James McGirk’s calculus equation (Wired, June 2014) to a successful crowdfunding campaign has some good points.
Your campaign should be presented as professionally as possible, it should be communicated in an interesting way, it should be interesting in and of itself, and there should be some tangible and some intangible benefits to the potential donor. The “Money Woe Multiplier”, defined as ‘the factor by which the donor’s rent exceeds the national mean multiplied by their student debt loan,’ is where ioby’s mission and Kickstarter’s business part ways.
ioby is a funding tool for all people, not just young creatives with access to wealthy roommates and uncles (young creatives welcome, too!). If you’re working to make positive change in your community, we’ll make sure you can build support from within your neighborhood, from an important source of patient capital: your neighbors. You can learn an actual formula to a successful crowdfunding campaign with ioby’s friendly staff through our training program, FastCash, or join us in person at GIFT’s Money For Our Movements in Baltimore August 2-3.
Like Kim Klein says, no matter who you are, you already know all the people you need to know to fund your work.
How is ioby different from other crowdfunding sites? Glad you asked! There are some important differences.
1. ioby is a 501(c)3 non-profit organization, so all donations to projects on ioby are tax-deductible. Anyone can use ioby, so if you’re not a 501(c)3 yourself, ioby can offer you a limited form of fiscal sponsorship.
2. As a nonprofit, we have a mission to make sure your project is successful. This means we go the extra mile to make sure our platform is designed to serve you.
• NEW DONOR ACQUISITION. We give donors an easy way to join your mailing list after they’ve supported your project and send you the contact information of those who have given to you. Using ioby to power your campaign means a long-term investment in building your own base of donors.
• HIGH SUCCESS RATE. We have a very high rate of fully funded projects. That’s true because we’re here to help throughout the process.
• FLEXIBLE FINISH. We have a unique flexible finish policy that makes it easy for you to keep the funds you raised. “All or nothing” policies might work for contests, but not for real people doing important work on the ground.
• LOW FEES. We have a fee structure that intentionally supports early stage ideas and small projects. No matter how you figure it, we’re cheaper than our competition.
• TECHNICAL ASSISTANCE. We host webinars specifically designed to support civic leaders. We take the best lessons we’ve gathered from successful campaigns to date and share them.
• FRIENDLY STAFF. We care about your work and want to help leverage the ioby community of leaders to support you. We’re always here. And we listen to what you have to say.
3. ioby is more than a funding platform. We call ioby crowd-resourcing because we want you to get all the resources you need for a successful project. We connect you to other civic leaders, host meetings and discussions to support thought leadership in local solutions and civic engagement, like our Getting Good Done series, and bring you into a community of peer learning through our Recipes for Change toolkit. Check out our Resources.
4. You know what’s best for your neighborhood. All projects that are good for the community and make no profit are eligible to use ioby. We never judge how cool or innovative or creative your project seems to us. You know what’s best for your neighborhood, and we’re here to support you.