WHAT IS CROWD FUNDING? - Straight Up P2Pteamandy.blackbaud.com/wp-content/uploads/2015/03/... · WHAT IS CROWD FUNDING? Is crowd funding a new revenue stream or another term for fundraising?

Blackbaud Enterprise Customer Summit

WHAT IS CROWD FUNDING? Is crowd funding a new revenue stream or another term for fundraising?

Presented by: Amy Braiterman, Blackbaud Julia Gallagher, Memorial Sloan Kettering Cancer Center

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ARE YOU…

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The practice of funding a project or venture by raising many small amounts of money from a large number of people, typically via the Internet.

Per the Oxford Dictionaries

Syllabification: crowd·fund·ing Pronunciation: /ˈkroudˌfəәndiNG /

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Beginning of human civilization

Faith

1852

The Salvation Army

1938

March of

Dimes The Fed & States

1999 P2P Online Event Tools

2006

Crowd Funding coined

2008

Pres. Election

2009

Kickstarter Kicked off

2004

Facebook

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THE JOBS ACT

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50 SHADES OF CROWD FUNDING

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CROWD FUNDING (FUNDRAISING) IS HARD WORK

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It’s been the most work. I just finished signing 5,500 posters this week that are all going out to Kickstarter backers. -  Rob Thomas, Veronica Mars Creator & Director

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HOW DO YOU CHANGE THE CONVERSATIONS?

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ORGANIZATION CULTURE

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KNOW WHO YOU ARE

Program Expectations: •  Revenue potential •  Program costs •  Program and Constituent Support

Benefits •  Less affected by economic state •  Lower cost of fundraising •  Expanded reach for the organization •  Building stronger, more loyal

supporters

Make it Part of Your Culture • It starts at the top; executive buy in

• Staff buy in

Constituents: What is your comfort level?

Business Plan

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Online Experience

Guidelines: Internal & External Impact & Expectations

Fundraising & Organization Information

Great Customer Services

5 THINGS TO KEEP IN MIND

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Reporting & Analysis

ONLINE EXPERIENCE

Process Donations

Fundraising Tools

Registration Process

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EVERYONE’S TALKING ABOUT IT I applaud these young scientists

for doing their own crowd funding…

There are many reasons why basic research should remain in public

and non profit institutions. Is this in some ways another symptoms of just how broken our system is?

As much as I love this approach, the academic institution hosting the

research may retain more than half of the money raised for indirect costs.

Project cost $30k need to raise $150k

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Project Organization

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Why?

Audience Brand

ADAPTING TO THE “NEW WORLD”

Message

Purpose

Impact

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WE LIKE YOU AND WE LIKE WHAT YOU DO

•  Personal Customer Service • Organization Fact Sheet •  Approved Logos and Letters of Support •  “Ask” and Press Release Templates

•  Basics of Fundraising •  Basics of Hosting an Event •  Online Tools for invitations,

communication, and money collection •  Instructions for Online Tools •  Recognition & Thanks

YOUR FUNDRAISERS: • Care • Are Motivated • Volunteer and are asking and in need of guidance

Educate, Empower and Encourage

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MARKETING, MARKETING, MARKETING

•  Promote program in donor welcome series email campaign - encourage donors to get more involved.

•  Use it as an opportunity to

engage board members and major donors and to tap into their personal networks

•  Connect with lapsed donors

GET THE WORD OUT • Make it an option to support your organization. •  Consider picking a few key

dates to rally supporters • Feature successful fundraisers – both individuals & activities in: website, e-newsletters and printed materials.

• Show diversity in ways to get involved

•  Donation vs. Participation

Acquire & Recruit

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MEASURE PERFORMANCE

•  Number and Date of registered fundraisers or events

•  Number of participants •  Conversion & completion rate •  Number of repeat vs. new •  Number of donors

•  Overall fundraising revenue •  Fundraising amount per

participant •  Number of donations per

participant

HOW WILL YOU TRACK PERFORMANCE? WHAT DOES SUCCESS LOOK LIKE?

Measuring Success

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Are you…

Documents

WHAT IS CROWD FUNDING? - Straight Up P2Pteamandy.blackbaud.com/wp-content/uploads/2015/03/... · WHAT IS CROWD FUNDING? Is crowd funding a new revenue stream or another term for fundraising?