Crowd-funding, Crowdsourcing crowd financing, equity crowd-funding, crowd-sourced fundraising 10/16/2013. Looking to the Crowd

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1 Looking to the Crowd New Rules of Volunteer and Benefactor Engagement NonProfit Day 2013 Kristina Huber, CFRE October 22, 2013 No matter who you are, most of the smartest people work for someone else. ~ Mike Addison, Proctor and Gamble, New Business Development Crowd-funding, Crowdsourcing crowd financing, equity crowd-funding, crowd-sourced fundraising What it is It is the collective effort of individuals that network and pool their resources - friends, contacts, individuals with money or know where the money is more recently done through the Internet. 1

2 Crowd-funding Model People or organizations that propose the ideas or projects to be funded Crowd of people who support the proposals Crowd-funding is then supported by an organization (the platform ) which brings together the project initiator and the crowd. Crowd-funding sites allow your organization to set up an online fundraising campaign based around a fundraising page, and accept money directly from that page using the website s own credit card processor. Getting started Tricks of the Trade: What are some of the cost effective ways to raise awareness, trend your brand, invite giving and make new friends for your organization? 2

3 Wedid.it What tangible product is the non-profit world selling? CRM 3

4 Crowd-funding Do your research Shop around (features, costs, benefits) Check out projects that are happening now Which projects are getting funded or not? How active are the project administrators? Is your cause ready to be a part of the crowd? Look and feel (appearance and appeal) Ease of use (how much tech know how) Payment processing Fees (gift eaters) Marketing and social networking capabilities (oh the possibilities) Attraction to potential benefactors Social media and nonprofit crowdfunding go together like peanut butter and jelly. Or Bonnie and Clyde. Or Bert and Ernie You get the point: nonprofit crowdfunding needs social media. ~Rob Wu CEO of CauseVox 4

5 Social media is a way and means to engage people - create an audience for your organization. The goal for social media is to get that audience to take action. Elements of your social media campaign Story Community Website Administration Social Media and Crowdfunding Broadcast/blast Appreciation/Flattery POV Involve Insight Action Is YOUR organization running with the right crowd? 5

6 Volunteer Engagement Branding There s an APP for that 6

7 Sampling of sites for reference Razoo: a movement of people who want to make generosity a part of everyday life. Over 14,000 nonprofits have used this platform to raise around 100 million. Causes: For people who want to change the world. Categories vary from disaster relief efforts to human rights. Causes has raised more than 30 million for non-profits. Buzzbnk: A UK platform that supports social entrepreneurs and innovators. Positive People Backing Bright Ideas. StartSomeGood: StartSomeGood empowers social innovators, and forwards the trend of social entrepreneurship. It is a relatively new social site. Crowdrise: Named the Top 25 Best Global Philanthropist. Since 2009, Crowdrise has helped bring together volunteers and philanthropists to spread the call of service. CauseVox: Is a NYC startup social site that focuses on helping small to medium sized nonprofits raise funds and have a social impact. Kickstarter: A project crowdfunding website that any organization or individual can use to finance their event or project. Indiegogo: An international crowdfunding site for creative types that can also be used to raise money for charity and non-profit organizations. Rockethub.com: A crowdfunding platform used by all types of organizations and individuals ranging from scientists to philanthropists. Pozible.com: An Australia-based website that encourages creative projects and ideas. This website can also be used for charity purposes upstart.com startsomegood.com funderhut.com causesinternationalupycling.com eventbrite.com wedid.it 7

8 BibliographyBibliography Nichols, Lindsay. How to Use Social Media for Nonprofit Crowdfunding. September 18, Garecht, Joe. How to Use Crowd-Funding Sites to Raise Money for Your Non-Profit. April 23, crowdfunding-for-nonprofits-experimentationmandatory.html Jaworski, Kathi. Crowdfunding fr Nonprofits: Experimentation Mandatory. June 4, Questions Contact info: 8