My deck from a Social Media Week London event that took place on Tuesday 25th September at Hoxton Apprentice 16 Hoxton Square London.
On the panel discussion were Tom Davies from Seedrs, an online platform for investing seed capital, and Jaques Kotze from Digital Spin whose company has successfully raised capital through Seedrs. Despite our differences we were able to explore best practice in running a successful campaign and what the culture industries and tech industries are learning from one another in achieving their funding goals
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Crowdfunding: Success is sweetest when shared
1. Social Media Week London #SMWLdn
CROWDFUNDING
Success is Sweetest When Shared
@stuiewood
#sweetfund
Thanks to @Seedrs
Thanks to Hoxton Apprentice @Hoxton_app
2. AIMS OF SESSION
ď˘ Raise money but also create advocacy for your
project/brand
ď˘ Develop networks
ď˘ People invest in passion
ď˘ Plan and invest in an excellent campaign
ď˘ Offer unique perks
ď˘ Find the right crowdfunding site for your project
3. ABOUT ME
STUART WOOD MUSIC AT HOXTON WORKS
#sweetfund
@stuiewood
stuartwoodmusic.com
4. TYPES OF CROWDFUNDING
1. Peer to Peer â lending type fund â you pay it back
2.Equity based where you sell shares or parts of shares
to armchair dragons. Regulated by FSA.
@seedrs best UK example
1. The reward model made most famous by Kickstarter
where you offer treats or perks in return for a donation
to help fund your project.
5. NOT ONLY ABOUT RAISING MONEY!
ď˘ Raising awareness about you andâŚ
ď˘ ..Your project
ď˘ Reaching out to INFLUENCERS
ď˘ Expanding online and offline networks
ď˘ ENGAGEMENT
6. âCANâT JUST SET IT AND FORGET IT â ITâS HARD
WORK!â
ď˘ âThis isnât a one off activity. This isnât about getting the
money in the bank and then forgetting about it. Itâs
really important foundation stone in the future of your
businessâ
MichelleRodger
Bloomvc.com
@bloomvc
7. TELL YOUR STORY IN AN UTTERLY COMPELLING WAY
â˘Funders need to understand
â˘Why is it important to you, why it matters
â˘How they can be a part of the journey
â˘The crowd will decide which project they want
to back
8. CAMPAIGNS THAT GET FUNDED:
ď˘ Sell themselves the best
ď˘ Offer the best rewards
ď˘ Communicate the best
Competition is healthy!#SweetFund
9. CASE STUDY â THE MASK OF JOY
A 30 day campaign to raise ÂŁ3K for four costumes for a pop-up show
13. WERQIN IT!
ď˘ You need to be on it every day
ď˘ Respond to people who are commenting
ď˘ Emailing
ď˘ Talk aboutitat events
ď˘ Thank funders on an ongoing basis
ď˘ Keep them involved in the process
19. REWARDS â PERKS â MAKE THEM GOOD!
ď˘ Funders involved initially on an emotional level
ď˘ Making a promise â no money leaves their account
ď˘ They get the rewards once the project has been successful
ď˘ See whoâs backed you - you have their email address.
ď˘ Important to keep in touch with them throughout the project
ď˘ Can be add to your mailchimp if they agree
20. THE BENEFIT OF A SUCCESSFUL CAMPAIGN
ď˘ Testing the market
ď˘ Demonstrate market appetite
ď˘ Public Engagement
ď˘ See your demographic
ď˘ Establishing loyalty early on
ď˘ People sign up to your mailing list
ď˘ They are so keen to use your service that they are
paying you to start your business.
ď˘ Media profile and the opportunity to build brand
ď˘ Building a wider audience
ď˘ Expanding your social media networks
ď˘ Increasing your ability to pre-sell
21. TAKE AWAYS
ď˘ Aim to be oversubscribed.
ď˘ Donât sit back â you need to work hard with community
engagement
ď˘ Warm everyone up before and have an engagement strategy
in place
ď˘ Make sure the rewards have unique offers that you only get
from you.
ď˘ Be honest â you canât hide in social media
ď˘ Donât spam people â Twitter / FB / Linkedin but be careful
ď˘ Donât do anything illegal
ď˘ Embed the project on your blog or anywhere. â this is really
useful
ď˘ Make sure the platforms link to social media
ď˘ Making sure people understand what the concept is
Main points I wanted raise to create some best practice for Crowdfunding.
Composer for media and performance. Studio in Hoxton St
Itâs like the traditional model where you go to some investors, they take some equity in your company - Funding circleKivaEquity based where you sell shares or parts of shares to armchair dragons. They are regulated by the FSA
Going to start with the reward model â which is me â then we will look a little at the Equity based model â Seedrs and hear from Jaques and his company Digital Spin. The real challenge is to reach out beyond friends and family
Encourage and compel people to back you and start your project or business.
Public Engagement â Live Street Theatre â style pop up performances
Let the campaign inform you â let your network be your advocates
Please leave your card or leave your email in the book