Funding Your Project Through Crowdfunding. What is Crowdfunding?
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Funding Your Project Through Crowdfunding
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Transcript of Funding Your Project Through Crowdfunding. What is Crowdfunding?
Funding Your Project Through Crowdfunding
What is Crowdfunding?
Types of Crowdfunding
1. Equity Based Crowdfunding
2. Property / Real Estate Crowdfunding
3. Donation Based Crowdfunding
4. Lending Based Crowdfunding
5. Reward Based Crowdfunding
Stats, Stats, and More Stats
• It takes 2.84 weeks to raise the first 25% of the funding goal and 3.18 weeks for the last 25%
• Campaigns that have 4 or more external links raise 103% more in funds
• Most commonly pledged amount is $50• Most common time for making a pledge is
11 am
Success Rate Stats …
• 50% (or lower) of all projects listed are successfully funded
• Once a campaign raises over 20% of the initial funding goal, the project has an 80% chance of successfully reaching its total funding goal
• once a campaign hits 30% of its funding goal the success rate climbs to 90% (compared to only 50% after a campaign reaches the 5% mark).
• The faster the momentum is gained the better• campaigns that reach the 30% mark within the first week have a
higher rate of success.
• Campaigns that hit 30% of their target get fully funded 90% of the time
Crowdfunding is storytelling with a goal.
What Size Projects Can be Funded?
Amount of funding pledged for projects on Kickstarter.com as of June 2015, by project category (in million U.S. dollars)
Why People Pledge ...
• They like you
• They’re passionate about the cause or like your story
• They are after the cool rewards
• They are spurred on by social kudos
Commercial World Applications
• NOT for general running costs (Must be project-based)
• Suggestions• Start-ups• Implementation of new initiatives• Leverage for grants• Lodgement of IP• Prototyping• Proof of concept trials• External skills and knowledge• Tools and equipment• App Development and Games• Marketing collateral (e.g., website) and initiatives (e.g.,
product launch)
Creative / Artistic Applications
• Publishing
• Recording
• Film making
• External services (e.g., editing, etc.)
• Documentaries
• Photography
• Dance
• Drama and performing arts
• Launch, exhibition and marketing
Charities
• Leverage off limited resources
• A point of difference – stand out
• Leverage for grants and CSR
• Newsworthiness
• Never forget the passion
• Be mindful of ‘all or nothing’
Community Groups
• Rotary, etc. – paying it forward
• Local sporting clubs• Equipment• Events• Tours and travel• Promotion and exposure
• Local action groups
• Schools
Planning Your Project
1. Build your Crowd
2. Project Name
3. Tag Line
4. Project Description
5. Link to your YouTube Video
6. Logo
7. Photo Gallery
8. Funding Target
9. Funding Timeframe
10.Rewards
Breaking down bigger projects
• Size of campaign is relevant to your networks
• Bite sizes pieces are more likely to ‘get up’
• Success breeds success!
Things in Common of Successful Projects• An existing audience
• A solid idea and sellable vision for the product or service
• Careful pre-planning and preparation, including budget
• A strong presentation, ideally coupled with high production videos
• An appealing reward structure to the project’s audience
• Ongoing outreach to backers
• Effective social media, marketing and PR strategies
Getting the Best Results
Here’s a Dramatic Question for You …
Why should we care?
Create Emotional Content
Appeal to Human Emotions
Create CREDIBILITY &
TRUSTTrust is built on Credibility.
Sell the Sizzle!
Be Consistentacross all platforms.
Join us in developing this project
with a contribution so together
we can make something magnificent.
Thank You
Any Questions ???
Please share a video testimonial.
