Are you a social entrepreneur with a vision for social change? A tech founder with a dream? A non-profit leader looking to engage your supporters as stakeholders?
If so, then you know what often stands between an innovative idea and its execution is financing!
With increasing frequency, crowdfunding has been filling the money gap―and it empowers action while raising awareness for issues. This platform enables individuals around the world to participate in big ideas and take ownership in the projects they believe in.
Amy Lesnick, Head of Social Innovation at Indiegogo, discusses how crowdfunding serves startups by helping entrepreneurs to:
-Demonstrate a market for their products
-Gain rapid customer feedback
-Cultivate customer advocates
-Increase awareness for their brand and offering
Join us to learn more about making crowdfunding work for you.
4. Pooling of funds from the people
who are passionate
about an idea, leader, cause
One dollar at a time
Often in return for a… “Perk” or Token of thanks
Reaching into your community and
Engaging their community
What is Crowdfunding?
7. What is new…
You don’t need to be Pulitzer
Rise of social
networking
Adoption of
online
payments
24/7/365
Crowdfunding =
efficient
+
accessible
+
fun
9. Anyone, Anything,
Any time
Global
Keep what you raise
Gogo Factor
What makes us unique?
Since 2008
196 Countries
Over 100,000 campaigns
$ millions disbursed every week
60+ employees
11. 1. Raise Capital
2. Increase Awareness
3. Engage Community
as Stakeholders
4. Validate Market
5. Get Smarter faster
6. Serendipity
Why should you Crowdfund?
12. How Are Social Innovators
Crowdfunding?
Launch/Ignite Seed/Scale Raise awareness
13. How Are Founders Crowdfunding?
Brand/Pre-sell Customer Design Fund production
.
14. How Are Funders using Crowdfunding?
CSR/Leverage Validate Market Community of support
.
$10,000
in matched funds by
15. How Are Funders using Crowdfunding?
Build Capacity of Grant Portfolio & Amplify Grant
.
16. Whole Foods Foundation Warner Brothers/Batman
How Are “Citizens” and Brands using
Crowdfunding?Over $2 million raised in Hurricane Sandy Relief; Over 160 campaigns
.
19. How Crowdfunding Works
1) Create a campaign
2) Engage your
community
3) Raise funds
4) Fulfill perks
20. So, what are the secrets of success?
q Engaging Pitch
q Compelling story/Specific objective
q Attainable Goal
q Unique Perks
q Audience that cares
q Proactive Communication
21. What problem are you trying to solve?
Why should I care?
What will happen if this continues to go unresolved?
Stats/Impact?
How does this help me?
Who are you?
What is your vision?
Why are you/your team uniquely suited to solve this?
What is your solution?
Why is it better than other solutions?
Have you demonstrated effectiveness?
What is the potential here?
Creating a Great Pitch
The keys to creating a good pitch are honesty,
transparency and authenticity.
22. What specifically are you raising money for?
Pilot, first manufacturing, replication/scale?
Budget numbers? Matches or other funding sources?
When will this happen?
How will I know if we’re successful?
If successful what happens next?
Call to action
What do you need from me?
Why should I join with you?
What are the cool benefits/perks if I do?
What are other exciting engagement opportunities?
Creating a Great Pitch
23. Creating a Great Pitch
More tips: http://support.indiegogo.com/entries/20353061-create-a-great-pitch
People contribute to a compelling story/people, not a product…
Make it personal…
Original Pitch Video Here: http://youtu.be/WdWZ8WVv6qk
24. Written Description
Campaign Essentials
More tips: http://support.indiegogo.com/entries/20353061-create-a-great-pitch
§ 1-3 min max
§ Grab attention in first 30sec
§ Campaigns with pitch video
raise 114% more money
Video Basics
26. Goal Size
• 81% of campaigns that reach goal, exceed it by average of 32%
• Probability of campaign reaching goal quadruples once reach 10%
27. Creating perks
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 change/add perks throughout campaign
§ Perks can be limited edition
§ Watch for costs of fufillment
Perks
28. Creating perks
Perk Ideas
28More tips: http://www.indiegogo.com/blog/2012/07/indiegogo-insight-perk-pricing-practices.html
http://support.indiegogo.com/entries/20582388-great-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
29. Creating perks
Show appreciation
More tips: http://www.indiegogo.com/blog/2012/07/indiegogo-insight-perk-pricing-practices.html
http://support.indiegogo.com/entries/20582388-great-perk-ideas
Pre-sell product Engage in design
30. Build a campaign “host committee”
Seek out communities that already exist
Audience that cares
More tips: http://support.indiegogo.com/entries/20353061-create-a-great-pitch
§ Raise 30-40% from inner circle within first
24-48 hours
§ Consider soft launch
Early $ matters
32. ü Soft launch
ü Creating an “Action Team" at the beginning of your
campaign.
ü Share with friends & family immediately – email everyone
you know!
Personalized emails result in highest contribution rate
ü Update your email signature
ü Once you gain traction, engage in a broader media push
ü 20-30% of early funds should come from inner circle
Communication
32More tips: http://www.indiegogo.com/blog/2012/07/indiegogo-insight-winning-the-middle-game.html
Engage Inner circle first
34. Communication
34
Leverage updates to update funders
The Basics
• Sent at the end of the day to all funders and
“favorites”
• Send 1-2 a week
• Treat it like a blog
• Engage your community
What to Talk About
• Specific perks (details, new additions)
• Campaign developments/milestones
• Media coverage
• Organizational developments
• Add new content
• Make funders feel like they’re special, part of
an exclusive community
35. Communication
35
Use social media to engage
• Ask questions
• Recognize and thank
contributors
• Do polls
• Always include your campaign
link
• Use hashtags
• Ask for retweets
• Whole team should tweet
37. Communication- Innovate with your customers
Test a concept directly
with your customers.
Not just investment:
ENGAGEMENT.
These guys now have
money, press, and a
gang of evangelical
customers who will
spread WOM.