startsomegood crowdfunding workshop

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Crowdfunding for Good

Presented by

Tom’s StoryHi! I’m Tom.@tomjd

Co-founder/CEO StartSomeGood

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?

What Crowdfunding isn’t: New

What Crowdfunding isn’t: Automatic

What Crowdfunding isn’t 3: About crowds at all

What Crowdfunding isn’t: About crowds.

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?

What are you raising money for?

• Be:– Specific/Transparent– Inspiring– Realistic/Credible/Believable

• Bad ask

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

• Do Good Bus

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

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

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)

One where people are central to winning

Focus on finding people who already care

Theory of change

• 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

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

• 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

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

• 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

• 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?

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).

And remember to thank your supporters!

How Can We Help?www.StartSomeGood.com@[email protected]

Udemy: www.udemy.com/crowdfunding-for-changemakers/

startsomegood crowdfunding workshop

Small Business & Entrepreneurship