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stryck in crowdfunding

Salting the Mine/Priming the Pump

When I was a teenager, the youth group I belonged to did a "bucket shake" each year. We would stand at a traffic light and gather donations from cars that stopped there. You may have seen these yourself. I've seen High School bands, local volunteer firefighter organizations, and Scouting units do these as well. The youth group donated the funds to the food pantry in the area.

When we started, I recall my dad adding some change to the buckets from his own pocket. Also, he would periodically check the level of the donations in each bucket and remove some if it got to be "too much".

Psychologically, people would be more likely to donate if there was already change there, he explained. Also, if we're overflowing with funds, they won't donate because we're doing well enough without their help. It didn't matter how much was actually in each bucket. Few people would want to go first, and few would feel it necessary to add to a large pile.

A common problem when crowdfunding or seeking feedback online is how to get participation. The psychology wouldn't change, even if the venue has. Would getting a friend to start a discussion engender more comments, perhaps? If there are already comments, it seems likely to me that more people would comment back. Starting a discussion requires getting the ball rolling. Keeping it rolling seems to be easier for most people, at least until comments reach a certain point, such as a third page here on Livejournal. Then, discussion ebbs, probably because people don't want to expend the effort to read through all that's been posted so far.

Money is harder to quantify in this manner online. How could you "prime the pump" when seeking funding for a project? How do you get past the natural resistance of your audience against going first?

Comments

When we started, I recall my dad adding some change to the buckets from his own pocket. Also, he would periodically check the level of the donations in each bucket and remove some if it got to be "too much".

The same is true of busking...
I also wonder if knowing the secret makes people more or less likely to donate (either to a bucket shake or a cap in front of a busker).

Hmm...

>> Would getting a friend to start a discussion engender more comments, perhaps? <<

I think that would help, yes. It's a way for enthusiastic fans to be really, really useful: that first comment is crucial to starting a discussion. So if you know that, you know to do it for your friends who are crowdfunding.

*ponder* Another option would be a sock puppet (posting from a separate account by the same author) but that's cheating and would really annoy people if discovered.

>> How could you "prime the pump" when seeking funding for a project?<<

Not sure, other than the aforementioned sock puppet, which is probably not a good idea.

>> How do you get past the natural resistance of your audience against going first? <<

Maybe offer a special perk to the first person, or first three people, sending a donation?

However, it depends on your project. With my Poetry Fishbowl, some folks donate as soon as they see the thumbnail based on their prompt -- but at least a couple of folks often wait until everything has been written and described so they can pick what to sponsor out of the whole day's batch.

Re: Hmm...

I do like the idea of a perk to the first few people.. how many people would depend on the average number you'd normally get, I guess.
Oh, what an interesting question!
How could you "prime the pump" when seeking funding for a project?

For a subscription model - give out a few subscriptions! Maybe a limited time subscription, or ask for a blog review in exchange for said 'freebie' subscriptions?

(Anonymous)

vuitton bag

Very valuable message
I wonder if a fundraising goal of some sort (the thermometer model, or the red-yellow-green model Duotrope does) helps to "salt the hat"?