Crowdfunding Presentation by HI-Arts, Stornoway
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Are you constantly looking for the right funding route but coming up empty handed? Are you looking for alternative routes to fund your project that doesn’t rely on public bodies? Would you like to start engaging people with your project now? Crowdfunding could be your answer. Crowdfunding is a modern, online and interactive way to raise funds directly from the public – or the Crowd – for your projects and activities. With the advent of Crowdfunding we can now turn our audiences into supporters and funders, by collecting multiple small donations online and offering unique incentives to encourage giving, not only can you raise funds to get your project of the ground but you can start to build a ‘buzz’ around it before hand. The workshop will cover all the aspects you will need to create, implement and market your Crowdfunding project. Including: • How does Crowdfunding work? • Where can I crowdfund – what platforms are available? • How to write the perfect pitch. • Choosing the right rewards. • Marketing your crowdfunding project. • Engaging, thanking and keeping in touch with your new funders. • Marketing your progress. • Your next steps. The workshop is suitable for all individuals, organisations and professionals who work within the Cultural, Creative, Heritage and Arts sector. Sian Jamieson, Audience Development Manager at HI-Arts will lead this 2 hour workshop and can provide opportunities for one to one consultations with about Crowdfunding and any ideas for potential projects after the event.
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Crowdfunding Presentation by HI-Arts, Stornoway
- 1. ‘It was the revolutionary fundraising model that swept Barack Obama to power – and it could help arts bodies in Britain stay in business.’ Crowdfunding for the Arts, Cultural and Creative sector
- 2. Crowdfunding Today’s Workshop • What is Crowdfunding? • How does Crowdfunding work? • Where to Crowdfund? • Writing your pitch • Choosing rewards • Marketing your campaign • Keeping in touch with your funders • Tips and Pitfalls • Your First Steps This workshop is powered by HI-Arts
- 3. What is Crowdfunding? “Survival of the fittest for creative ideas. Lots of people – each giving a small amount – can make good things happen. The ‘crowd’ decides what’s good, what’s not, what they want to fund and what they don’t…Good ideas will shine through and the wisdom of the crowd to fund them is a really exciting prospect.” Crowdfunder
- 5. £5 or more – Acknowledgement on the Hamish Henderson Archive Trust website £10 or more – Acknowledgement in the first Hamish Henderson Journal £20 or more – Exclusive signed copy of the Journal £100 or more – Signed copy of the Journal and a VIP invitation to the launch £200 or more – Private View - personal viewing of some of the materials in the Henderson Archive.
- 6. Hamish Henderson Archives Raised £4,670 (£2,670 over their target) with 128 donations. donations On average people donated £36 each. each
- 8. What is Crowdfunding? Let the projects explain… Help us grow into New Designers
- 9. Help us Grow into New Designers • The New Designers campaign finished on the 26th April 2012. • They have raised £585 - £85 more then their target • 30 people pledged to support the project. • On average people donated £20.
- 10. What is Crowdfunding? Let the projects explain… Bridport’s Lyric Theatre
- 11. Bridport’s Lyric Theatre • The crowdfunding campaign finished on 10th November 2011. • They raised £8,429.20 – £429.20 more then their target • 82 people pledged donations. • On average people donated £103.
- 17. How does Crowdfunding work? In a Nutshell… 1. Pick the creative project or idea you want funded. 2. Identify how much you need to raise. 3. Pick a Crowdfunding website. 4. Identify your story and your pitch. 5. How will you reward your new funders? 6. Tell everyone you know, and those interested in what you do, about it!
- 25. Look for a host that offers support and advice in developing and communicating your project.
- 26. Find out how long the site will run your campaign
- 27. Check to see if the crowdfunding site charges you for raising funds?
- 28. Make sure you read any guidelines or terms and conditions before launching your project.
- 29. Setting your Funding Target • Core costs of the project • Rewards – what additional costs? • Ask for slightly more • Community commitment • Estimate the average pledge
- 30. Writing your pitch You need to make the idea stick in the minds of potential funders… • Keep it Simple • Make it Unexpected • Create a Concrete idea • Make it Credible • Find the Emotion • Tell a Story Who, What, When, Where and How
- 31. 14 Questions to Answer 1. Who are you? 9. Who will be doing it and what are 2. Who is your target audience? their qualifications? 3. Why do you need money? 10. How will you tell people about it? 4. Why might the funder be interested? 11. How much do you want? 5. What’s the idea? 12. How much have you raised yourself? 6. Why are you the best people to be delivering 13. How will the project be evaluated? this? 14. Who or what will benefit from the 7. Where is the activity taking place? funding of this project? 8. When will it be taking place?
- 32. Creating a Video Creating a Video is Essential for: • Connecting with your funders • Demonstrating trust and value • Being clear and concise • Providing a short and sweet pitch
- 33. Creating a Video What type of video? • Interview’s • Documentary • An animation • Photography Slideshow Pointers • Keep it short and to the point • Clearly relate to the project • Quality of video footage • Editing • Audio • Creativity
- 34. What is a Reward?
- 35. What is a Reward? Let Plum explain…
- 36. Meme • Plum’s crowdfunding campaign ended on October 15th 2011. • She raised £5,040 (101% of her target) • 137 people backed her project. • On average people donated £36.
- 37. What is a Reward? • Your way of saying ‘Thank You’ • Builds support for your future project, cause and/or organisation. • Act as a marketing and promotional tactic. • Must be creative and linked to your campaign.
- 39. £5 or more – A thank you Tweet. £20 or more – A personal thank you and link of your choice on my Hastastic! Facebook page. £30 or more – Entry into raffle to win a bespoke commissioned headpiece. £40 or more – A promotional hat or headpiece made especially for your business event or ad campaign or simply to wear. £50 or more – 30 minute talk on millinery from Chloe for your charitable or social event, plus a unique Hatastic piece. £100 or more – Afternoon for up to 5 people for a headpiece making class with Chloe. £500 or more – Pledge Package: Gratitude on all promotional materials, a handwritten thank you, an exclusive bespoke hat for you or a friend, and a choice of a unique bejewelled piece from the Lost Treasure Collection.
- 40. Why is Crowdfunding relevant to us now? • It is an enterprising solution to raising funds. • It is a new approach which cuts out traditional funding approaches and their requirements. • It enables communities to mobilise around the things they want to see happen; • Communities become investors in their own future. • It mobilises new money when traditional support is less available. • It is a good indicator of the eventual success of your project.
- 41. Telling the World about Your Crowdfunding Project
- 42. Marketing your project Crowdfunding Website Website – friends, partner and supporter websites (Web Release)
- 44. Marketing your project Crowdfunding Website Your Website – friends, partner and supporter websites (Web Release) Your Blog – friends, partner and supporter’s blogs (Blog Release)
- 45. Blogs
- 47. Marketing your project Crowdfunding Website Your Website – friends, partner and supporter websites (Web Release) Your Blog – friends, partner and supporter’s blogs (Blog Release) Your Social Networks – friends, partner and supporter social networks (Share)
- 52. Marketing your project Crowdfunding Website Your Website – friends, partner and supporter websites (Web Release) Your Blog – friends, partner and supporter’s blogs (Blog Release) Your Social Networks – friends, partner and supporter social networks (Share) Community News, Radio, Magazines, Leaflets – local word of mouth (Press Release) National News, Radio, Magazines – national word of mouth (Press Release)
- 53. MSPs, MPs & Councillors
- 54. Marketing your project Crowdfunding Website Your Website – friends, partner and supporter websites (Web Release) Your Blog – friends, partner and supporter’s blogs (Blog Release) Your Social Networks – friends, partner and supporter social networks (Share) Community News, Radio, Magazines, Leaflets – local word of mouth (Press Release) National News, Radio, Magazines – national word of mouth (Press Release) Email Your Database – friends, partner and supporter’s forward emails (Links) eNewsletter – friends, partner and supporter’s newsletters (Links) Mobile SMS – ask them to share their text (Share) Presentations – at your events, activities, when selling (Word of Mouth) Posters, Leaflets, Postcards – For your community or beyond (Promotion) Letters – contact your fans, supporters, volunteers etc personally (Invite) Tell everyone you know! Get them to tell everyone they know!
- 55. Keeping your funders up-to-date • Update your Crowdfunding site • Thank You Cards • Blogging • Social Networking • Personalised Emails • Invitations
- 56. Tips Crowdfunding is not the easy option – any and all fundraising is hard! It helps, but it’s not necessary, to have a pre-existing community of supporters. Be resourceful – It can be hard to incentivise people, capture their imagination. Be clear – Set a completion date for the campaign, clearly define your goals and expectations. Be Informative – Offer as much information about your project as you can.
- 58. Pitfalls Projects fail if… • You don’t express clearly the nature of your project. • Additional information is hard to come across. • You don’t tell anyone about it. • There is a lack of communication between yourself and your new funders. • You don’t follow up on rewards. • Your project doesn’t fit with the parameters of the Crowdfunding site you choose. • You choose not to produce a video. • You forget to build and nurture your online and offline community around your project. • You promise what you can’t deliver. • You focus on the negative.
- 59. FAQs • How long does a campaign last? • What happens when my project reaches its target funding? • How will I be able to contact my funders? • What happens if I don’t meet my target? • What happens if I reach my funding target before the end of the campaign? • Can I pledge to my own project? • Will the Crowdfunding site take a cut? • How do supporters collect their rewards?
- 61. Your First Steps towards Crowdfunding • The project idea • Delivery dates • Costs to deliver • Crowdfunding Target • What would Crowdfunding support • The benefits of the project • Crowdfunding video • Rewards • Potential donors • Marketing tactics • Keeping funders up-to-date
Editor's Notes
- The Orchestra of the Age of Enlightenment finished their WeDidThis campaign on the 23 rd of October 2011. They raised £1,255 (£55 over their target) with 58 donations.
- The crowdfunding campaign finished on 13 th July 2011. They raised £610 – their target figure 13 people pledged donations. On average people donated £45.
- James Urquart set off in June 2011, as an independent film maker and science journalist, from the SE of Scotland and began his journey to climb the 283 Munroes of Scotland. He documented the journey himself, capturing the dramatic landscapes and people he met along the way. He hopes to be able to turn the 100 hours of footage he captured into a feature documentary film. This is James’s second CF project, which he used to help finance the costs of film equipment. Now he needs help to fund the next stage, which includes, editing, postproduction costs, music licensing, distribution and marketing costs and festival fees to promote the film.
- DigVentures is your chance to work with some of the best archaeologists in the land on one of the most important archaeological sites in the world. Join us and share the excitement of discovery as it happens, knowing that without your support, it wouldn’t have happened. The Project DigVentures Ltd will be excavating the iconic Bronze Age site of Flag Fen , where extensive drainage and climate change threaten to destroy the world-renowned archaeology forever. Our work will be an essential part of saving the archaeology and giving the site a future life, and all we need to do is to raise £25,000 to make this incredible project happen. You and your friends can be a part of it – by supporting us through buying benefits, and even joining us on site. The more you contribute, the more involved you can become – from being one of the first to receive the site report, to rolling up your sleeves and actually taking part. As soon as you support the project at any level, you will receive access to the Site Hut , an online forum providing exclusive daily project updates, interviews, lectures with archaeological superstars, films, photos - or just pop in for a nice cup of tea! We’ll be filming on site every day, and posting all sorts of fabulous information to keep you up to date. If you can’t join us in the field, we’d love a crew of armchair archaeologists out there following our every move. The field school at Flag Fen (for those who purchase a benefit at £125 and above) will be really exciting this year. We’ve put a lot of thinking into making this the best experience possible, whether you are digging for a day, a week, two weeks, or the whole project. There will be dedicated staff providing orientation, training and instruction, as well as evening lectures, fun outings and plenty of time for questions. And some surprises, of course! Places in the field school (from 23rd July – 12th August 2012) are limited and will be available on a first-come, first-served basis, and are only for those aged 17 and older. What do I do? Pick a benefit level and purchase! Tell your friends and everyone you know, and ask them to get involved too. You can also purchase benefits as a gift for someone else: don’t we all know someone who has a bit of a geeky fascination with archaeology? Send them our way! The more people who get involved, the more work we can do. And this year isn’t the end – the site is drying out fast, and we need to keep the work going. Planning for the 2013 season is already underway… What happens after I have bought a benefit? First things first, you will receive an email from us acknowledging your purchase and welcoming you to the DigVentures team. Immediately after the funding window closes at the end of April, we will open the Site Hut and ship all physical merchandise such as pins, tee-shirts and other items. Some of the benefits won’t be possible until we’re actually digging, so please bear with us! if you have purchased a benefit to join us on the dig, we will contact you right away to arrange a date, as places are limited and dates will be available on a first-come, first served basis. Did we mention the party? The End of Site party, of course! Every good site has a great party to celebrate the end of a successful season, and we’re no exception. Everyone who funds us will be invited to the DigVentures End of Site Party, where you will see a presentation on the season’s results, catch up on project news, mingle with the archaeologists, and get to meet everyone who joined us on site. And there’s bound to be some dancing too… How do I get in touch with the DigVentures team? We’re here for you! All emails sent to info@digventures.com will be read and replied to by one of the team. We have a website which explains much much more - http://digventures.com/ - We’re also on Twitter (@TheDigVenturers), Facebook and Skype (dig.ventures).
- http://pleasefund.us/projects/the-arts-barge-project The Arts Barge Project is... A large and growing collective of musicians, artists and performers who want to buy a dutch barge to become a unique, river-based venue in York. We've been working successfully since 2008 putting on large, medium and small-scale collaborative events which get professionals and amateurs from loads of different genres and backgrounds to work together as well as mentoring young musicians and kick-starting our own in-house amateur band. This year we're focussing our For Love and Money fundraising campaign on buying the barge itself. Why a barge? We have no arts centre (it closed down in 1998) and no affordable 'built' space in the city to rent as a community venue. As well as that, York's river is very underused despite a thriving river-community just out of the city centre. A barge is an ideal way to create a community space at a fraction of the cost of a building - we've already been offered a prime, city centre mooring in a great location for our project to start up. "We're gonna need a bigger boat" We rented a barge in 2011 and put on a programme of day-in, day-out entertainment - music, comedy, cabaret, open mic, new works - plays, songs and artwork - and we also had a cafe bar selling local produce and great locally brewed beers - the run was a sell-out success. As well as that, we regularly do local festivals and 'pop-up' tours, we've got our own in-house professional band as well as our amateur Bargestra! and we're right at the centre of new creative initiatives in York. We're particularly into big collaborations - we love mixing it up in terms of genres and styles. We're supported by the local council and local businesses and there's a lot of public support for the project. Based on the success of our trial run we decided to buy our own barge a year earlier than originally planned. What will your money buy? Simple. A barge. Okay, so it'll need some work but the idea is that we buy a sound 'hull' for around £5K which the community will work on alongside professional boat fitters. We've already raised over £6K ourselves and this money will be used to get the barge moved to a dry dock and undergo survey and initial works. We've been approached by a documentary maker who wants to follow the progress of the purchase and fit-out and we've identified the barge we want to buy - it'll hopefully be available for survey in late March and then for purchase some time in April. The process of fitting out the barge through to getting her moored safely is likely to cost around £70K (depending on whether we decide to go for one deck or two) and we're aiming to raise this through a combination of public funding, private sponsorship and our own fund-raising efforts. Our ambition is to launch the barge in summer 2013. What if you buy the barge and then can't raise the money to fix her up in time? It is a highly ambitious plan for the next 12 months but we know it's possible. Our estimate of £70K+ is what would be needed to make a 'state of the art' venue but we'll cut our cloth according to what we raise over the next year. We've got an established fund-raising track record of our own which we will be using alongside all our other efforts. If necessary we can do a basic fit-out and then improve the interior at a later date. We can also leave the barge as a single-decker until further funds are available to add another level. The main priority is to buy a suitable hull - we're confident that once we've done that and made our 'virtual' barge a reality, raising money for the next phase will be significantly more achievable. Check out our website here: www.theartsbargeproject.com
- http://www.crowdfunder.co.uk/investment/red-hot-metal-artist-blacksmith-equipment-needed-to-make-metal-art-631
- Started in America, this is the first official Crowdfunding site to emerge. Designed for American projects, this may not be particularly relevant for you to use here in the UK, but does host a vast array of projects for inspiration.
- Crowdfunder will run campaigns for 30, 45, 60 or 90 days. Sponsume will run a campaign for a maximum of 90 days.
- You need to tell people exactly what your budget will be used for. Postage, printing, packaging etc. Ask for slightly more then you think you will need. How many people do you think you could inspire to fund your project How much do you estimate that people will fund on average?
- Simple – focus on the core of the idea Unexpected – you need to grab people’s attention Concrete – make sure the idea can be understood and remembered Credible – is your idea believable Emotional – help people to see the importance of your idea Stories – empower people to use an idea through narrative.
- This is essential to the success of your Crowdfunding project, a visual, audio and creative approach to fundraising will really capture people’s attention and interest. It is also a great way of your funders to share the project with their friends and family, people are much more likely to watch a short video then read text off a website
- Interviews – you, your audience, your participants. Animation – using your creativity and your networks. Photography stills and audio – easy option with big impact.
- Rewards are an essential part of the Crowdfunding campaign. A reward is an offer that you make as a thank you for the individual who supports your project through a donation.
- http://www.sponsume.com/project/meme
- Plum’s crowdfunding campaign ended on October 15 th 2011. She raised £5,040 (101% of her target) 137 people backed her project. On average people donated £36.
- Rewards are an essential part of the Crowdfunding campaign.
- The only way that Crowdfunding work is if you tell people about it.
- Other people’s blogs – connect with blogging media which focus on your community and sites which focus on your area of work.
- Use your social networking platforms – connect with your captured audience as well as make it easy for them to share your content.
- http://www.pleasefund.us/projects/truth-fears-no-questions No content – no funding.
- Projects fail if… You don’t express clearly the nature of your project – you are asking for people’s money to do what exactly? Additional information is hard to come across – you have to create trust between you and your potential funder, don’t forget to assert your credibility. You don’t tell anyone about it – you have to work to get people to commit funding to your project, don’t expect the cash to roll in once you have hit upload! There is a lack of communication between yourself and your new funders – if you don’t communicate with your potential and actual funders, you are only hurting yourself and the project. You don’t follow up on rewards – you don’t want people to think they were conned. Your project doesn’t fit with the parameters of the Crowdfunding site you choose – the sites will attract the right people to donate to the right causes, make sure you read up about the site and look at the projects which have achieved success and those which haven’t. You choose not to produce a video – if it is not your talent then find someone within your community who can, directly communicating what you are doing and the reason why peope should give their money to you is essential. If you can’t communicate your project visually, maybe Crowdfunding is not for you. You forget to build and nurture your online and offline community around your project – Be creative in the ways that you reach out to your audeinces. You promise what you can’t deliver – that will be your reputation over. You focus on the negative – we are all facing hard times particularly the public sector, so people don’t want to hear you moan about not getting funding from the Arts Council etc, rather they want to invest in positive ideas and support something great.
- Your first steps towards Crowdfunding. Follow these steps to create your first Crowdfunding project.
- Your first steps towards Crowdfunding. Follow these steps to create your first Crowdfunding project.