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Get the Tropics to Skins
Transcript of Get the Tropics to Skins
A Crowd Funding Project
Crowd Fund the entry fee for my softball team, the Tropics, for our annual jaunt to Canberra for the ACTEW Water Canberra International Skins Tournament.
What is Crowd Funding?
Image source: http://disruptors.biz/wp-content/uploads/2014/08/Crowdfunding.jpg
Ordanini, A, Miceli,L Pizzetti, M 2011 "Crowdfunding: transforming customers into investors through innovative service platforms",
Journal of Service Management
, Vol. 22, No. 4, pp.443 - 470
"a collective effort by consumers who network and pool their money together, usually via the internet,
in order to invest in and support efforts initiated by other people or organizations."
In Real Life...
Amanda Palmer's TED talk: The art of asking
What is Amanda Palmer Saying About the Audience?
Most Importantly: The audience has evolved.
What the audience wants to pay for now, is a sense of connection with their artist, cause or whatever they support.
"Falling into the audience and trusting each other"
Ah, Sweet Success! What does it look like...
Kite Patch funded their idea of mosquito fighting technology, specifically with malaria infected communities in mind
The Women's AFL team from Melbourne raised their funds to provide a holistic game experience for their players.
Meow the Jewels
is a audience funded remix version of the album
Run the Jewels 2
by the band
Run the Jewels
The catch is the that the sounds produced throughout the album, will be re-created into cat noises.
The funding of the album came just prior to the band releasing the album for free download of their website.
Brendan Maclean crowd funded his 2013 album Population. His activity on social media, particularly twitter, gave him a huge audience base for his crowd funding campaign.
Mid campaign, Maclean released this song,
as a pay it forward for his eventual campaign success.
Coinciding with this was an article he wrote for Junkee here: http://junkee.com/how-to-make-pozible-work-for-you/387
How to Make it Work: Brendan Maclean.
If you weren't so stupid...you'd have a really good crowd fund campaign.
Basically the article gives a step by step on how to manage a good crowd funding campaign.
1. Create a build up of energy and excitement
2. Make it fun, engaging and entertaining
3. Give your audience an in depth understanding of where their money is going
4. Have rewards!
5. Be prepared for the mid campaign lag and how to deal with this
6. Deliver your product
Above all else,
HAVE AN AUDIENCE.
There is no crowd funding without a crowd.
Which brings us to...
What about now?
A year removed from his crowd funding project, I asked Maclean, through interview questions, what the crowd funding experience had meant and still means for him.
Full excerpt: http://peterwards.wordpress.com/2014/11/03/if-you-werent-so-stupid-brendan-maclean-interview/
What I learnt
The main points of note from the interview included:
1.Amanda Palmer put him up to it! Her campaign also served as the inspiration. Specifically making people part of the experience will serve you well.
2. The audience wants to feel included.
3. Young fans give it traction but old fans give you money, especially if your fan base is uni student centered.
4. The dynamic between artist and fan after they give you money is unique. Being overzealous with your rewards can backfire.
5. Don't go it alone - it takes an army and some serious media work to raise a significant some of money.
How to do it?
Unlike a artist, I deemed that I had little to offer an audience other than just a pure donation, which is why I chose the GoFundMe platform.
My attempts at social media exposure of the project felt clumsy at best. I was unable to build the traction that had been described by almost all successful crowd funders.
I also really understood the "begging" aspect of crowdfunding at this point.
What my audience said?
As a part of the project I also sent out a survey that went with donations. Overall I had 42 respondents. Sauro (2010) deems that this would give me approximately a 10-15% chance of error from the population. Whilst this is a large number, I really wanted
audiences perspective on why they would give a crowd funder money.
Sauro, J (2010),
What Is A Representative Sample Size For A Survey?,
Measuring U, viewed 2 November 2014, <http://www.measuringu.com/survey-sample-size.php>
Surveying the Field.
The following chart depicts the survey results. The survey suggests that while most people knew what crowd funding was they were neutral or unlikely to donate to a crowd funding campaign.
It also suggested that the worthiness of the campaign was crucial to donations.
But what does it all mean?
We can see from the survey that worthiness and what the project's moral or personal representation is means a lot.
It could be the case that my project just wasn't justifiable to donate to.
Another Skins team, the Eastern Bucks were able to successfully raise $3000 from a trivia night that they held.
In my opinion, reward for money is also really important to the new audience, even if it is a social occasion, they have a face to a product. This is similar to what Brendan Maclean describes in terms of using video and high visibility marketing in your campaign.
The launch of RedditMade, the social media site Reddit's crowd funding site, gives this research a instantaneous stakeholder.
Both the website and its crowd funders could see what the audience is looking for from a project and how they should go about setting it up.
Reddit's biggest advantage is its sense of community, so the "worthiness" issue would be arguably minimal. However, providing the audience exceptional, practical benefits would be the test.
Further research in this type of audience measurement could look at developing, with a wider scope of people the issues presented from this crowd funding project.
Another interesting point could be location and how it factors with the donation process. More specifically, is the audience affected by the environment they are in, both physical and social.