Crowdfunding @cewas and Our Common Food Start-up Programme 18-9-2015
Crowdfunding @cewas and Our Common Food Startup Programme
Apr 13, 2017
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Crowdfunding
@cewas and Our Common FoodStart-up Programme
18-9-2015
Position and Activities• Professor of Business Economics and Entrepreneurship, HTW Chur • Head of Competence Field „Digital Strategies“, Swiss Institute for Entrepreneurship• Researcher, Coach, Trainer, Consultant
Fields of Expertise: • Entrepreneurship, Business Model Innovation, Lean Start-up• Digital Strategies• Crowdfunding, Social Media, Online Communication• Customer Relationship Management, Big Data
2
About MeKerstin Wagner
3
What is Crowdfunding?
• Crowdfunding is an open call over the internet for the provision of financial resources.
• Different types of crowdfunding have been proposed based on what backers receive in exchange for their contribution:
- equity shares (equity-based), - a product or service or other non-monetary rewards (reward- and donation-based) - or a particular interest rate (lending-based).
4
Examples of campaigns
Source: http://www.100-days.net/de/projekt/davoser-schlitten
5Source: http://www.100-days.net/de/projekt/davoser-schlitten
Price (in SFr)
Reward Cooperation partner
15 Greeting from Davos (postcard) Paul Ardueser
45 Participation at the sledge race (from mountain pass to Davos) Paul Ardueser, DMO
80Participation at the sledge race and a guided tour in the museum of winter sports Davos
Paul Ardueser, DMO, Association of the winter sports museum
150Participation at the sledge race and two guided tours in the museum of winter sports Davos and the manufacturing site at Paul Arduesers’ Carpentry
Paul Ardueser, DMO, Association of the winter sports museum
650One of the handcrafted sledge from Davos incl. individual manufacturing number with a handover at the sledge race from the mountain pass to Davos plus two guided tours (museum, carpentry)
Paul Ardueser, DMO, Association of the winter sports museum
999
One of the handcrafted sledge from Davos incl. individual manufacturing number with a handover at the sledge race from the mountain pass to Davos plus two guided tours (museum, carpentry) plus an overnight stay at the five star hotel Intercontinental at Davos
Paul Ardueser, DMO, Association of the winter sports museum, Hotel Intercontinental Davos
Rewards of the campaign «Sledge from Davos»
6Source: http://www.100-days.net/de/projekt/eiskletterweltcups-2016
Examples of campaigns
7Source: http://www.100-days.net/de/projekt/rotauf-ultralight-jacke
Examples of campaigns
8
How backers behave over the time of a campaign
Sum
of
Don
atio
ns (C
HF)
Num
ber
of D
onat
ions
Ave
rage
Am
ount
of
Don
atio
ns (C
HF)
0100200300400500600700800900
1'000
1 3 5 7 9 11 13 15 17 19 21 23 25 27 29 31 33 35 37 39 41 43 45 47 49 51 53 55 57 59 61 63 65 67 69 71 73 75 77 79 81 83 85 87 89 91 93 95 97 99
0
100
200
300
400
500
600
1 3 5 7 9 11 13 15 17 19 21 23 25 27 29 31 33 35 37 39 41 43 45 47 49 51 53 55 57 59 61 63 65 67 69 71 73 75 77 79 81 83 85 87 89 91 93 95 97 99
010'00020'00030'00040'00050'00060'00070'00080'000
1 3 5 7 9 11 13 15 17 19 21 23 25 27 29 31 33 35 37 39 41 43 45 47 49 51 53 55 57 59 61 63 65 67 69 71 73 75 77 79 81 83 85 87 89 91 93 95 97 99
Source: Beier, M / Wagner, K. (2015): http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2654765
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When initiators start their campaign
Source: Beier, M / Wagner, K. (2015): http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2654765
Proj
ect S
tart
s
MO TU WE TH FR SA SU 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
0
20
40
60
80
100
120
MO TU WE TH FR SA SU0
5
10
15
20
25
30
35
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
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How campaigns develop over the first ten days
0
5
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15
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45
50
Day 1 Day 2 Day 3 Day 4 Day 5 Day 6 Day 7 Day 8 Day 9 Day 10
MO_S TU_S WE_S TH_S FR_S SA_S SU_S
MO_NS TU_NS WE_NS TH_NS FR_NS SA_NS SU_NS
Source: Beier, M / Wagner, K. (2015): http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2654765
MO_S = Starting Day of the Week of Successful Projects MO_NS = Starting Day of the Week of Unsuccessful Projects
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It’s all about the first days!
Source: Beier, M / Wagner, K. (2015): http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2654765
• Our results indicate that the first days of crowdfunding campaigns are of great importance for the development of campaigns.
• It is crucial to start a well prepared project that engages large backer support within the first days.
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It’s all about traffic!
Source: Beier, M / Wagner, K. (2015): http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2654765
• Project pages in crowdfunding platforms are like web-based points of sale since project initiators intend there to “sell” their project, product or service to potential customers.
• To realize purchases, potential customers must be directed to the project website on the crowdfunding platform just as conventional buyers are in e-commerce.
• Embed own content elements in other operators’ web services, e.g. social networks, video platforms, blog posts, guest articles, commentaries (“Off-page” activities)
• Potential customers can be reached or guided with one or two clicks directly to the point of sale, i.e. the project page on the crowdfunding platform.
• => Establish good external links so that potential customers are likely to follow
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How «off-page» activities generate traffic
Source: Google Analytics.
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Example «off-page» activity (newspaper 20 Minuten)
Source: Google Analytics.
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It’s all about conversion!
Source: Beier, M / Wagner, K. (2015): http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2654765
• The presentation on the product page must be optimized so that visitors at the point of sale will buy with a high probability (high “conversion rate”)
• “On-page” activities like the quality of project presentations, the use of online videos and project updates are therefore helpful.
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Transactions on the project page
Source: http://www.100-days.net/de/projekt/davoser-schlitten
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It’s all about you!
• Story• Video• Rewards• People• Hurdle (Funding Goal)• Communication Activities• Media / Press Coverage • …
E-Mail: [email protected]: www.kerstinwagner.orgFacebook: https://www.facebook.com/kerstinwagner.orgLinkedIn: https://ch.linkedin.com/in/kerstinwagnerorgSSRN: http://ssrn.com/author=2161225Google: http://scholar.google.ch/citations?user=VMxzmfEAAAAJ&hl
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