Host A Crowdfunding Party
Overview
A crowdfunding party is a non-threatening, friendly event. Unlike crowdfunding that is done online, it facilitates donations because the ask for a donation is done in person. There is no admission charge. Light refreshments are served. A presentation is made and then the host or one of the host’s peers delivers ‘the ask.’
Many people work with multiple hosts to schedule a series of parties. These parties may take place in numerous locations nearby and also around the country when the project has diverse audiences that can be accessed.
The Host and Invitation
First, you have a host who has agreed to hold the party. Who is the ideal host? Someone who is familiar with the person or project at hand, strongly believes in what is being done, and is willing to open their home for the occasion. She is open to inviting friends and acquaintances, and comfortable letting others know she is making a donation.
An invitation is sent out to a homogenous list the host provides. The host will take interests and socioeconomic status into consideration when making her list. Invitations can be sent out through snail mail, e-mail or an online service. If a physical invitation is sent, the host will add a hand-written note to it. If e-mail is sent, it will be personalized with an embedded reply form. Available evite services are another alternative that can be used economically.
The invitation clearly states that the event, most often at the host’s home, is for fundraising purposes. Crowdfunding parties often take place at a home because this gives a message that the host welcomes attendees into their private space.
Scheduling the Event and Who’s Coming
How many people does it make sense to invite? The host needs to invite about four times as many people as she hopes will attend. If a host invites one hundred people, she can expect about twenty-five will accept. The ‘ask’ in the invitation screens people; those who don’t want to face a situation where they will be asked to donate will not accept.
Best times to hold a crowdfunding house party are weekdays from 6p to 8p or 8p to 10p as well as Sunday afternoons. Gatherings generally last from an hour and a half to two hours.
Guest lists can include family, friends, social and business acquaintances as well as work colleagues. Service professionals, members from one’s religious group and recreational acquaintances are also potential guests for a crowdfunding house party.
After invitations are sent out, the host needs to make phone calls to follow up with invitees to see who is coming. Everyone on the guest list should be called for RSVPs. And the call must come from someone the guest knows. If the RSVP is ‘yes’, the host or whomever makes the call should encourage the attendee to bring a friend. Even after there is a full list of people who respond in the affirmative, a host can expect 25% no shows. Reminder calls are imperative. Without them there will be poor attendance.
The Party
The first half hour to forty-five minutes of a crowdfunding party is for breaking the ice. If many of the guests do not know each other, the host may provide name tags. The host will provide light refreshments like coffee and cookies, beer or wine and pretzels, or other finger foods. There may be printed information, photos and posters in the area where attendees are mixing. Attendees will be expecting a pitch and bring checkbooks and credit cards with them.
After casually interacting with others, the host will gather guests in a comfortable seating area for a formal sit down presentation. She will welcome guests and introduce Carol Dunitz, the Bernhardt On Broadway playwright, composer and lyricist for whom the house party has been arranged. The presentation that follows will last from seven to fifteen minutes and includes a short video clip or performance. The best videos are ones that strike an emotional chord. A fifteen to twenty minute question and answer period is next. Once this concludes, the host or a respected peer will get up, let everyone know they are donating or how much they are donating and ask everyone to donate. The right person is someone who can speak passionately about the project and will make a contribution the night of the party. This person makes ‘the ask.’ There must be an ask!
Attendees are then given time to consider how much they want to donate. There must be the ability to accept credit cards.
Thank You and Follow Up
Carol sends a thank you note to the host and notes of thanks and a receipt to those who have donated. For those attendees who said they needed time to consider the amount of their donation, the host will make follow up phone calls. These calls will bring in 30% more money.