Nonprofit Crowdfunding - How to Win Friends and Influence Donors

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  • Nonprofit Crowdfunding - How to Win Friends and Influence Donors

    1/14/16 1pm Eastern

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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, CFRERachel@nonprofitplusteam.comTweet @RachelNPP

    Proudbusinesspartnerof

    LiveTweet#Bloomerang@RachelNPP@BloomerangTech

  • Which of the following best describes your

    experience with crowdfunding?

    A) Never done it

    B) Tried it but wasnt too successful

    C) Implemented at least 1 campaign that

    raised more than $5,000.

    QuickPoll

  • 1 What is crowdfunding?

    2 Crowdfunding tools

    3 How to win friends

    4 Turning new friends into long term donors

    WhatWellCover

    LiveTweet#Bloomerang@RachelNPP

    @BloomerangTech

    LiveTweet#Bloomerang@RachelNPP

    @BloomerangTech

  • CrowdsourcingSocialfundraising

    PeertopeerfundraisingRaising$fromalargenumberofpeopleusuallyviatheInternet.

    EarliestCrowdfundingCampaign 1884

    JosephPulitzergot160,000NewYorkerstodonate$100,000+tobuildthe

    pedestaloftheStatueofLiberty.

    WhatisCrowdfunding?

    #Bloomerang@RachelNPP@BloomerangTech

  • $5.1Billioncrowdfundingraisedin2013 Crowdfundingrevenuesgrew60%from2012

    to2013andby70%from2013to2014 Peertopeergivingis23%ofallonlinegiving Averagenonprofitcampaignraises>$9,000

    percampaign

    BytheNumbers

    Sources:CraigNewmark:CrackingtheCrowdfundingCodeNetworkforGood:DigitalGivingIndex2014

    #Bloomerang@RachelNPP@BloomerangTech

  • Source:C

    raigNew

    mark,CrackingtheCrow

    dfun

    ding

    Cod

    e

  • 1. Largenumbersofdonorscangivesmallamounts2. Individualscansupportspecificprojects3. Providesregularupdatesandfeedbackonprojectprogress4. Platformsgivingpagesoptimizedtogeneratedonations5. Leveragesexistingpersonalrelationships6. Projectseasytofindonsocialmedia,email&digitalchannels7. Givinglevelsandrewardsmotivatepeopletodonate8. Peerrecognition(folkslovetoshowofftheirphilanthropy!)9. Easytogiveviaamobiledevice

    WhyCrowdfundingWorks

    Source:Bloomerang 9ReasonsWhyPeertoPeerFundraisingissoEffectivehttps://bloomerang.co/blog/9reasonswhynonprofitsshouldconsidercrowdfunding/

  • 1. Projectthatneedsfunding2. Peopleinterestedinthatproject3. Platformthatconnectsthetwo

    CrowdfundingRecipe

    #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

    IdealProject

    #Bloomerang@RachelNPP@BloomerangTech

  • 1. CapitalCampaigns2. Appealsforgeneralfunds3. Projectsthatcost$10,000+4. Fundsforlongtermprojects

    WhatDoesntWork

    #Bloomerang@RachelNPP@BloomerangTech

  • 1. Individualsages2435*2. Currentdonors,board,&staff3. Studentsearningservicehours.4. Beneficiaries5. Peoplewhoknowsomeone

    impactedbyissue/cause

    InterestedSupporters

    *Source:https://www.fundable.com/crowdfunding101/crowdfundingstatistics

    #Bloomerang@RachelNPP@BloomerangTech

  • In2012,morethan536onlineplatformsofferingcrowdfundingservicesworldwide

    Eachsiteoffersdifferentfeatures,costs,andbenefits.

    CrowdfundingPlatforms

    Source:MassolutionCrowdfundingIndustryReport(2013)http://www.crowdsourcing.org/editorial/crowdfundingindustrytrendsandstatisticsinfographic/25662

    #Bloomerang@RachelNPP@BloomerangTech

  • Crowdfunding isnt new, but its popularity has changed the fundraising landscape.

  • 1. Accesstodonordata2. Fees3. Paymenttypes4. Remittancerules5. Easeofuse branding,automatedreceipts,personal

    pages,video,progressupdates6. Socialmediaintegration7. Taxreceiptingconsiderations

    ChoosingtheRightTechnology

    #Bloomerang@RachelNPP@BloomerangTech

  • ChoosingtheRightTechnology

    Thetechnologyreallydoesntmatter.

    Successdependsonhowwellyoumarketyourcampaigntoyour

    networkofsupporters.

    Choosetheplatformthatsupportsyourneeds,goalsandavailable

    resources.

    #Bloomerang@RachelNPP@BloomerangTech

  • Whatpercentageofcrowdfundingcampaignsfailtoraiseatleast20%oftheirgoal?

    A) 26%B) 50%C) 81%

    QuickPoll

  • Crowdfundingcampaignsthatdontraise30%ofgoalinthefirstfewdaysaremorelikelytofail

    81%ofcrowdfundingcampaignsfailtoreach20%oftheirgoal*

    Successdependsonyourabilitytomarketthecampaign

    AvoidDisappointment

    *Source:KickstarterStats2014http://www.crowdlifted.com/news/2014/1/crowdfundingflopskickstartercampaignfailureratesbycategory#

    #Bloomerang@RachelNPP@BloomerangTech

  • Determinehowyoullthankdonors Createtopnotchtemplates Usepowerfulstories,images,andvideo WriteHowTodocuments Findclientswillingtocreatepersonalpages Automatereceipts,thankyou,notifications Planhowtoincludeofflinedonations

    DoYourHomework

    #Bloomerang@RachelNPP@BloomerangTech

  • Makesureyoucanaccessdonorinfo Determinehowyouwilladddatatoyour

    existingdonorrecords Createsegmentsforparticipantsinyour

    crowdfundingcampaign Testdatadownloadprocess

    PlantoRetrieveyourData

  • Noonewantstogofirst Fairweatherfans Bandwagonjumpers Liketobetreatedas

    investors Knowlittleaboutyou

    KnowYourCrowdfundingDonors

    #Bloomerang@RachelNPP@BloomerangTech

  • 1. Theyrenotthatintoyou2. Givebecauseafriendasked3. Notnecessarilyinterestedincause4. Wanttoknowtheimpactoftheirgift5. Maygiveagainifremindedhow

    theyreconnectedtoyourcause6. Highattritionrate

    KnowYourCrowdfundingDonors

    #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

    HowtoWinFriends

    #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 fundraisers

    progress.

    HowtoWinFriends

    #Bloomerang@RachelNPP@BloomerangTech

  • Makethemfeellikeheroes! Thank them fast Thank them often Thank them - publicly

    HowtoWinFriends

    #Bloomerang@RachelNPP@BloomerangTech

  • TomAhernsaysfirsttimedonorsthatreceiveapersonalthankyouwithin48hours ofmakingtheirgiftarehowmanytimesmorelikelytomakeasecondgift?

    a) 2 timesb) 4 timesc) 8 times

    QuickPoll

    #Bloomerang@RachelNPP@BloomerangTech

  • ShowinggratitudeisOneofthesimplest

    YetmostpowerfulthingsHumanscandoforeachother.

    RandyPausch

    MakeGratitudeYourAttitude

    #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

    Lovethemintoalongtermfriendship

    YoureAmazing!JustthewayYouare

    #Bloomerang@RachelNPP@BloomerangTech

  • 2.Makethemfeellikeinsiders- Dont 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

    Lovethemintoalongtermfriendship

    #Bloomerang@RachelNPP@BloomerangTech

  • SoleBrothersHelpingOthers Sole Brothers on Channel 7 News Childrens Movement of Florida Feature

    St.PatricksPreSchoolDream

    HowIveUsedCrowdfunding

    #Bloomerang@RachelNPP@BloomerangTech

  • Basics&MoreFundraisingcourses DepositaGift11videoseries

    How to Prepare to Launch a Crowdfunding Campaign

    Volunteermatch.com Slideshare.net (Searchforcrowdfunding)

    Resources

    #Bloomerang@RachelNPP@BloomerangTech

  • Wellshowyouhowtosuccessfullylaunch(andcrush)yourcrowdfundingcampaign.

    WeekOne: AdvancePreptoYourBestCampaignEverWeekTwo: Storytelling,YourCampaignsSecretSauceWeekThree:Marketingandrunningyourcampaign

    WeekFour: FollowupforLastingSuccess

    1. Stepbystepguidefromsetupthroughdonorappreciation2. Insidertipstomarketyourcampaign,energizesupporters,&attractnewdonors3. Secretsaboutcrowdfundingdonorsthatcanmakeorbreakyou4. Templates,insidersecrets,andbonuses5. PrivateFacebookgroup getadviceonyourcampaign

    Readytoraise$10,000ormorethisyear?Joinme&oneofAmericastop50fundraisers,PamelaGrowwww.nonprofitplusteam.com/bloomerang