The Crowdfunding Craze in Higher Ed #eduweb14 Todays presenters - PowerPoint PPT Presentation

The Crowdfunding Craze in Higher Ed #eduweb14

Today’s presenters Jamie McDonald Follow @genero_city Chief Giving Officer of Network for Good Founder of GiveCorps, online giving software for nonprofits and Higher Ed Dayna Carpenter Follow @boyles_d Director of Annual Giving at UMBC Board of Directors – Northeast Annual Giving Association, Ltd. #eduweb14

Crowdfunding has a long HISTORY #eduweb14

Now, Crowdfunding is making waves in Higher Ed #eduweb14

The fundamentals for higher ed haven't CHANGED #eduweb14

But your passionate community …students, alumni, parents, faculty, staff, others #eduweb14

Has more power to move the needle... …even with annual giving. #eduweb14

With crowdfunding, social media + great technology... #eduweb14

It’s like a party for your school #eduweb14

Crowdfunding: What is it? Project-Based Annual Giving #eduweb14

Crowdfunding: What is it? Giving Days #eduweb14

Crowdfunding: What is it? Peer-to-Peer Fundraising #eduweb14

Crowdfunding: What is it? Student/Faculty Philanthropy #eduweb14

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Crowdfunding: building major gift funnel Planned or Principle Gifts Major Gifts Annual Giving Crowdfunding Principles #eduweb14

Segmentation • Prescriptive vs. Self-selected Segmentation • Lead-Generation and Data Capture Tool • If used right, reduces donor fatigue – Changes the “voice” of the Asker – Subtle way of involving donors in a “second ask” #eduweb14

Phases of a Capital Campaign (and a Crowdfunding Campaign) • The Quiet Phase • The Campaign Kickoff • The Public Phase • The Campaign Closing Celebration #eduweb14

Rosso’s Concentric Circles Constituency Model #eduweb14

UMBC Crowdfunding: Pilot • Launched in June of 2013 • Partial responsibility of one staff person • Focused on student organizations • 323 total donors • 8.5% of all first-time donors to UMBC • $16,838.50 (Average gift of $52.13) #eduweb14

UMBC Crowdfunding: The Future • Connecting with Events • Incorporating in Direct Mail and Calling Efforts • Personalized pages for high-end donors • Team – or – Board/Chapter-based Giving #eduweb14

What’s the right goal? Donors New Donors Dollars Recurring Givers Participation #eduweb14

(Planning + Inspiration) = Success You can still use a giving pyramid to determine goal Raise $50,000 in campaign • 8,500 donors in data file • 3% participation (and you’ll definitely attract new donors, so this should be a safe bet) • 255 Donors 22 #eduweb14

Challenges Events Matching Funds #eduweb14

Teach campaign managers to be contagious Donor list Prospect list Faculty/Staff Students Regular, SHAREABLE Social channels content Media Administration Hint: COPE - Create Once; Publish Everywhere #eduweb14

What online giving capabilities do I need? • Ideally: – Clean, simple giving process – Automated thank you and tax receipt – Mobile-ready for both learning and giving – Be easy for your team to set up, update, and manage – Embedded social sharing – Instant reporting on the progress of your campaign – Multiple inspiring fundraising pages – Equipped to show your matching funds – Peer to Peer fundraising capability – Donor scroll online Buy vs. Build? #eduweb14

Case Study: Project-based annual giving #eduweb14

Case study: Giving Day #eduweb14

Case study: Peer or Ambassador Campaign #eduweb14

Case study: Student Philanthropy #eduweb14

The Long-Term “Sticky” Donor • Provides a great “first” giving experience • Highlights direct donor impact • Broadens fundraising constituency • Identifies donor interests – contributing to marketing opportunities • Turn students and young alum into Philanthropists – instill habit of giving #eduweb14

Thank You jamie@givecorps.com dayna@umbc.edu Higher Ed Solutions: www.networkforgood.com/givecorps #eduweb14