CROWDFUNDING YOUR PROJECT

CROWDFUNDINGYOUR PROJECTDANIELLE BARRIOS-ONEILLUNIVERSITY OF ULSTER / SUPERBLUE

WHAT IS CROWDFUNDING?Crowdfunding:

Uses online platforms to help you get funding for a well thought-out projectRelies on multiple small funders, with donation size ranging from 1 to thousands of pounds.Might offer rewards for various levels of donation.Is similar in some ways to traditional funding that offer rewards by donation (eg. sponsor a seat)

SHOULD YOU CROWDFUND YOUR PROJECT?Will you struggle to get traditional kinds of funding from other funding bodies?Is your idea something that can be achieved on a modest budget (less than 10k)?Do you have the time to run a campaign? Think half-time job for the length of the campaign, or quarter-time if you split it with someone else.Is there a strong/large community or network you can tap into?Is it a project that will have legacy?

Reforest Nation - Indiegogo

CROWDFUNDING PLATFORMS

Note: These are four leading platforms; others exist. Fees are estimates. Check individual guidance on websites for exact fee structures.

1. PROJECT TITLEConciseCatchyDescriptive

Samples of Successfully Funded Kickstarter Projects

2. PROJECT SUMMARYWho is involved? What is their experience in the area?Why cant you go other routes for funding?Whats new and different about this project?Is there a unique story? Tell it!What will funders get?Whats the legacy?Include images.

example of a strong project summary

3. BUDGETHave it clearly defined for yourself. Have a version for the campaign page, which might be less itemised but clear and simple.Can the project happen if you dont hit your target?Do you have partial funding from any other sources?Factor in platform fees.Factor in the cost of donor rewards.

Lackan Cottage Farm - Crowdfunder

4. CAMPAIGN VIDEOWhats the concept?Whos in it?Props? Location? Will you need permission?Give yourself at least a half-day to film a 2- to 3-minute video.Consider scripting, but bullet-pointing is a minimum.Be dynamic: not just one person talking the whole time.Showing is good (not all telling).Kids, puppies and food.

Collings Park Community Garden - Crowdfunder

5. TIMEFRAMESWhat dates will the project run? How long will it be?Whats your time frame for delivering rewards?

6. REWARDSCan you offer rewards related to the project? Eg. tickets to an event, copies of a book, tours, membership?Consider production costs for rewards and postage.The best rewards relate directly to the project, have little associated cost, and contribute or support legacy of the project.

examples of great rewardsA letter of thanks and an invite to our Spring BBQ launch party.A THANK YOU for believing in the project. Your name will appear on the project website.A GUIDED WALK around the project grounds, tour provided by the project team.A project t-shirt, book, hat, mug, I donated badge. A TREE planted in your name.A VOUCHER for a local business.Two members of the team will work in your garden for an hour.Dedicate a SHED on the grounds to a loved one.A handmade OBJECT like a carved spoon or animal.A WEEKEND STAY on the grounds, including room and board.A place on a COURSE or WORKSHOP on the grounds.

6. YOUR NETWORKWhat existing communities/networks associated with the projects aims can you tap into? Local is good!Who do you know who has a strong voice in the area? Enlist their help!Ask influencers to spread the word.Use social media, especially Facebook and Twitter.Get support from friends and colleagues by hosting a lunch or tea break devoted to talking about the project.Draft an email with a link and ask people to forward it.

7. PRESSDraft (or have someone draft) a press release around the project launch.List all the magazines, newspapers, websites and blogs with audiences for whom this project would be relevant (ie. people who would be interested in funding it)Consider business, environment, lifestyle and features angles to appeal to a variety of journalists.Reach out to journalists and bloggers on Twitter! Look for those with large followings.Consider local, national and international press.

8. LAUNCHYour launch should grab attention in some way. Can you hold an event?Use social media and press to promote your launch.Have an influencer help your launch by eg. taking over your social media account for the day, giving an interview you put on your website, etc.

10. CAMPAIGN MANAGEMENTWho is responsible for campaign communication, internal and external?Set up a weekly meeting to connect with the team and discuss progress.Monitor your progress carefully using analytics tools on your platform and project website.Have clearly defined roles and stick to them!

11. PROJECT DELIVERYMake sure you have set out a realistic time frame for delivering rewards to donors.Keep in touch with your backers on a fairly regular basis (eg. monthly at a minimum). Send out emails, post on social media and/or update the website to describe progress.Treat people like teammates and VIPs conversation, not funding report.

MARKETING: FACEBOOKBuild it up before the campaign launches.Send people to the project page.Ask friends and acquaintances to share it forward.Do a paid advertisement to reach a larger audience.Create a Facebook EVENT and invite people to it. (Not everyone sees posts.)Follow, Like & converse with related groups on Facebook.Post progress updates and make appeals to drive donations.Ask influencers (individually) to share.

MARKETING: TWITTERSend people to the project page.Ask followers to share it forward.Do a paid advertisement to reach a larger audience.Do targeted follows of people following related projects/organizations.Create a Twitter account and invite people to follow it for updates.Follow, Like & converse with related accounts on Twitter.Post progress updates and make appeals to drive donations.Ask influencers to spread the word.

MARKETING: PROJECT BLOG/WEBSITEPost regular updates!Have clear links to the project page on the crowdfunding platformHave a way for people to donate via your website if possible (eg. Paypal)Post images!Use an easy-to-remember URL so people can pass it along easily.

MARKETING: WORD OF MOUTHRing up friends and acquaintances who are connected in the area, and ask them to share the project info forward.Host a party, lunch or tea break for people to spread the word.Go to events where interested people are likely to be and start conversations.

COMMON MISTAKESExpecting if you put a video and description up, the rest will take care of itself. Expecting to raise millions. Asking for money too soon.Choosing the wrong project. For crowdfunding to work, projects should be thought-out, formalised, interesting to others, and sustainable.

TIPS FOR SUCCESSStart 3 months before you start. Build hype before you start asking for money.Know who your audience is going to be and have already contacted journalists and have them on board. Have a dedicated Facebook event, project blog and Twitter account created and have an audience before the campaign starts.Plan to raise 1/3 of your funds in the first few days, from family, friends, and people you know will give.Make the donor gifts REALLY GOOD. For many people its not about philanthropy, its about getting value.Update your campaign page once a week with progress, and you can change/add rewards to spice things up.

RESOURCESIll publish this slide deck and link to it from my website, http://barriosoneill.com Another great resource is the toolkit published by Oonagh Murphy at http://www.artsandbusinessni.org.uk/eventstraining/ Every crowdfunding platform has its own guidance, designed to be user-friendly.

designingYOUR crowdfundingcampaign

GOALWhat would you like to create? Something specific.

GOALWhat would you like to create? Something specific.

GOALThink about your goal.

What makes it innovative?How can it be made sustainable?

AUDIENCE / FUNDERSWho is going to be interested?

Who has something to gain directly from the project itself?Who will likely find it interesting even if they wont gain directly?

REWARDSHow can you offer value, from modest donors to large donors? Brainstorm.