Crowdfunding


‘Rewards are a great way of increasing


the amount of money a supporter will pledge as well as a great way to generate excitement around your project. Offer rewards that you would want to receive’


Use a spokesperson, such as the Headteacher, whose passion for the success of the project will engage potential donors. Headings: Use snappy subheadings to separate each section. Diagrams/maps: Use clear diagrams or maps to add context to your project.


How to...


FundEd subscribers can read our expert


guide ‘How to Create a Big-Impact Video’ at funded.org.uk/ crowdfunding.


Creating a video It’s becoming more and more important for organisations to use video to connect with their crowd. Stay ahead of the curve and create something bespoke for your crowdfunding project. It doesn’t have to be professionally made, but it’s always worth sending out a communication to parents to see if anyone in your school community has video-making skills. Short and sweet: Less is more when it comes to video. Keep it short – around two to three minutes is ideal. Make sure you get the key information into the first 30 seconds – who, what, why, how? Script: Write a script that gets to the point, strikes the right tone and builds the idea of sharing your campaign link early. Storyboard: Plan a storyboard (you can download a template from funded.org.uk), making a visual representation of shots to accompany your script. Filming: Always shoot in landscape format and use the highest quality settings that your camera offers. If possible, use a tripod and an external microphone. Edit your film: Avoid terrible transitions! And be mindful of copyright if adding background music. Follow your schools branding and marketing guidelines.


26 AUTUMN 2018 FundEd


Giving rewards On Crowdfunder you can offer rewards in return for pledges, as well as simply collecting donations. Rewards are a great way to increase the amount of money a supporter will pledge as well as a great way to generate excitement around your project. Think about the kind of people who will be making pledges and offer rewards that


you would want to receive. Consider the four main types of reward that you can offer: a simple thank you, products and services, experiences and events, and sponsorship.


Setting your target Your crowdfunding target needs to be a balance between what you need to raise to make your project happen and what you think you can raise from your crowd. Be realistic – remember that you can always raise more and stretch your target to a bigger number once you hit 100%. Calculate the minimum amount of money you need to deliver your project and fulfil your rewards. Don’t forget that if your project is


successful, there will usually be a platform fee that you’ll need to account for. You should also bear in mind that the average pledge on Crowdfunder is £50 and, on average, one in 20 people who view a project page will make a pledge.


Rewards advice


FundEd subscribers


can read ‘The Rewards Guide’ at funded.org. uk/crowdfunding.


Choosing your project duration Your campaign can last anywhere from one day to eight weeks, but more time doesn’t necessarily


mean you’ll raise more money. Four to five weeks is the ideal length.


Going for a short and sharp campaign means you can get your


6 TOP TIPS FOR REWARDS 1


2


Rewards should always be good value for money. Offer exclusive ‘behind the


scenes’ experiences, tickets to events, masterclasses or special editions – things that aren’t available anywhere else.


Including some limited rewards is a fantastic way to secure early support


for your campaign, and having just a small number available is a good way to get your target audience motivated.


3


Offer authentic mementoes or opportunities to leave a legacy in some


way. For example, local businesses may be interested in receiving recognition in the form of a plaque outside a new DT block.


are made.


4 5


Spread your rewards evenly across different price points from £10 to £100


and include some sort of sponsorship at the top end to attract support from businesses or large organisations.


6


Don’t just stick to numbers that end in zeros – odd numbers imply that your rewards have been thoughtfully costed.


crowd excited and maintain a sense of urgency. Longer campaigns can start to lose steam after a while and might actually end up becoming annoyingly repetitive. When picking your launch date,


be aware of the calendar and factor in any events that might slow down or promote your campaign. When choosing what time of the day to launch, keep in mind that whatever time you launch the project, it will end at the same time of day, so choose a time that will allow you to have a big push at the end.


Have a few rewards priced at around £20 as this is where a good chunk of pledges


Sami Mauger is Head of Coaching and Project Innovation at Crowdfunder – the UK’s largest rewards-based crowdfunding network. Sami oversees ongoing research and development to help projects become more successful. She also manages the delivery of expert guidance on strategic projects across a variety of channels and formats. For more information, go to crowdfunder.co.uk.


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