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Posts Tagged ‘crowdfunding’

When we started Fundchange, we were focused on getting things right from a process perspective–making sure the platform we built this initiative on was the best possible for both the non-profits and the donors. The goal was to provide a way for donors to find the projects that spoke to them and give them an easy to use interface to make this happen.

We have learned a great deal over the past few months and have made incremental improvements to the platform (ie. adding Facebook integration, etc.) and supported our members so they are successful.

We have a long way to go but given the overwhelming response from our latest outreach – we are making progress.

– Paul Dombowsky, CEO

Fundchange would like to welcome the following organizations as they embark on their crowdfunding journeys:

Stay in the Know

Like us on Facebook to receive quick updates from Fundchange,

Follow us on Twitter so we can give your organization shout outs and retweets.

Subscribe to our blog to receive detailed information about Fundchange and helpful articles on crowdfunding straight to your inbox.

Welcome aboard!

Cynthia

p.s. If you have any questions, feel free to contact the Fundchange team.

community@fundchange.com

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This blog post is intended to help you craft your message. If you find this helpful, please tweet it, Facebook it, re-blog it, and comment on it. Okay, I’ll get on with the how to!

 How do readers read on the web? The answer – they don’t.
- Jakob Nielsen, web content guru

I bet you won’t read this entire blog post. You’ll skim, looking for specific information and stopping at words that catch your eye. That’s how the majority of people–especially Gen Ys–read on the internet. Keep this in mind. Oh, you have 20 seconds to get someone’s attention and compel them to take action. Can you do it? Of course you can!

The Project

  • Choose a project that is easy to understand.

It is very important that people “get it” right away. People viewing your project are unfamiliar with your organization and what you do.

Writing the Intro

(this appears on the Fundchange homepage)

1. Give it a catchy title.

2. Write a brief but interesting summary. Include a call to action.

This is viewed on our homepage and may be your only chance to catch someone’s attention. Make it count.

Here are a few ideas to make the summary interesting:

  • tell people something they don’t know
  • ask a question (word it so that there is not a ‘no’ answer) and reveal the answer when they click the project

Writing the Project Pitch

Image from Adam Westbrook

1. Use simple words.

Do not use jargon. Use words that are shorter and familiar; they are easier to understand. Write as if you are writing to a grade 8.

Ever been to a gourmet restaurant where you order a burger and fries because you can’t understand what on earth the other items are–no matter how amazing they may be? Your project is amazing and really important, but if no one can understand it, they won’t support it.

2. Write in short sentences.

Aim for 17 words. That’s what the professionals say is easiest for humans to read. Keep your paragraphs to a few lines. Anything longer is not likely to be read online.

3. Include a call to action in the first paragraph and at least more time.

What do you want people to do? Donate. Like. Tweet. Vote. You’ve got to tell people how to make a difference.

4. Tell a story.

People can relate to stories, especially stories of other people. They are easy to follow and interesting to read. Stories are a wonderful way to evoke emotion–a major motivation for giving.

Prove that the project is urgently needed, what the project will solve, and what will happen without the project. Turn the reader into a hero.

 5.   Suggest an amount to give (and a reason to give that amount). Tie it into the story. 

For example, $25 will build a little girl’s self-esteem so she doesn’t grow up hating herself. (current problem: no self-esteem, future problem: self-hatred, solution: give $25 to build self-esteem and prevent future problem)

6. Give a P.S. a try.

It works in direct mail and people tend to read the p.s. before the body.

7. Include pictures and video.

Project pitches that include a video are more likely to receive funding than those without. It’s a great way to tell your story.

You can’t just ask someone to give based on stats and the nonprofit’s mission. Instead, show people why you care, why it is important to you, and why you believe they should care. How has this issue impacted your life? As a nonprofit find a person to tell this story as opposed to communicating from the ivory tower. Geoff Livingston

Things to Remember

  • Keep it Simple.
  • Use numbers instead of percentages. Its easier to visualize 1 in 4 than it is to picture 25%.
  • Make it relatable.
  • Establish the credibility of your organization. People need to trust you before they give you money.
  • Prove the project is needed. What is life like without this project?
  • Give people hope!
  • Tell a story.
  • Use emotion.
  • Let your passion shine through so that other people feel inspired.
  • Include calls to action. 
  • Say Thank You–always thank people.

Cynthia

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From July 18th to August 17th, 2011 FundChange is hosting an awesome challenge that could result in one organization getting an extra $5,000!!

These organizations have taken advantage of the Challenge:

 

‘NSTEP

‘NSTEP EAT WALK LIVE in Calgary School Communities

 

 

Fashion Takes Action

Launch the Next Sustainable Fashion Star! Design Forward 2011

 

 

Aspen Family and Community Network Society

Youth Transitions to Adulthood

 

 

The Otesha Project

Fund the Next Generation of Change-Makers

  

LiveWorkPlay

Strengthening Family: A Feast For The Senses, A Feast For The Soul

 

 

MESH

MentorMatch – Fund stronger communities through mentoring

 

FitSpirit

FitClub

 

The Ottawa School of Speech & Drama

Red Kite, Blue Sky: Theatre for Autistic children

 

 

New Hope Community Services Society

Fund a Kitchen Reno for New Canadians

 

Dress for Success Ottawa

Help economically disadvantaged women find SUCCESS!

It’s not too late to join and add your new project. Contact paul@fundchange.com if you are interested in joining Fundchange.

This is how the Summer Challenge works:

Running for one month, and open to new and existing FundChange members,
TELUS is awarding up to $5,000 in matching funds to the new project posted and funded that has the most Facebook “Likes” on Fundchange.com. Projects can be posted anytime now to qualify.

Rules of Engagement

In order for this challenge to be fair:

  1. Projects have to be new to FundChange as of July 13th, 2011
  2. Projects must be funded by at least 10 funders
  3. Projects must be active for the length of the campaign, unless it receives full funding before August 17th
  4. You have to be a FundChange member to participate. New members can sign-up here: www.fundchange.com/membership.php

So, all you have to do to get up to $5,000 is:

  • Post a project
  • Get 100% funded
  • Get the most Facebook “Likes” on Fundchange.com

Good luck and happy crowdfunding!

Cynthia

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and what you can learn from that.

Scrolling through my Sparks on Google+, I came across CauseVox’s blog post. They list the top three take-aways about crowdfunding from Chicago TechWeek. I think they are really useful, so here they are: 

1. For the majority of crowdfunding campaigns, you will be relying on people in the 2nd and 3rd degree to pledge or donate to you. There are outliers that happen that get major press and media, but those are very rare.

This fact reaffirms my hypothesis that crowdfunding is extremely useful for donor acquisition. Your 2nd and 3rd degree connections are not already donors, but your crowdfunding campaign converts them.

How to do you reach these people?

You do this by reaching out to your inner circle (current supporters) to kick off the campaign. A study on the geography of crowdfunding (Agrawal, Ajay, Christian Catalini, Avi Goldfarb. The Geography of Crowdfunding. University of Toronto. January 6, 2010.) reveals that the first round of funding almost always comes from local funders.  Local funders are those people who have an established relationship with the organization. They are your current donors, friends, family, alumni, service users, members, staff, volunteers, and board members.

2. Money doesn’t magically flow to you when you put up a crowdfunding page. You have to work hard to get people’s attention and you have to tell a compelling story that gets people to fund you.

You know that just because you have a Twitter ID doesn’t mean you will automatically get 1000s of followers. You have to give people a reason to follow you. With crowdfunding, just because you post a project doesn’t mean people will give to it. First, people need to know you exist. Promote your project (for the entire duration of the campaign)!  Second, give them  a reason to give with a compelling project posting. Perhaps this order should be reversed, but you get the point.

3. Email is by far the best way to convert people to donations. Social media is a good for awareness building.

There isn’t too much to add to this point: send an eAppeal and make sure you have share functions so that your 1st connections can send it on to their networks.You can use social media to spread the word and build your list. Then send people an email.

And please remember, you are not trying to “convert people to donations.” You are the machine through which we fulfil our need to change the world.

Cynthia

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