Material Remains as Source of Ancient Indian History & Culture.ppt
Crowdfunding and Social Media
1. consulting – strategy - research
social media at work
Crowdfunding Workshop
28/6/11
IA Centre, Skypark, Glasgow
twintangibles 2011
Contact us +44(0)7717714595 www.twintangibles.co.uk
info@twintangibles.co.uk
5. The Long Tail
"We sold more books today that didn't sell at all
yesterday than we sold today of all the books that
did sell yesterday."
Josh Peterson - Amazon
Popularity
Products
6. What is Crowdfunding?
“The collective cooperation, attention and trust
by people who network and pool their money
and other resources together, usually via the
internet to support efforts initiated by other
people or organizations.”
7. 3 Crowdfunding Models
• Reward based Crowdfunding
• Equity based Crowdfunding
• Microfinance Lending (P2P-lending)
8. 2 Further Flavours
• ll or nothing
A
Meet your target or you receive nothing
• eep it all
K
Retain any funding generated regardless of target
9. Decide on
Collect Project and
Funds Target
Target, Decide
Launch, Rewards
Promote and
Duration
Choose
Platform
and
SM
tools
10. Collect Select
Reward Project
Purchase
Target
your
Met
Reward
Promote
The
Project
11. • Key characteristics
o Microfinance – low barriers, larger tribe
o Rewards – its not just equity
o Targets – Defined goals
o Time limited – Defined end point
o Viral promotion – Incentive to spread the word
o Project based – Rarely operating costs
12. Where is it used?
• Charities
• Creatives
• VC’s
• Entrepreneurs
• Micro lending
• Campaigning
14. Example 2
• 10% Firms
Equity
• £230 per share
• 1300 investors
• 20% off in the
shop!
• No platform
• irst time any company in Europe had attempted
F
to raise money via an online share offering
• ignificant expense in setting up project
S
• E helped them with part of the costs
S
16. Why use a Platform?
• Turnkey solution
• Meeting place for investors/donors
• Inbuilt community
• Reduce transaction cost
• Social Media Integrated
• Reduces legislative complexity
17. Characteristics
• Sector specific: creative, entrepreneurial,
community…
• Country limitations
• Traffic
• Min./Max. total of contribution
• Service and/or payment Fee
• Rewards/Perks: set by platform/project holder
• Time limit
25. Project Example 3:
TikToc LunaTik
$15,000 Goal
Average donation $70
6 Reward Categories
26. Some Numbers
• Kickstarter
– About 43% of initiatives are successfully funded.
– In the two years since Kickstarter's launch, close to
592,000 people have helped to back more than 7,500
successful projects
• Kiva
– has collected $211 million for worldwide projects.
– Nearly 550,000 entrepreneurs have received loans.
– The repayment rate is 99%.
28. Keys for Success
• Be Social Media ready
• Check how Social Media ready your audience is
• Set an achievable target
• Create a powerful pitch
• Reward people
• Spread the word
• Say thank you
• Be Human = Be Social
29. Keys to Success
• Have a strategy – You need a plan
• Select your project carefully – It must be realistic & achievable
• Identify your target audience/s
• Select your platform carefully
• Develop your rewards – More is better, be creative
• Create your pitch – Stories, passion & video
• Select your channels – They vary
• Develop a publishing plan – What resources can you draw on
• Define the resource required – Who will do this, & when. A team?
• Set a time frame – Even if the platform is open time give your self one
• Engage – Listen, nurture, converse, respond
• Give your funders privileged access to information
• Promote – Don’t assume that people know
• Keep updating
• Honour your promises
• Say thank you!