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Giving Store v2.0
Jesse Stremchaon 6 October 2011
Transcript of Giving Store v2.0
Email matching gift people
Better website content and navigation
2. Scan to the horizon - look OUTSIDE healthcare! Things We Learned 1. Form partnerships. Add value first. 5. E-I-E-I-O: 3. Take Risks --> Fail Forward 4. Measure: Experiment and Integrate Everything Innovatively Online If it don't make dollars, then it don't make cents. Experiment and Integrate
Everything Innovatively Online 5. E-I-E-I-O: 2. Scan to the horizon
- look OUTSIDE healthcare! Empowering Users/Donors
Social Media Values: Transparency & Authenticity
Mobile Social Media Values: Transparency & Authenticity Social Commerce/Games Empowering Users/Donors
Crowd Funding Iteration:
Improve the 'purchasing' process Disruption:
Put the Giving Store INSIDE Facebook Empowering Users/Donors
Social Media Values: Transparency & Authenticity Empowering Users/Donors
Choose what they want to support
Share with friends Crowd Funding
Work together with friends (and strangers) to fund goals Social Commerce/Games
Ask friends for help Social Media Values:
Transparency & Authenticity
In the context of patient stories
Showing what philanthropy pays for
Bulds on branding campaign In 2010, visitors to the Giving Store became donors at a rate of 500% lower than Children’s Main donation page and with an average gift less than half that of the main donation point. In 2011, we believe we can cut the disparity in conversion rate in half with a Giving Store redesign. With a redesign, there’s also a good chance we can have a similar effect on average gift rate. This redesign work should produce additional gift revenue in the range of $34,000-$65,000.
Importantly, the work also includes custom integration to the backend to maintain the processing efficiency that helped us save almost 8 person weeks of time in 2010.
With modest additional cost and effort, we’ll also integrate the Giving Store directly into Facebook. While this approach is cutting edge and therefore hard to model, we believe it could easily increase the number of views of the page by 50%. Assuming we can maintain the increased conversion and average gift rate, this could result in a total increase of $50,000 in revenue from Facebook and of over $100,000 in total net increase. What could go wrong?
The premise that people share and give on Facebook is wrong
The Facebook audience, Giving Store audience and Giving Page audience overlap - A LOT!
Iterative improvements are necessary to realize Giving Store promise
Disruptive improvements create the chance for significant updside with marginal additional investment
Iterative improvements should pay for ALL improvements in 12 months, or 18-24 if projections are overly optimistic.