The current crowdfunding model is inadequate. Once a project goes live on a crowdfunding portal, the portal provides no project syndication or marketing support. BNN Funding solves crowdfunding’s marketing deficiencies by syndicating marketing across 400 cities. First we leverage the Breaking News Network (“BNN”), the most comprehensive community news network in the world covering over 400 cities, to massively expose the campaign nationally. Second, we provide media voices to local advocates across the country – individuals, groups and organizations – that share the values and mission of the campaign, and deliver its message grass roots to their local constituents.
When local advocates are activated, word of mouth marketing can truly happen at the friends and family level. People make contributions when they are personally affected by the cause, or acting upon personal requests from people or groups close to them.
BNN Funding is applying coordinated amplification to develop the first crowdfunding system that can get crowdfunding campaigns up to trending topics, and reach backers locally through established influencer networks. BNN has a mature media network and an influencer network of over 7,000 community newsmakers in place, they can create and launch timely campaigns in 24 hours with full marketing support. This can be a compelling opportunity for crowdfunding, which often involves months of campaign preparation for marketing and exposure.
“One of the most innovative crowdfunding models in a long time”
The current crowdfunding model is inadequate, it needs to adopt the "investment banking model" of syndication and marketing for campaigns. Investment banks "share" campaigns through syndication, crowdfunding portals don't. Investment banks do local dog and pony shows to actively recruit investors. With portals, project creators are on their own with no way to easily connect to local investors.
BNN Funding has created a new crowdfunding marketing methodology. First, it exposes campaigns nationally to "Trending Topics". But the exposure is simply marketing, it doesn't translate into conversions. Second, BNN Funding builds advocate networks to support the campaign to local levels.
What’s next for BNN Funding?
We’re now in scale-up mode and working with project creators to support their campaigns.
I think one of the unique opportunities for any organization or entrepreneur with a cause is timing campaigns to breaking news events. Sudden events like the Napa Earthquake or the turmoil in Ferguson can spur a nation of backers to act. Millions of dollars can potentially be raised through crowdfunding. BNN Funding has the national marketing infrastructure to expose campaigns instantly so we can launch a campaign in a matter of hours after an event happens. For example, a foundation researching the ebola virus should crowdfund now to expose their efforts to a world that’s getting anxious about a possible pandemic. I don’t see these campaigns happening instantly yet, but it will happen. The Wall Street analogy to this kind of timed campaign is program trading in which traders instantly trade based on breaking business news.
I'm Matt Elson, the artist behind #InfinityBoxes. BNN Funding will revolutionize crowdfunding with its "collaborative crowdfunding" model that brings artists like me working together with museums and events producers to fundraise and market our exhibitions. Both of us have a stake in making the exhibition successful. This post A new “Collaborative Crowdfunding” Model will upend the “Pray it Tilts” Model explains how BNN Funding brings national exposure and local backing to both the artist and the museums.
This is a sustainable model. It works for artists and museums, it can work for indie films and film festivals, and other industries where 1+1=3.