The Crowdfunding Craze - fundraising123.org EduWeb14 presentation.pdf · Crowdfunding:...
Transcript of The Crowdfunding Craze - fundraising123.org EduWeb14 presentation.pdf · Crowdfunding:...
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#eduweb14
The Crowdfunding Craze
in Higher Ed
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Jamie McDonald Follow @genero_city
Chief Giving Officer of Network for Good
Founder of GiveCorps, online giving software for nonprofits and Higher Ed
Dayna Carpenter Follow @boyles_d
Director of Annual Giving at UMBC
Board of Directors – Northeast Annual Giving Association, Ltd.
Today’s presenters
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Crowdfunding has
a long
HISTORY
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Now,
Crowdfunding is making waves in
Higher Ed
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haven't CHANGED
The fundamentals for higher ed
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But your passionate community
…students, alumni, parents, faculty, staff, others
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Has more power to move the needle...
…even with annual giving.
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With crowdfunding, social media +
great technology...
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It’s like a party for your school
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What is it?
Crowdfunding:
Project-Based Annual Giving
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What is it?
Crowdfunding:
Giving Days
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What is it?
Crowdfunding:
Peer-to-Peer Fundraising
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What is it?
Crowdfunding:
Student/Faculty Philanthropy
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Crowdfunding: building major gift funnel
Planned or Principle Gifts
Major Gifts
Annual Giving
Crowdfunding Principles
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Segmentation
• Prescriptive vs. Self-selected Segmentation
• Lead-Generation and Data Capture Tool
• If used right, reduces donor fatigue
– Changes the “voice” of the Asker
– Subtle way of involving donors in a “second ask”
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Phases of a Capital Campaign (and a Crowdfunding Campaign)
• The Quiet Phase
• The Campaign Kickoff
• The Public Phase
• The Campaign Closing Celebration
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Rosso’s Concentric Circles Constituency Model
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UMBC Crowdfunding: Pilot
• Launched in June of 2013
• Partial responsibility of one staff person
• Focused on student organizations
• 323 total donors
• 8.5% of all first-time donors to UMBC
• $16,838.50 (Average gift of $52.13)
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UMBC Crowdfunding: The Future
• Connecting with Events
• Incorporating in Direct Mail and Calling Efforts
• Personalized pages for high-end donors
• Team – or – Board/Chapter-based Giving
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What’s the right goal?
Donors New Donors Dollars Recurring Givers Participation
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You can still use a giving
pyramid to determine goal Raise $50,000 in campaign
• 8,500 donors in data file
• 3% participation (and you’ll
definitely attract new donors, so
this should be a safe bet)
• 255 Donors
22
(Planning + Inspiration) = Success
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Challenges Matching Funds Events
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Teach campaign managers to be contagious
Regular, SHAREABLE
content
Donor list
Prospect list
Faculty/Staff
Students
Social channels
Media
Administration
Hint: COPE - Create Once; Publish Everywhere
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• Ideally: – Clean, simple giving process
– Automated thank you and tax receipt
– Mobile-ready for both learning and giving
– Be easy for your team to set up, update, and manage
– Embedded social sharing
– Instant reporting on the progress of your campaign
– Multiple inspiring fundraising pages
– Equipped to show your matching funds
– Peer to Peer fundraising capability
– Donor scroll online
Buy vs. Build?
What online giving capabilities do I need?
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Case Study: Project-based annual giving
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Case study: Giving Day
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Case study: Peer or Ambassador Campaign
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Case study: Student Philanthropy
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The Long-Term “Sticky” Donor
• Provides a great “first” giving
experience
• Highlights direct donor impact
• Broadens fundraising constituency
• Identifies donor interests –
contributing to marketing
opportunities
• Turn students and young alum into
Philanthropists – instill habit of giving
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Thank You
Higher Ed Solutions:
www.networkforgood.com/givecorps