The Process - PurchaserThe Process - Purchaser

Select Project

Target Met

Collect Reward

Purchase your

Reward

PromoteThe

Project

The Process - SellerThe Process - Seller

Decide on Project

and Target

Target, Launch,Promote

Collect Funds

Decide Rewards

and Duration

Choose Platform

and SM tools

Crowdfunding ExamplesCrowdfunding ExamplesIronBratz

• Gallery expansion in Glasgow

Myfootballclub • Community purchase of Ebbsfleet United

Blender Foundation • 3D animation software. €100,000 to switch to

an open source model.

I Am Verity • $80,000 to release an album

Trampoline • world’s first technology business to raise

finance through equity crowdfunding. Aim to raise a total of £1 million spread over four rounds.

• 10% Firms Equity• £230 per share• 1300 investors• 20% off in the shop!

IA and SM: the perfect matchIA and SM: the perfect match

Brewdog example: demonstration of how Intangibles (Relational /

Human / Organisational capital) can be

• CREATED

• ENHANCED

• EXPLOITED through the use of Social Media

CREATION OF IA CREATION OF IA through Social Mediathrough Social Media

• RELATIONAL CAPITAL: - Relationships with stakeholders (customers/

suppliers/partners); - Community building;

• STRUCTURAL CAPITAL:- External Facing factors-based IA: awareness of

organisation’s CSR, accreditations, image-enhancing users

- Brand Awareness (consistency is key)

CREATION OF IA CREATION OF IA through Social Media (2)through Social Media (2)

- Business networks (i.e. via LinkedIn)- Collection of a vast range of current business

information (market, financial)

• HUMAN CAPITAL : - Knowledge assets (through mutual knowledge

sharing)- Easier way to find the right personnel for your

organisation

ENHANCEMENT OF IA ENHANCEMENT OF IA through Social Mediathrough Social Media

• Relational Capital- Immediacy + intimacy of Social Media channels =

improved interactions and relationships with stakeholders;

- Raise in customer/community loyalty; - more empathy and engagement

• Structural Capital- Improvement of Brand awareness/recognition/loyalty- Widespread diffusion of your organisation's values,

message and REPUTATION

ENHANCEMENT OF IA ENHANCEMENT OF IA through Social Mediathrough Social Media

- Development of business networks- Improvement of Knowledge in the sector

(market, competitors, clients needs)

• Human Capital:- Knowledge classification and management

enhanced;- Skills, know-how and expertise improved

through mutual knowledge sharing

EXPLOITATION OF IA EXPLOITATION OF IA through Social Mediathrough Social Media

• Relational capital: - return on engagement --> repeat business;- constructive feedback from clients (crowdsourcing

content --> new products/services development) 

• Structural capital: • Brand image (clients will involuntarily and

unconsciously vouch for it --> GENUINE peer-to-peer word of mouth - conversational marketing)

• Market expansion and entry in new markets

EXPLOITATION OF IA EXPLOITATION OF IA through Social Mediathrough Social Media

• Innovation potentialities (crowdsourcing)• Business development opportunities

(crowdsourcing)

• Human Capital :- Commercialization opportunities for know-how,

expertise, knowledge

Social Networks as IA toolsSocial Networks as IA toolsCreate the buzz; Marketing tool; Improve SEO

Better searcheability and visibility of your organisation

Twitter-- Brand-awareness building tool-- Traditional marketing tool - Listening tool:to know more about market/clients/competitor

LinkedIn- Restricted community building (more professional)- Business Networks - Knowledge creation

Facebook-- Community building -- Brand awareness-- Conversational/traditional marketing tool (ads) - Knowledge creation

Thank You!Thank You!

This presentation has been developed in collaboration with the IA Centre

www.twintangibles.co.ukinfo@twintangibles.co.uk

@twintangibles