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Crowdfunding – A Hot New Opportunity
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Transcript of Crowdfunding – A Hot New Opportunity
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What is Crowdfunding
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How crowdfunding started
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1885
When was the first reward based
crowdfunding project launched?
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Seriously?
• The statue was a diplomaAc giB to the US. However, the US had been unable to raise $250,000 for a granite plinth for the statue.
• A group called the American CommiKee of the Statue of Liberty was tasked with raising the money but fell short by more than a third.
• BalAmore, Boston, San Francisco and Philadelphia offered to pay for the pedestal in return for the statue's relocaAon
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What to do? • New York had run out of opAons. • They were $100K short • Pulitzer decided to launch a fundraising campaign in his newspaper The New York World.
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So what’s new?
• Internet – increased reach • Social – easy to share • Mobile – at your fingerAps • Ease of use – no technical barriers • Economy – shortage of funding • Startups – support new innovaAon • Increased need for charity • Healthcare – treatment expensive
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Four Crowd Funding Models
• DonaAons
• Rewards
• Equity
• Lending
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DonaAons
• Backers contribute very small amounts of money, typically < $25
• No expectaAon of a return • Acknowledgment of contribuAon to a worthy cause • Donors oBen receive a thank you in a program or liner notes
• Beneficiaries: TradiAonal chariAes • Market may be worth more than $500 million in 2013
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Rewards
• Businesses and non-‐profits of all sized post projects • Target a certain amount capital to raise • Presales tool • MarkeAng iniAAve • Some type of incenAve for parAcipaAng • Types of rewards: T-‐shirts, giB cards or products manufactured by the “crowdfundees”
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Equity
• Significant increase in popularity since the passing of the Jobs Act (the US)
• Small, private companies or entrepreneurs can raise Series A capital or seed funding
• Avoid personal debt in order to fund a project
• Investors receive actual stock from the company
• An incredible tool for small startups -‐ a combinaAon of markeAng and fundraising.
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Lending
• Borrowers choose a loan amount, purpose and post a loan lisAng.
• Investors review loan lisAngs and invest in lisAngs that meet their criteria.
• Once the process is complete, borrowers make fixed monthly payments and investors receive a porAon of those payments directly to their Prosper account.
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Pros
• Raise Money
• Raise a producer's profile and provide a boost to their reputaAon
• MarkeAng and customer validaAon & feedback
• Audience engagement in producAon process, sharing feedback via comment features
• Good place to test the market
• Increase the likelihood of venture success
• Retain control of their operaAons, as voAng rights are not conveyed along with ownership
• Performance based payment
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Cons
• ReputaAon at stake – failure to meet campaign goals may impact the future funding opportuniAes
• Unable to deliver on a project can severely impact one's reputaAon
• IP protecAon
• Donor exhausAon
• Public fear of abuse or scam may become a barrier to public engagement.
• Managing communicaAons can be a diverAng task
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Best PracAces • Don't rush into your campaign • Put a lot of thought and research into your funding goal
• Give your investors different levels on which to contribute.
• Include a video in your pitch • Have money already commiKed before you go to the crowd
• Be acAve online. Really acAve. • Find and reach out to an audience that cares • Be relevant!
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#1 BIGGEST CHALLENGE Lack of exposure
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Biggest Myth
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EvoluAon
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Biggest Concerns
FRAUD
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Planorm features • Run campaigns enArely on your own website, on the
network or distribute your own content. • Integrated social media tools • Run mulAple campaigns under one account • Offer rewards or incenAves • “Keep All” campaigns or “All or Nothing” campaigns • Fraud management tools • Real-‐Ame tax receipAng • Performance-‐based cost • Detailed analyAcs • Over $52M raised on the planorm
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Target VerAcals • Arts, Crea*ve & Fashion: fundraising for film, music,
wriAng, design, dance and other creaAve projects. • Business & Entrepreneurial: fundraising for small business,
start ups, ideas or projects. • Community & Volunteering: fundraising for community
groups, volunteers and projects. • Educa*on & Schools: fundraising for books, classes,
equipment, groups or other learning needs. • Non-‐Profits & Charity: fundraising for projects, events,
causes or programs. • Sports & Events: fundraising for athletes and teams for
travel, training, tournaments or equipment, concerts, fesAvals and other special events in the community
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Our Approach
Fuellocal.com
Curated content Promoted content
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The opportunity
• MoneAze current organizaAons that we currently promote for FREE.
• IntegraAon of content through editorial, website secAons and in print.
• CreaAon of special secAons. • Partnering with local incubators, BIA’s, local development councils.
• PromoAon of local success stories. • Develop local corporate social responsibility sponsorship program with adverAsers through rewards and ads.
• InnovaAon for NaAonal AdverAsers
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Fees
• Planorm only – 7% • Planorm plus PromoAon – 15% • Up sell – Paid promoAon, special secAon etc
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Examples
Ardglen Fire
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Summary
• It is sAll early days and lots to learn. • Connected to the community. • Trusted brand and local voice. • Ability to promote select campaigns in print and online. • Use crowdfunding as a tool for other revenue. • Create good content. • We have the secret sauce. • Daily deal mentality.