Small Donors, Big Impact

CrowdfundingAndrew Littlefield and Robin Eschler

August 12th, 2015 2:30

Small Donors, Big Impact

Crowdfunding

Presenters

AndrewLittlefield

RobinEschler

Enough about us…

What isCrowdfunding?

Before it was crowdfunding, it was…

TelethonsDirect mail

Trivia Time!

What was one of the first ever major crowdfunding projects?

Flickr user David Saddler, CC BY 2.0

≠NonprofitCrowdfunding

Product-focused

Pre-Ordering

Transaction

NonprofitCrowdfunding

Donation

Different motivations

Different approaches

Kickstarter : NonprofitCrowdfunding :: QVC : Telethons

Image illustrating motivations for support

Motivations

Personal connection

Connected via friend or family

Sense of duty/obligation

Trivia Time!

What’s the average size of a one-time online gift?

Average online donation = $104

Long before crowdfunding…

Nonprofit and More

Know your audience!• Walk in their shoes• What motivates them?• Create an avatar of an

ideal customer

What motivates their emotions?

Current relationships

Their influence

Public

Planning

Setting a Goal

Setting a Goal

Realistic

What’s Realistic?

Selecting a Project to Fund

Project Based

Flickr user Texas A&M University-Commerce Marketing Communications Photography

Use Data to Make Decisions

Assets

Crowdfunding Calculator

The 40% Threshold

9/10 Campaigns that hit 40% of

their goal go on to reach 100%

Seed The Pot

Flickr user stu_spivack

Find your strongest supporters

Expand your network

Metrics

What Should You Track?

Metrics

Donations

Traffic

Conversion

VPV

Email

Conversion

Conversion Rate

Page visitors

Donors= Conversion rate

6%

6% 11%

6% 11%456 donations

7195 visits

6%30 donations

269 visits

11%456 donations

7195 visits

Average conversion = 6.39%

Email

Open Rate

Click Rate (CTR)

Delivered

Email Tracking Tool

What makes a goodCrowdfunding Page?

Clearly communicated, well defined goal

The HOOK that Converts

• Creative• Compelling• Valued• Collaborations?• Lead the reader to the next• Creative• Giving level specific

• Motivate sharing

Rewards Continue the Story:

High Converting• Clean design• Easy to donate• First visit vs

repeat• Mobile responsive• Sharability

Launching

Where Does Your Audience Come From?

Email – 56%

Facebook – 25%Website – 10%

Search – 5%

Twitter – 3%

Other – 1%

Email Promotion

Components

Subject Line

Perfect Your Subject Line

Good:“78 and counting, who’s going to be next?”

Bad:“CHECK OUT OUR CAMPAIGN!!!!!!”

Body

Call-to-Action

Clear and direct

Action/Verb oriented

One action per email

How Often?

Video

Stories

Use Variety to Avoid Burnout

Social proof

Mini-Goals

Test and Measure

Flickr user U.S. Army RDECOM

Types of Emails to Send

To Donors

Thanks

Updates

Referrals

Thanks

Updates

Referrals

Email Exercise

Building anAudience

=

NonprofitCrowdfunding

DigitalMarketing

Open the door for future communications

Website Conversions

The Path of Least Resistance

Use a Strong Call-to-Action

Social Media

What Does Online Support Look Like?

$

$

Donations over time

Stretch Goals• How much is needed When• What can be done with each level• Why will the market care?• Introduce one new stretch goal at a time, but be ready in advance• All in same campaign

• Good news!• Goal attainment• Contests• Beneficiary stories• Stay engaged with audience!• Ask questions for feedback

During and After

Donors = Investors

Identify Champions!

• Influence others• Take the lead• Enthusiastic• Advocates• Volunteers

What if you failed?!

Engagement Exercise

Case StudyThe Los Angeles Zoo

$117,884 31% 268%Raised across two appeals

First time appeal donor

Increase in appeal funding, YoY

“A lot of our donor base is older, and they still like getting a piece of mail that has a story and encourages them to give. A large portion of those people are still writing checks,”

Genie Vasels | VP of Adcancement

+

47% Raised of a $35,000 goal

122% Raised of a $50,000 goal

2013

2014

Case StudySmall Business Survival on the L.E.S.