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      CYBERWISE CROWDFUNDING QUIZ on QuizRevolution

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      CYBERWISE CROWDFUNDING QUIZ
      myStudiyo Media
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      CYBERWISE CROWDFUNDING QUIZ
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      900
      What is crowdfunding?
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       of players answered correctly.
      • A place where crowds can go online to invest in your project

      • A company of investors who come together to fund projects

      • A group of charities raising money together

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      Comments:
      1. What is crowdfunding?
        1. A place where crowds can go online to invest in your project
        2. A company of investors who come together to fund projects
        3. A group of charities raising money together

        1. Crowdfunding builds upon the idea of crowdsourcing: Crowdfunding pulls together a community—tightly knit or disparate—to fund a project, business or cause, usually via the Internet. http://www.socialmediaexaminer.com/11-tips-for-crowdfunding-how-to-raise-money-from-strangers/

      2. How does crowdfunding work?
        1. People, businesses or charities pitch an idea to the public
        2. A fundraising goal is set with a deadline
        3. Must be marketed heavily during a 30-90 day window
        4. All of the above
      3. True/False? Crowdfunding is a way to invest in a project.
        1. True
        2. False

        1. On most crowdfunding sites, people are not investing in a project or business, but helping them fund it in exchange for unique perks instead.

      4. True/False: People get rewards if the project meets its pledge goals.
        1. True
        2. False

        1. People are rewarded with unique, targeted rewards if the project comes to fruition, but don’t end up owning any part of the business or project.

      5. Which crowdfunding site does not raise funds for international projects?
        1. IndieGoGo
        2. Kickstarter
        3. RocketHub

        1. Kickstarter only supports U.S. projects (#ArtistServices, 2012)

      6. True/False: If a project doesn't reach its pledge goal by deadline, no money is exchanged.
        1. True
        2. False

        1. Some crowdfunders, like KICKSTARTER, require the pledged goal get met or no money changes hands.  However, crowdfunders like INDIEGOGO does not require the pledged goal be met if the project comes to fruition, but they do charge a higher fee if the campaign does not meet it the pledged amount.

      7. What should you not do during a crowdfunding campaign?
        1. Know your target audience(s)
        2. Don't leverage social networks & personal contacts to help
        3. Plan ahead
        4. Keep your supporters updated with posts on your progress

        1. “It’s important to realize that most of your audience may not be familiar with crowdfunding. Chances are you’ll need to use social media, email marketing and other communication tools to drive your community to your project at a crowdfunding site.” – SocialMediaExaminer, September 11, 2011.

      8. Is it better to pitch a big project or break it up into smaller bite-size pieces?
        1. Go for the whole enchilada and ask for the moon and stars
        2. Ask for only what you need and make the project attainable

        1. Although not impossible, most projects rarely receive $100,000+ donations from their patrons.  It’s better to start by raising enough to build a prototype or created a demo and post a reasonable, seek a more attainable funding goal. Your project has a better chance of reaching its funding goal if you break the project into smaller, bite-sized pieces and make sure your target funding goal is reasonable and accurate.

      9. True or False: It doesn’t really matter if I include a personal video with my pitch.
        1. True
        2. False

        1. Don’t be afraid to show your passion visually and narratively.  People love a good story and a video is just as critical as a compelling name, description and an image as part of your project to help you stand out. Check out this one that we did for www.indiegogo.combecyberwise!

      10. The digital tools can be deployed through crowdfunding in all the following except:
        1. Crowdfunding allows for new ideas to rise to the top.
        2. Crowdfunding encourages acts of altruism.
        3. Crowdfunding presents opportunities for knowledge sharing.
        4. Crowdfunding promotes the dumbing down of a concept.

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