Social Media andCrowdfundingPaul Dombowsky – Kelly Rusk – Keenan Wellar

Time: 8:30 to 11:00

Speakers: Paul DombowskyFounder and ceo of Ideavibes / Fundchange

Kelly Rusk - Thornley Fallis

Keenan Wellar - LiveWorkPlay

Shannon Gorman - TELUS

Workshop Overview

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8:35 Introductions

8:50 Kelly Rusk - Social Media Primer

9:30 Crowdfunding - Paul DombowskyWhat is it and how can you use it?Options for engaging a new generation of donorsProject based or ‘doable ask’ focused fundraising

10:00 Fundchange.com – What is it and how can you participate?

10:20 Keenan Wellar – Live Work Play

10:40 General Questions and Wrap-up

Agenda

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• A crowd

• Business challenge / problem / question you want answered – ideas

• A process and tool for engagement

• Trust and commitment in your crowd to take action

• Key performance indicators – what does success look like?

• Proof of action – your crowd wants to see what happened

Crowdfunding - What do you need?

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Donor Generations

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Millennials (born ’91 and after) - ?

Gen Y (born ’81-’91) – Average Donation $325

Gen X (born ’65-’80) – Average Donation $549

Boomers (born ’46-’64) – Average Donation $725

Civics (born ’45 or earlier) – Average Donation $833

Where Donors are Giving

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Checkout DonationFundraising Event

Tribute GiftCharity Gift Shop

Online via WebsiteMailed Gift

Monthly DebitIn Lieu of Gift

PhoneThird Party Vendor

SMSSocial Network Site

0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0%

“Fundraising Trends and Challenges in the Canadian Direct Marketing Sector”- a research paper from 2009 by Cornerstone Group of Companies shows:

• Donors who make their first gift to an organization online as opposed to via direct mail have a much higher average gift

$73 vs. $30

• There are now more than 4 times the number of new donors, per organization, from online initiatives than 5 years ago (9M to 40M).”

Online Giving

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Who is your crowd?

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Donors

Prospects

Event Attendees

Mailing Lists

Donors’ Network

Prospects’ Network

Event Attendees’ Network

Mailing List’s Network

The crowd you know The crowd you don’t know

Social Media Makes the Connection

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Projects or Doable Asks

• Easier for most people to wrap their head around a smaller project as opposed to a ‘cure’ or a ‘hospital wing’

• Examples:• Piece of medical equipment• Stream revitalization• Education program• Conference attendance• Sports equipment for a couple kids

PostPromoteShareSearch/FilterFundReceiptReport

Costs:$99 + hst to join

includes 2 postings3.9% processing fee

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Examples: Fundchange

PostPromoteFundReport

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Examples: Crowdrise (US only)

• It’s social – the crowd promotes projects it likes• It’s social – the crowd won’t promote projects that aren’t

shareable• Success comes to those that actively build a crowd • A challenge for organizations new to social media

• It’s the free market at work• It’s the free market at work

• Build stickiness to the project• Need to pay attention to write-up to inspire funders

Benefits & Challenges

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Things to keep in mind: • Crowdfunding success comes quickest to organizations that are social –

media-aware and engaged. If your organization is not yet social media-enabled, it will take time and human and financial resources to do so.

• Because your efforts are only as good as the crowd you are able to mobilize to your cause, it makes sense that your organization strategically manages and promotes its brand online.

• Make sure your target audience is online and will give online• If you opt to post your projects on established crowdfunding sites, do your

homework – be careful of the company you keep.

Integrating Crowdfunding into Your Organization

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• Donor stats, etc. came from “The Next Generation of Canadian Giving” – Nov. 2010 – by Vinay Bhagat, et al

• “The Wisdom of Crowds” – book by James Surowiecki• “Crowdsourcing” – book by Jeff Howe• “Fundraising Trends and Challenges in the Canadian Direct

Marketing Sector”, a research paper released in 2009 by Cornerstone Group of Companies

Resoruces

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Thank you

Paul Dombowsky | 613.878.1681 | paul@ideavibes.com