Nonprofit Crowdfunding - How to Win Friends and Influence Donors
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Join Rachel Ramjattan, CFRE for her webinar from which you’ll learn why crowdfunding should matter to your organization, and how to plan a successful campaign that raises more money from beginning to end.
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Nonprofit Crowdfunding - How to Win Friends and Influence Donors
- 1. Nonprofit Crowdfunding -‐ How to Win Friends and Influence Donors 1/14/16 1pm Eastern The presentation will begin shortly.
- 2. 3 This presentation is being recorded! The recording and slides will be emailed to you. Please chat in any questions for our guest. We will answer them in the formal Q&A session at the end of the presentation. Follow along on Twitter with #Bloomerang @BloomerangTech. For best audio quality, dial in by phone. (check your email for dial-‐in info from ReadyTalk) Before we get started »
- 4. 3 Our guest presenter » Rachel Ramjattan, CFRE Founder 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
- 6. Hello! Rachel Ramjattan, CFRE Rachel@nonprofitplusteam.com Tweet @RachelNPP Proud business partner of Live Tweet #Bloomerang @RachelNPP @BloomerangTech
- 7. 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
- 8. 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
- 10. • $5.1 Billion crowdfunding raised in 2013 • Crowdfunding revenues grew 60% from 2012 to 2013 and by 70% from 2013 to 2014 • Peer‐to‐peer giving is 23% of all online giving • Average nonprofit campaign raises > $9,000 per campaign By the Numbers Sources: Craig Newmark: Cracking the Crowdfunding Code Network for Good: Digital Giving Index 2014 #Bloomerang @RachelNPP @BloomerangTech
- 12. 1. Large numbers of donors can give small amounts 2. Individuals can support specific projects 3. Provides regular updates and feedback on project progress 4. Platforms’ giving pages optimized to generate donations 5. Leverages existing personal relationships 6. Projects easy to find on social media, email & digital channels 7. Giving levels and rewards motivate people to donate 8. Peer recognition (folks love to show off their philanthropy!) 9. Easy to give via a mobile device Why Crowdfunding Works Source: Bloomerang – 9 Reasons Why Peer‐to‐Peer Fundraising is so Effective https://bloomerang.co/blog/9‐reasons‐why‐nonprofits‐should‐consider‐crowdfunding/
- 13. 1. Project that needs funding 2. People interested in that project 3. Platform that connects the two Crowdfunding Recipe #Bloomerang @RachelNPP @BloomerangTech
- 14. 1. Narrow scope ‐ $10,000 or less, urgent, specific 2. Short and fixed duration ‐ 8 to10 weeks 3. Specific target audience - Ex: Social Media savvy millennials 4. Quantifiable units of impact - Ex: $50 = 1 day of housing for homeless 5. Emotional and personal success stories Ex: Formerly homeless now self-sufficient Ideal Project #Bloomerang @RachelNPP @BloomerangTech
- 15. 1. Capital Campaigns 2. Appeals for general funds 3. Projects that cost $10,000+ 4. Funds for long term projects What Doesn’t Work #Bloomerang @RachelNPP @BloomerangTech
- 16. 1. Individuals ages 24‐35* 2. Current donors, board, & staff 3. Students earning service hours. 4. Beneficiaries 5. People who know someone impacted by issue/cause Interested Supporters *Source: https://www.fundable.com/crowdfunding101/crowdfunding‐statistics #Bloomerang @RachelNPP @BloomerangTech
- 18. Crowdfunding isn’t new, but its popularity has changed the fundraising landscape.
- 19. 1. Access to donor data 2. Fees 3. Payment types 4. Remittance rules 5. Ease of use ‐ branding, automated receipts, personal pages, video, progress updates… 6. Social media integration 7. Tax‐receipting considerations Choosing the Right Technology #Bloomerang @RachelNPP @BloomerangTech
- 21. What percentage of crowdfunding campaigns fail to raise at least 20% of their goal? A) 26% B) 50% C) 81% Quick Poll
- 22. • Crowdfunding campaigns that don’t raise 30% of goal in the first few days are more likely to fail • 81% of crowdfunding campaigns fail to reach 20% of their goal* • Success depends on your ability to market the campaign Avoid Disappointment *Source: Kickstarter Stats 2014 http://www.crowdlifted.com/news/2014/1/crowdfunding‐flops‐kickstarter‐campaign‐failure‐rates‐by‐category# #Bloomerang @RachelNPP @BloomerangTech
- 23. • Determine how you’ll thank donors • Create top notch templates • Use powerful stories, images, and video • Write “How To” documents • Find clients willing to create personal pages • Automate receipts, thank you, notifications • Plan how to include offline donations Do Your Homework #Bloomerang @RachelNPP @BloomerangTech
- 24. • Make sure you can access donor info • Determine how you will add data to your existing donor records • Create segments for participants in your crowdfunding campaign • Test data download process Plan to Retrieve your Data
- 25. • No one wants to go first • Fair weather fans • Bandwagon jumpers • Like to be treated as investors • Know little about you Know Your Crowdfunding Donors #Bloomerang @RachelNPP @BloomerangTech
- 26. 1. They’re not that into you 2. Give because a friend asked 3. Not necessarily interested in cause 4. Want to know the impact of their gift 5. May give again if reminded how they’re connected to your cause 6. High attrition rate Know Your Crowdfunding Donors #Bloomerang @RachelNPP @BloomerangTech
- 27. • Empower your champions • 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
- 28. • Build Momentum • 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
- 29. • Make them feel like heroes! • Thank them – fast • Thank them – often • Thank them - publicly How to Win Friends #Bloomerang @RachelNPP @BloomerangTech
- 30. • Tom Ahern says first‐time donors that receive a personal thank you within 48 hours of making their gift are how many times more likely to make a second gift? a) 2 times b) 4 times c) 8 times Quick Poll #Bloomerang @RachelNPP @BloomerangTech
- 32. 1. #DonorLove Relationships - 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
- 33. 2. Make them feel like insiders - 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
- 34. • Sole Brothers Helping Others • Sole Brothers on Channel 7 News • Children’s Movement of Florida Feature • St. Patrick’s Pre‐School Dream How I’ve Used Crowdfunding #Bloomerang @RachelNPP @BloomerangTech
- 35. • Basics & More Fundraising courses • Deposit a Gift 11‐video series • How to Prepare to Launch a Crowdfunding Campaign • Volunteermatch.com • Slideshare.net (Search for crowdfunding) Resources #Bloomerang @RachelNPP @BloomerangTech
- 36. We’ll show you how to successfully launch (and crush) your crowdfunding campaign. Week One: Advance Prep to Your Best Campaign Ever Week Two: Storytelling, Your Campaign’s ‘Secret Sauce’ Week Three: Marketing and running your campaign Week Four: Follow up for Lasting Success 1. Step‐by‐step guide from setup through donor appreciation 2. Insider tips to market your campaign, energize supporters, & attract new donors 3. Secrets about crowdfunding donors that can make or break you 4. Templates, ‘insider’ secrets, and bonuses 5. Private Facebook group ‐ get advice on your campaign Ready to raise $10,000 or more this year? Join me & one of America’s top 50 fundraisers, Pamela Grow www.nonprofitplusteam.com/bloomerang
- 38. https://bloomerang.co/resources •Nonprofit Wrap-‐Up •Bloomerang TV •Bloomies •Daily blog post •Weekly webinars •Downloadables
- 39. Our next free webinar » Storytelling in 2016 – 5 Things Your Nonprofit Should Do Differently Thursday, January 21st - 1:00pm Eastern Vanessa Chase https://bloomerang.co/resources/webinars