Info From the Vine: Crowdfunding Works!

Crowdfunding is here to stay. The concept is simple- ask for help from the “crowd” to obtain financing for your project or cause in the form of a donation. With some “boots on the ground” support encouraging your followers to visit your online webpage, money starts to flow in.

Does it work? There are a lot of promises made these days about the wonders of the old “Inter-Web” but does this crowdfunding  “walk” equal the “talk”?

Looking at Kickstarter.com statistics the answer is yes! Through May of 2014, over 62,000 projects have funded. Digging into the numbers you can see that over 11% funded for over $1,000,000.  Math tells us that is a lot of big dollar successes. 

Here are examples of 5 successful crowdfunding  campaigns of 2013:

     1.       Smart Watches- The Kreyos Meteor. Goal: $100,000  Actual: $1,500,000

     2.       Cloud-based 3-D Printer- The Buccaneer. Goal: $100,000  Actual: $1,500,000

     3.       Location Devices- The Chipola. Goal: $25,000, Actual: $293,000.

     4.       Photography- The Pixelstick. Goal: $110,000, Actual: $628,000.

     5.       Software- The McCaw. Goal: $75,000, Actual: $275,000.

It’s always better to under-promise and over-deliver and that is exactly what the crowdfunding phenom is doing.

- Mike Prongue
  Campaign Director for the Non Profit SignVine
  michael@signvine.org
  www.signvine.org 

Info From the Vine: Telling Your Story

You've already heard that crowdfunding is the process of raising funds online for your cause, project or idea. My last mini-post to this blog caught your attention and you Googled a few of the crowdfunding sites that I suggested (Last Post).

Now, perhaps you are thinking this concept could work for you. You want to tell your story. How do you do it? The old adage of "a picture is worth a thousand words" is totally true; great images and a compelling video will capture the attention of those visiting your webpage.

Well, everyone 14 years into the 21st Century, probably already knew this, but did you know that not all videos, are alike? Ok, so you knew that too. Here is the point: Just the facts are not good enough, you have to somehow show the donor "WIFM" (what's in it for me)? Why should they care? What is so unique, revolutionary, heartwarming, relevant, mysterious, or socially necessary about you and your crowdfunding cause?

If you can convince the world that your potato salad effort demands a contribution (Potato Salad) or that mega-cool, new design ice cooler (Ice Cooler) should be given $10,000,000 (as it received) then you've done something right in your video. A video does not have to be Pixar quality to be highly effective. A cellphone camera used with an idea and some heartfelt passion may be all that is required.

Have fun, and happy crowdfunding.

- Mike Prongue
  Campaign Director for the Non Profit SignVine
  michael@signvine.org
  www.signvine.org 

 

Info From the Vine: Crowdfunding is Getting Crowded!

There are 2 types of crowdfunding. First is the well-known, donation-based funding.

This type of crowdfunding is what has driven the crowdfunding concept and is where donors contribute funds toward some dollar goal to support a cause or need and may receive products, rewards or recognition in return.

Investment crowdfunding, is the second and newer type of crowdfunding and is where businesses requiring capital sell ownership stakes online in the form of equity or debt. In this crowdfunding scenario, individuals who do fund become owners or shareholders and have the accompanying risk/reward reality.

The crowdfunding world is getting, well, crowded! Specialized services are popping up to provide funding for specific needs.

The top 10 Crowdfunding sites of interest are:

Kickstarter   
Indiegogo
Crowdfunder
Rockethub
Somolend
Appbackr
Angellist
Invested.in
Tilt

Here is a directory of crowdfunding sites for your review:

http://www.crowdsourcing.org/directory

SignVine is a specialized crowdfunding service for the sign industry. Please visit us at www.signvine.org.


- Mike Prongue
  Campaign Director for the Non Profit SignVine
  michael@signvine.org
  www.signvine.org
 844-807-9720 toll free

Info From The Vine: Crowdfunding Helps the Sign Industry

Crowdfunding is the process of raising funds online. It is a new concept for the sign industry and one goal of this blog had been to build a basic knowledge base so the independent sign company will have another tool to help their non-profit customers obtain a message sign for no out-of-pocket costs.

If you consider the power of this crowdsourcing opportunity, even well-funded non-profits can take advantage of an online campaign to raise new funds to keep their current bank balances intact. You don’t have to be a struggling non-profit to create excitement, have fun, and get the crowd revved up to support a cause.

Sign industry crowdfunding is not financing. Its “free money” collected through the SignVine.org website and disbursed to the targeted non-profit. There is no re-payment schedule any more than there is a re-payment schedule for funds collected during the Sunday donation process in church.

Crowdfunding benefits the industry because it helps close sales that otherwise might not be able to fund; it helps the non-profit because they obtain the important message center they need; and it helps the individual sign company within the community as they support a non-profit cause that gives back to the community.

Support Signvine.org, and impartial, non-profit organization that provides a crowdfunding service for the sign industry. Please email with questions or comments to the contact information provided below.

- Mike Prongue
  Campaign Director for the Non Profit SignVine
  michael@signvine.org
  www.signvine.org 

Info from the Vine: Crowdfunding is Fundraising That is Online and Accessible

Trying to raise money used to be an endless slog through inefficiency, tedium, low return for time invested and exhaustive routines of calling and mailing for churches and other non-profit organizations.  How many bake sales can a church do, how many cookies can be sold door to door, and who wants to be known as the organization that packs extra pounds onto their supporters with doughnut sales? 

Not unlike Facebook replaced individual emails to family and friends with one post to the timeline, crowdfunding makes fundraising significantly easier with information that is consolidated onto one webpage.  The role of the organization is to direct donors to the webpage where they can review the facts, watch a video, see who has already supported the effort with their donation, and then place their own donation if they so desire.

No knocking on doors in problematic neighborhoods, no more going to the store to buy sugar and flour to make doughnuts, and no need to ever roll pennies or count nickels again. The webpage is a 24-hour a day, 7-day a week ambassador for the cause, telling a consistent story and sharing the value of the campaign.

Hallelujah for technology!

- Mike Prongue
  Campaign Director for the Non Profit SignVine
  michael@signvine.org
  www.signvine.org 

 

 

Info From the Vine: Checkout an Awesome Kickstarter Campaign!

Crowdfunding is the process of raising funds online for a project, person, or other concern.

Crowdfunding  delivers results every day. One of the most established and successful online crowdfunding platforms to be found is Kickstarter.com.

Here is a fun, actual, active, Kickstarter.com campaign that has been highly successful:

https://www.kickstarter.com/projects/ryangrepper/coolest-cooler-21st-century-cooler-thats-actually?ref=home_popular

The old-school picnic cooler is about to get a modern-day facelift, complete with an 18 volt power supply a blender and a USB connection. This campaign has raised $8,500,000 against a goal of only $50,000.  That is the power of the Internet and good people trying to help a cause and participate.

Many people overly complicate the crowdfunding process. It is simply a way to “pass the hat” online, ask for support and donations by fully explaining the cause or the idea. 

Peruse the Kickstarter.com website to grasp the power of crowdfunding. It’s a simple, yet amazing process.

- Mike Prongue
  Campaign Director for the Non Profit SignVine
  michael@signvine.org
  www.signvine.org 

 

Info From the Vine: When Everyone Gives a Little, Big Things Happen

Our first blog post defined crowdfunding as “the process of raising funds online for a project, person, or other concern that is of interest to a large number of people.”

The key to success in any business venture, not just crowdfunding, is the multiplier effect of many people or transactions. Attracting substantial visitors to a website, people visiting the webpage specific to the campaign, is the key. Online promotion, social media involvement, advertisement, “preaching to the congregation”, and involving local businesses are all methods to drive visitors to the webpage of interest. Then math takes over. 

If you can interest a large audience, even with small donations, big things can happen. The only choice is a small group with large donations, or a large group with small donations? Obviously the optimal scenario is a healthy mix of large and small donations but more people are willing to donate just a small amount. Every dollar gets the campaign closer to their goal!

You’ve heard the old adage “if everyone just gave a dollar”! Many old adages come into existence because they are true. And so it is when everyone gives a little- big things happen!

- Mike Prongue
  Campaign Director for the Non Profit SignVine
  michael@signvine.org
  www.signvine.org