Date post: | 14-Feb-2017 |
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Government & Nonprofit |
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Nonprofit Crowdfunding -‐ How to Win Friends and Influence Donors
1/14/16 1pm Eastern
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Before we get started »
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Our guest presenter »
Rachel Ramjattan, CFREFounder and principal of Nonprofit Plus, LLC.
Before becoming a consultant, Rachel served Catholic Charities of the Archdiocese of Miami by managing donor development, fundraising events, social media, website administration, grant reviews, and Salesforce-based constituent relationship management systems.
@RachelNPP
How to Win Friends and Inf luence Donors
NONPROFIT CROWDFUNDING
Hello!
Rachel Ramjattan, [email protected] @RachelNPP
Proud business partner of
Live Tweet #Bloomerang @RachelNPP @BloomerangTech
Which of the following best describes your
experience with crowdfunding?
A) Never done it
B) Tried it but wasn’t too successful
C) Implemented at least 1 campaign that
raised more than $5,000.
Quick Poll
1 What is crowdfunding?
2 Crowdfunding tools
3 How to win friends
4 Turning new friends into long term donors
What We’ll Cover
Live Tweet #Bloomerang @RachelNPP
@BloomerangTech
Live Tweet #Bloomerang @RachelNPP
@BloomerangTech
Crowd sourcingSocial fundraising
Peer‐to‐peer fundraisingRaising $ from a large number of people usually via the Internet.
Earliest Crowdfunding Campaign ‐ 1884
Joseph Pulitzer got 160,000 New Yorkers to donate $100,000+ to build the
pedestal of the Statue of Liberty.
What is Crowdfunding?
#Bloomerang @RachelNPP @BloomerangTech
• $5.1Billioncrowdfundingraisedin2013• Crowdfundingrevenuesgrew60%from2012to2013andby70%from2013to2014
• Peer‐to‐peergivingis23%ofallonlinegiving• Averagenonprofitcampaignraises>$9,000percampaign
By the Numbers
Sources: Craig Newmark: Cracking the Crowdfunding CodeNetwork for Good: Digital Giving Index 2014
#Bloomerang @RachelNPP @BloomerangTech
Source:CraigNew
mark,CrackingtheCrow
dfundingCode
1. Largenumbersofdonorscangivesmallamounts2. Individualscansupportspecificprojects3. Providesregularupdatesandfeedbackonprojectprogress4. Platforms’givingpagesoptimizedtogeneratedonations5. Leveragesexistingpersonalrelationships6. Projectseasytofindonsocialmedia,email&digitalchannels7. Givinglevelsandrewardsmotivatepeopletodonate8. Peerrecognition(folkslovetoshowofftheirphilanthropy!)9. Easytogiveviaamobiledevice
Why Crowdfunding Works
Source: Bloomerang – 9 Reasons Why Peer‐to‐Peer Fundraising is so Effectivehttps://bloomerang.co/blog/9‐reasons‐why‐nonprofits‐should‐consider‐crowdfunding/
1. Projectthatneedsfunding2. Peopleinterestedinthatproject3. Platformthatconnectsthetwo
Crowdfunding Recipe
#Bloomerang @RachelNPP @BloomerangTech
1. Narrowscope‐ $10,000orless,urgent,specific2. Shortandfixedduration‐ 8to10weeks3. Specifictargetaudience
- Ex: Social Media savvy millennials
4. Quantifiableunitsofimpact- Ex: $50 = 1 day of housing for homeless
5. EmotionalandpersonalsuccessstoriesEx: Formerly homeless now self-sufficient
Ideal Project
#Bloomerang @RachelNPP @BloomerangTech
1. CapitalCampaigns2. Appealsforgeneralfunds3. Projectsthatcost$10,000+4. Fundsforlongtermprojects
What Doesn’t Work
#Bloomerang @RachelNPP @BloomerangTech
1. Individualsages24‐35*2. Currentdonors,board,&staff3. Studentsearningservicehours.4. Beneficiaries5. Peoplewhoknowsomeone
impactedbyissue/cause
Interested Supporters
*Source: https://www.fundable.com/crowdfunding101/crowdfunding‐statistics
#Bloomerang @RachelNPP @BloomerangTech
• In2012,morethan536onlineplatformsofferingcrowdfundingservicesworldwide
• Eachsiteoffersdifferentfeatures,costs,andbenefits.
Crowdfunding Platforms
Source: Massolution Crowdfunding Industry Report (2013)http://www.crowdsourcing.org/editorial/crowdfunding‐industry‐trends‐and‐statistics‐infographic/25662
#Bloomerang @RachelNPP @BloomerangTech
Crowdfunding isn’t new, but its popularity has changed the fundraising landscape.
1. Accesstodonordata2. Fees3. Paymenttypes4. Remittancerules5. Easeofuse‐ branding,automatedreceipts,personal
pages,video,progressupdates…6. Socialmediaintegration7. Tax‐receiptingconsiderations
Choosing the Right Technology
#Bloomerang @RachelNPP @BloomerangTech
Choosing the Right Technology
The technology really doesn’t matter.
Success depends on how well you market your campaign to your
network of supporters.
Choose the platform that supports your needs, goals and available
resources.
#Bloomerang @RachelNPP @BloomerangTech
Whatpercentageofcrowdfundingcampaignsfailtoraiseatleast20%oftheirgoal?
A) 26%B) 50%C) 81%
Quick Poll
• Crowdfundingcampaignsthatdon’traise30%ofgoalinthefirstfewdaysaremorelikelytofail
• 81%ofcrowdfundingcampaignsfailtoreach20%oftheirgoal*
• Successdependsonyourabilitytomarketthecampaign
Avoid Disappointment
*Source: Kickstarter Stats 2014http://www.crowdlifted.com/news/2014/1/crowdfunding‐flops‐kickstarter‐campaign‐failure‐rates‐by‐category#
#Bloomerang @RachelNPP @BloomerangTech
• Determinehowyou’llthankdonors• Createtopnotchtemplates• Usepowerfulstories,images,andvideo• Write“HowTo”documents• Findclientswillingtocreatepersonalpages• Automatereceipts,thankyou,notifications• Planhowtoincludeofflinedonations
Do Your Homework
#Bloomerang @RachelNPP @BloomerangTech
• Makesureyoucanaccessdonorinfo• Determinehowyouwilladddatatoyourexistingdonorrecords
• Createsegmentsforparticipantsinyourcrowdfundingcampaign
• Testdatadownloadprocess
Plan to Retrieve your Data
• Noonewantstogofirst• Fairweatherfans• Bandwagonjumpers• Liketobetreatedas
investors• Knowlittleaboutyou
Know Your Crowdfunding Donors
#Bloomerang @RachelNPP @BloomerangTech
1. They’renotthatintoyou2. Givebecauseafriendasked3. Notnecessarilyinterestedincause4. Wanttoknowtheimpactoftheirgift5. Maygiveagainifremindedhow
they’reconnectedtoyourcause6. Highattritionrate
Know Your Crowdfunding Donors
#Bloomerang @RachelNPP @BloomerangTech
• Empoweryourchampions• Identify them early, help them start• Show them easy ways to fundraise• Tout their success on social media/email• Encourage them to recruit others• Create a leader board and publish it often• Provide frequent updates & fundraising tips• Reward them with prizes
How to Win Friends
#Bloomerang @RachelNPP @BloomerangTech
• BuildMomentum• Identify donors to give early• Invite others to jump on the bandwagon• Thank you/motivation calls• Thank early donors ASAP and show them
how to increase their impact• Keep them updated on their fundraiser’s
progress.
How to Win Friends
#Bloomerang @RachelNPP @BloomerangTech
• Makethemfeellikeheroes!• Thank them – fast• Thank them – often• Thank them - publicly
How to Win Friends
#Bloomerang @RachelNPP @BloomerangTech
• TomAhernsaysfirst‐timedonorsthatreceiveapersonalthankyouwithin48hours ofmakingtheirgiftarehowmanytimesmorelikelytomakeasecondgift?
a) 2 timesb) 4 timesc) 8 times
Quick Poll
#Bloomerang @RachelNPP @BloomerangTech
“ShowinggratitudeisOneofthesimplest
YetmostpowerfulthingsHumanscandoforeachother.”
‐RandyPausch
Make Gratitude Your Attitude
#Bloomerang @RachelNPP @BloomerangTech
1. #DonorLoveRelationships- Surprise them- Make them feel amazing- Welcome series- Progress updates that show impact- Stories, stories, stories- Get to know them
Love them into a long term friendship
“You’re Amazing!Just the way You are…”
#Bloomerang @RachelNPP @BloomerangTech
2.Makethemfeellikeinsiders- Don’t bait and switch- Remind them of their connection- Communicate on their preferred channel- Show impact and communicate needs- Invite them for a tour- Let them set the pace- Make them feel loved
Love them into a long term friendship
#Bloomerang @RachelNPP @BloomerangTech
• SoleBrothersHelpingOthers• Sole Brothers on Channel 7 News• Children’s Movement of Florida Feature
• St.Patrick’sPre‐SchoolDream
How I’ve Used Crowdfunding
#Bloomerang @RachelNPP @BloomerangTech
• Basics&MoreFundraisingcourses• DepositaGift11‐videoseries
• How to Prepare to Launch a Crowdfunding Campaign
• Volunteermatch.com• Slideshare.net (Searchforcrowdfunding)
Resources
#Bloomerang @RachelNPP @BloomerangTech
We’llshowyouhowtosuccessfullylaunch(andcrush)yourcrowdfundingcampaign.
WeekOne: AdvancePreptoYourBestCampaignEverWeekTwo: Storytelling,YourCampaign’s‘SecretSauce’WeekThree:Marketingandrunningyourcampaign
WeekFour: FollowupforLastingSuccess
1. Step‐by‐stepguidefromsetupthroughdonorappreciation2. Insidertipstomarketyourcampaign,energizesupporters,&attractnewdonors3. Secretsaboutcrowdfundingdonorsthatcanmakeorbreakyou4. Templates,‘insider’secrets,andbonuses5. PrivateFacebookgroup‐ getadviceonyourcampaign
Ready to raise $10,000 or more this year? Join me & one of America’s top 50 fundraisers, Pamela Growwww.nonprofitplusteam.com/bloomerang
Rachel Ramjattan, [email protected]
Tweet @RachelNPPwww.facebook.com/nonprofitplusteamwww.linkedin.com/in/rachelramjattanwww.pinterest.com/rachelnpp
Questions?
#Bloomerang @RachelNPP @BloomerangTech
https://bloomerang.co/resources
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Storytelling in 2016 – 5 Things Your Nonprofit Should Do Differently
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