Crowdfunding Workshop - focus on reward model
35
Consultin g CROWDFUNDING YOUR PROJECT Is it all it’s cracke d up to be? YES Montreal Entrepreneurs Corner Montreal November 26, 2013 #crowfundingM tl
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Tips and best practices on pre-campaign work for reward crowdfunding.
Transcript of Crowdfunding Workshop - focus on reward model
Consulting
CROWDFUNDING YOURPROJECT
Is it all
it’s
cracked
up to
be?
YES Montreal Entrepreneurs Corner Montreal November 26, 2013
#crowfundingMtl
Consulting
SPEAKER
Founder of DFY Consulting Co-founder of Invest Crowdfund QuebecSocial Presence consultant and StoryboarderCrowdfunding coachOver 15 years experience in IT change management and service design First venture in 1998 for online retailers Blogger for Invest Crowdfund Quebec and DFYGuest blogger for Huffington and NCPA Speaker at marketing and corporate eventsActive member in Montreal’s start-up community.
Diana Yazidjian
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”As startups are the stars of the show, their ability to succeed depends on the health of the ecosystem and its ability to support, connect, network and finance them." Mark Evans, Canadian entrepreneur
Crowdfunding Types and Growth
Pre-Campaign Work
How The Crowd Works
Platform Overview
Business Case
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The raising of money by an individual, company or other organization through relatively small contributions from a large number of people, usually via the internet, to fund commercial, charitable, artistic and other projects, endeavours and entities.
CROWDFUNDING defined
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Types of CROWDFUNDING
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Active CROWDFUNDING platforms
WW and $
Source: Massolution 2012, NCFACANADA.org/
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Canada
Active CROWDFUNDING platforms
Source: Massolution 2012, NCFACANADA.org/
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“If You Build, They Will Not Come”
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PLAN
PRE-CAMPAIGN WORK
PLAN PLAN
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YOUR VALUE PROPOSAL
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A: BENCHMARK, SEE WHAT’S ALREADY OUT THERE ON THE MARKET/CROWDFUNDING SITES
“DOES MY IDEA/PRODUCT/SERVICE FULFILL A NEED?”
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“DOES MY IDEA/PRODUCT/SERVICE FULFILL A NEED?”
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BUDGETING
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WHAT DO I WANT TO ACHIEVE with the FUNDS HOW MUCH WILL MY PERKS COST?WHEN DO I PULL THE PLUG?
“HOW MUCH SHOULD I RAISE?”ASK YOURSELF…
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FULFILLMENT
The hardest hurdle
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FULFILLMENT
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DO I HAVE THE CAPACITY TO PRODUCE ADDITIONAL PERKS?
“I’VE MET MY FUNDING GOAL, SHOULD I ACCEPT ADDITIONAL FUNDING FROM OTHER BACKERS?”ASK YOURSELF…
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THE CROWD’S TASTEBUDS ARE CHANGING!
A WORD ON PERKS
70% of successful campaigns = 5-8 perks ($$$)
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TARGETING
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A: THE 30% RULE
“WHERE DO I BEGIN RAISING?”
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A: DO YOUR RESEARCH
“HOW WILL I RAISE THE REMAINING 70%?”
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DA TEAM
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ENGAGE THEMVALUE THEMWALK THEM THROUGH CF
IN RETURN:THEY’LL SUPPORT YOUTHEY’LL SHARE AND ENGAGE WITH THE CROWD
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MAKE SURE THESE ROLES ARE COVERED:
•Content Creation•Marketing & PR•Social Strategy•Customer Service
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SOCIAL STRATEGY
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BE ACTIVE ON SOCIAL NETWORKS
BEFOREBEFORE
4.66 Billion eyeballs
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MAKE SPOTLIGHT YOUR FRIEND
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THE ART OF LISTENING
The Lost Art of Listening, Second Edition: How Learning to Listen Can Improve Relationships
by Michael P. Nichols PhD
…WELL
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THE ART OF LISTENING …WELL
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MONITOR YOUR BRAND, YOUR TEAM, YOURSELF
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WHO IS THE CROWD
GENUINELY INTERESTED
FRIENDS OF FRIENDS OF …
2 CATEGORIES
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WHO IS THE CROWD
SOME CF PLATFORMS RELY ON FRIENDS OF FRIENDS OF …
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PLATFORM OVERVIEW
Not ‘All or Nothing No VettingCustomer SupportGogo Factor4% & 9%
All or nothingVettingCustomer Support5%Not ‘All or Nothing
No VettingCustomer Support4% & 8%
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LET’S SEE WHAT A GREAT CAMPAIGN LOOKS LIKE END-TO-END
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THANKYOU
@DIANA_FYAZ
