Introduction to crowdfunding

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Transcript of Introduction to crowdfunding

  • Introduction to

    Crowdfunding

    ~Bret Harris, Strategic Partnerships

    support@indiegogo.com

  • Agenda

    Crowdfunding 101

    Choosing a platform

    Why people contribute

    What makes a good campaign?

    The gogofactor

  • Pooling of funds, from the people

    who have passion about your idea.

    Often giving back a perk.

    Crowdfunding is..

    Introduction

  • Crowdfunding is not new

    Over $100,000 raised

    Average contribution: $0.89

  • Why crowdfunding?

    1. Raise money

    2. Gain visibility

    3. Gauge demand &

    mitigate risk

    4. Connect with your

    audience

  • Crowdfunding

    Crowdfunding is multiplying the power of your community, and your communitys communities, to make dreams happen.

    Crowdfunding IS Crowdfunding isnt

    Shared enthusiasm Static collection

  • There are no magic funding elves (sorry )

    You are responsible for generating

    interest and momentum for your

    campaign!

    Expect to raise 20-30% of funds from friends & family

    Prepare your marketing plan, build virality

    Preparation = success

  • What makes us unique?

    First! Since 2008 $ millions disbursed every month

    Open Anyone, Anything, Anywhere, Any time You keep your moneyno matter what! Merit-based (gogofactor)

    Global Were everywhere (on earth anyway) Over 120,000 campaigns 196 Countries

  • Musician

    Writer

    Entrepreneur

    Inventor

    Small Business

    Maker

    Religious organization

    Artist

    Community Activist

    Photographer

    Food lover

    Game Developer

    Non-profit

    Designer

    Dancer

  • What motivates people to contribute?

    Four Ps behind why people fund:

    1. Passion

    2. Perks

    3. Participation

    4. Pride

  • What makes a good campaign?

    Engaging Pitch

    Attainable Goal

    Unique Perks

    Proactive Communication

  • Creating a Great Pitch

    Who: are you?

    What: are you raising money for?

    When: will your project take place?

    Where: will your project take place?

    Why: are you raising funds?

    How: can people get involved?

    The keys to creating a good pitch are honesty,

    transparency and authenticity.

    More tips: http://support.indiegogo.com/entries/20353061-create-a-great-pitch

    Make it personal

  • Make it interesting

    More tips: http://support.indiegogo.com/entries/20353061-create-a-great-pitch

  • Goal Size

    87% of campaigns that reach their goal exceed itby an average of 32%

    Consider breaking large goals into smaller projects success builds momentum

    Expect to raise 25-35% of your goal from within your own network (friends & family)

    The probability a campaign will reach its goal quadruples (4x) once it reaches 10% of its goal.

    Setting a Higher Goal Doesnt Always Mean More Money

  • Benefits of perks

  • Benefits of perks

  • Creating perks

    17

    More tips: http://www.indiegogo.com/blog/2012/07/indiegogo-insight-perk-pricing-practices.html

    http://support.indiegogo.com/entries/20582388-great-perk-ideas

    Perks should be unique, creative, and personal.

    You can add up to 12 perks at one time. The average successful campaign has 5 8 perks.

    You can have more than 1 perk at a same amount

    You can change/add perks throughout campaign

    Join the conversation

    Events

  • Perks

    Perk Ideas

    Offer early access to products/services

    Offer discounts or coupons

    Throw a party for funders

    Donated perks from local businesses

    Teach a class or host a tour

    Offer unique, limited edition items

    Free entry or membership discounts

    Personal thank you notes or phone call

    Share insider secrets

    Join the conversation

  • Communication

    Communicate early & often

    1-2 updates per week (treat it like a blog)

    Develop a social media/PR strategy

    Discuss updates, new perks, new media,

    milestones, etc.

  • Winning the middle game

    More tips: http://www.indiegogo.com/blog/2012/07/indiegogo-insight-winning-the-middle-game.html

  • Leverage Insight from Dashboard

    Identify, thank, and

    engage key

    influencers!

    DASHBOARD : Sample Project

  • Check out our Blog for insights, tips and ideas:

    https://www.indiegogo.com/blog/

    Browse Indiegogo.com to view other successful campaigns:

    http://indiegogo.com

    Visit our Campaigner Happiness page to learn the basics:

    http://www.indiegogo.com/happiness/campaigner

    Browse our Help Center for answers to specific questions:

    http://support.indiegogo.com/forums

    Learn more on our website

  • Merit-based platform

    More tips: http://support.indiegogo.com/entries/20589776-the-gogofactor

    An internal, proprietary algorithm used to measure

    the overall activity of your campaign.

    What is the gogofactor?

    Provides equal opportunity for any campaign to be featured

    (home page, newsletter, categories, etc.)

    What is the purpose?

    Gogofactor

  • Merit-based platform

    More tips: http://support.indiegogo.com/entries/20589776-the-gogofactor

    How does it work?

    Campaigns with the highest ranking gogofactor scores will be featured/highlighted

    The more active you are in promoting your campaign, the higher your gogofactor score will be.

    50% of the gogofactor is determined by internal activity by you (campaign owner) and other 50% is determined by external activity (crowd)

    Gogofactor

  • Merit-based platform

    More tips: http://support.indiegogo.com/entries/20589776-the-gogofactor

    Gogofactor

    Internal Control

    Adding perks to your campaign (we recommend 3-8)

    Add outside links on your campaign

    Include a video for your pitch

    Add Images/video to your gallery

    Regular updates to your contributors

    Proactively promoting your campaign

    External Control

    Campaign activity (comments, sharing, etc.) # of unique funders % to goal Total funds raised

  • Are you next?

  • Additional Info

    http://support.indiegogo.com/forums

    Blog

    http://www.indiegogo.com/blog/

    Thank You!