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Crowdfunding: An introduction Hayley Murphy, Grants & Fundraising Manager The Prince’s Regeneration Trust
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Crowdfunding: the practice of funding a project or venture by raising many small amounts of money from a large number of people, typically via the Internet.
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What type of crowdfunding? Donation Rewards based Equity Loan All or nothing campaign Keep the money you raise even if you do not reach your target
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Choose your platform
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What can I fundraise for? Pilot projects Capital projects Equipment Feasibility Studies Community events Temporary uses Festivals
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Before you start It’s not a quick fix! Be realistic about your project goals. Put together a reliable team ready to make the project happen – TIME is key. Set a realistic fundraising target – understand how many pledges you will need to get to reach your target. Build you fan base before you start fundraising – make sure that you have the support of your community (including online). These are your ambassadors – and you will take them on your funding journey. If incentivising your campaign – carefully think about rewards.
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Sell yourself Well defined vision which understands the benefits. Create a sense of urgency. Understand who your audience is - don’t alienate people. Create a short snappy title - #’s can be a really good way of pulling this together. Look good – ensure you have good quality images/ videos. Explain your project clearly.
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Shout about your project Remember this is a CAMPAIGN! Create buzz before, during and after your campaign begins. Make sure that you are active on social media – recruit followers, follow others. Maintain your activity on Social media. Raid your contacts database. Use local and (if possible) national news channels – can you get an article in your local paper? Be interviewed on your local radio station. Have a #. If possible create a logo. Create a blog – be blogged about it. Create posters & flyers.
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Your donors Individuals Local businesses Local authorities Trusts and Foundations Developers Pro-bono/ time in-kind/ volunteers
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We’ve done it – what now? Keep in contact with your supporters. Build on the momentum that your campaign created. Keep the promises that you made to your supporters. Say thank you.
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Examples
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An oven at the heart of Anfield www.kickstarter.com/projects/1627172835/an-oven-at-the-heart-of-anfield
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The Flyover Liverpool www.spacehive.com/theflyoverliverpool www.friendsoftheflyover.org.uk/ https://twitter.com/@FlyoverLPL
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Individuals Grants Corporate Experian grant through Spacehive
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Join our Hive! www.spacehive.com/Initiatives/princesregeneration www.spacehive.com/Initiatives/princesregeneration Email: Hayley.murphy@princes-regenerationHayley.murphy@princes-regeneration BRICKwork: Hayley Murphy
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