Why These Cause, Product and Community-based Crowdfunding Campaigns are Successful

Share

NCFA Canada (About Us) | Gabe Nasr | August 7, 2014

Case study - three successful reward based campaigns

Crowdfunding takes many forms, and in this video we take a closer look at why three current crowdfunding campaigns (cause, product and community) are finding funding success.

 

 

Why These Cause, Product and Community-based Crowdfunding Campaigns are Successful
Category : Campaigns
Hits : 4192
NCFA Canada hosts a video presentation that is recorded/published in August 2014. The video takes a closer look at 3 currently funding reward-based crowdfunding campaigns (cause, product and community building) to find out why they are on the road to success. Hosting portals include FundRazr, FuelLocal and Indiegogo. Campaigns reviewed include Riverblue, Help Us Keep Rural NL Alive! and Leo. For more information, please visit: http://www.ncfacanada.org/

 

Case Study 1: Riverblue is a documentary exposing the horrors of the textile industry

Riverblue Fuellocal

Name = RiverBlue
Type = Cause-based
Portal = FuelLocal; Currently funding (105 days and counting)
Funding = 104% of $45K target; $46K+ (keep it all)

An effective and clear pitch video is imperative to the success of any campaign. An effective pitch video must cater to the unique goal or offering of the campaign.  Cause-based campaigns like Riverblue must have a clear description of what the problem they are addressing is, and why the documentary has been made. This must be presented in a compelling, riveting manner in order to encourage a call to action.  Riverblue has received nearly ⅘ of their contribution total with no claimed rewards from backers. This is because of the belief the donors have in Riverblue’s cause. Backers in cause-based campaigns often contribute dollars without accepting rewards, as rewards are often seen as devaluing their contribution level (adding expenses to the budget).

 

Case Study 2:  LEO is a wearable tech band for keeping track of workout info

Leo Indiegogo

Name = LEO
Type = Innovative product
Portal = Indiegogo; Currently funding (19 days remaining)
Funding = 241% of $50K target; $120K+ (keep it all)

The pitch for LEO must be inherently focused on the ways in which the product enhances the consumer’s life. This is done through attractive graphics in the video that show the benefits, and through getting the viewer excited about the innovative technology.  This is not the case for product-driven campaigns. Backers of LEO are interested in having the product, and almost all of LEOs contributions have been through rewards options that include the very product they are developing. LEOs team knows they have an innovative product, and so their campaign is designed around people pre-buying it.

 

Case Study 3:  Help Us Keep Rural NL Alive! Community building in Burlington, Newfoundland

Burlington Newfoundland - FundRazr

Name = Help Us Keep Rural NL Alive!
Type = Blend of Cause and Product
Portal = FundRazr; Currently funding (10 days running)
Funding = $5K+ (keep it all)

The Burlington community campaign uses a secret weapon- an engaging and animated pitch guy who is a TV personality. Shaun Majumder is from Burlington, and he passionately and comically engages the viewer in a way that gets them motivated to back the project.  The community project of Burlington presents a unique benefit for the backer. Not only does this campaign offer awesome rewards- mostly involving fun, adventurous getaways- but there is also the added benefit of contributing to a cause-based campaign. In this case rather than raising awareness about polluted water, the cause is developing a sustainable and attractive community.

 

Final Word

Here at the NCFA we take an agnostic and holistic approach to crowdfunding and do not endorse any products/causes that these campaigns offer.  In this video case study we wanted to examine a few current successful Canadian crowdfunding campaigns that represent different forms crowdfunding can take. There are countless other qualities that make these and other campaigns successful, but by highlighting a few key strengths these campaigns possess, we hope to provide members with an educational and entertaining video presentation.  Not an NCFA member?  Enjoy discounts and soon premium content, become a member today.  Happy crowdfunding!

 

Watch the approx 11 mins video --> Now

 

The National Crowdfunding Association of Canada (NCFA Canada) is a cross-Canada crowdfunding hub providing education, advocacy and networking opportunities in the rapidly evolving crowdfunding industry. NCFA Canada is a community-based, membership-driven entity that was formed at the grass roots level to fill a national need in the market place. Join our growing network of industry stakeholders, fundraisers and investors. Increase your organization’s profile and gain access to a dynamic group of industry front runners. Learn more About Us | About Crowdfunding or contact us at casano@ncfacanada.org.

 

Share

Leave a Reply

Your email address will not be published. Required fields are marked *