BUSINESSOUTSIDETHEBOX:TOOLS&RESOURCESFORGENERATINGBUSINESSINCOME

DURINGCOVID-19WITHNEWMEXICOMAINSTREET

April16,2020PresentedbyNMMSRevitalizationSpecialists:AmyM.Barnhart,Preservation&Non-ProfitResourceDevelopmentRobyneBeaubien,Promotion&ImageDevelopment

NewMexicoMainStreetisanassetbasedcommunityeconomicdevelopmentprogram.

Theprogram’scoreobjectiveisdowntownrevitalizationandredevelopment

•  NMMainStreetDistricts(30)•  Arts&CulturalDistricts(12)•  Frontier&NativeAmericanCommunities(28)•  HistoricTheaters(8)

NEWMEXICOMAINSTREETEngagePeople•RebuildPlaces•RevitalizeEconomies

BUSINESSOUTSIDETHEBOX:TOOLS&RESOURCESFORGENERATINGBUSINESSINCOME

DURINGCOVID-19WITHNEWMEXICOMAINSTREET

April16,2020PresentedbyNMMSRevitalizationSpecialists:AmyM.Barnhart,Preservation&Non-ProfitResourceDevelopmentRobyneBeaubien,Promotion&ImageDevelopment

USINGFACEBOOKTOSELLPRODUCTS

RobyneBeaubien,NMMSPromotion&ImageDevelopment

FACEBOOKTOOLS

  UsingyourFBbusinesspagetosell  UsingFBgroupstosell  UsingFBlive/eventsforshowcasing&selling  UsingFBtosellgiftcards  CheckoutFBBlueprintforhelpwithyourbusinesspagehttps://www.facebook.com/business/learn

FACEBOOKBUSINESSPAGE

RESTAURANTS

FBGROUPS

TIPSFORSALESONBUSINESSPAGES&GROUPS  Postpicturesofitemsforsalewithprices,firstcome,firstserveviacomments

  Postpicturesofitemsforsaleandhavecustomersmessageforpricing

  PostitemsandlinktoanEtsyshop

  Docontests  CrosspromoteonInstagram

  Usevideo,livestream,andvirtualevents

FBLIVE,VIDEOS,ANDVIRTUALEVENTS

•  Recordashortvideohighlightingyourbusinessproductsorservices

•  CreateaLiveEventandinvitepeopletoattend

Tosupportsmallbusinessowners,RatonMainStreet,theCenterforCommunityInnovationandRatonCashMobinviteyoutoparticipateinaseriesofVirtualCashMobs!”WhatisaCashMob?Acashmobisagroupofpeoplecoordinatedtomeetandspendmoneyatalocal,independentbusinessataparticulartime.AttheCenter,we'removingthisconceptonline!We'reaskingforcustomerstopopintovirtualopenhouseswithyourfriendstosay,"Hello,"toourlocalshopownersandmakepurchases.MerchantswillbehostingZoomcallsorusingFacebookLive.Somemerchantswillusetheirownpaymentportal,whileotherswilluseGoFundMe.

FacebookLiveCampaign-70BottlesSold*trackablewithpromocode

IntegrateSocialMediaPlatform-Bettermanageinventorywithflashsales,reachouttoexistingcustomers,buildnewrelationships,featurenewproductofferingsandservices.

NewDeliveryProgram-$1shippingprogram(justifiedwithmargins,quantity,andpromotions)

OnlineSales-Increase$156%pasttwomonths(April2020hassurpassedDecember2019)VideoContent=FB$pend

Websitetraffic—32kvisitorstowebsite(500%increase)frominteractiveEasterEggHunt.

TIPSFORVIDEOANDLIVEEVENTS

   Getthewordouttoexistingcustomers

   Haveapromotioncodefortheeventtotracksales

   Haveaplanforpayment   Square   PayPal   EmailInvoice   GoFundMe

   Haveaplanfordelivery/shipping/pick-up   Pleasefollowallhealthordersandmakeappropriatearrangements

   Usethetimetoteachcustomersaboutyourproductsandservices–betheexpert

NEWFACEBOOKBUSINESSHUB

https://www.facebook.com/business/boost/resource

https://www.facebook.com/business/boost/gift-cards

NMEDDBUYLOCALWEBSITE

www.buynmlocal.com

www.gonm.biz

CREATINGANONLINESTOREWITHSQUARESPACE

RobyneBeaubien,NMMSPromotion&ImageDevelopment

SQUARESPACE

   Easytoset-upeCommercewebsite

   Fourplansrangingfrom$12-$40amonth

   Customizabletemplates

   Useyourowndomainname

https://www.squarespace.com

•  Drivebusinesstoyourstoreviasocialmedia.•  Shipproductsquicklytoensurehappycustomers!

ONLINESTORETIPS

   Findsolutionswithwhatyouarealreadyusing

   Usesocialmediatointeractwithcustomers

   Createvirtualeventsthatencouragepeopletoshoponline  Whencreatinganonlinestore   Keepproductdescriptionsshortandaccurate   Listdimensionsand/orshowacomparisontoaknownproductinpictures   Knowthecurrenthealthorderguidelinesfordelivery/shipping/pickupbasedonyourbusiness

   Collectemailaddressesofcustomerstocreateanemaillist(Directemailisstillthenumberonewaytointeractwithcustomers!)

CROWDFUNDING

AmyM.Barnhart,NMMSPreservation&Non-ProfitResourceDevelopment

WHATISCROWDFUNDING?

GoFundMe.com

   “Crowdfundingharnessesthepowerofsocialnetworksandtheinternettogivepeoplethemeanstoraisefunds,helpothersovercomehardship,andmeetaspirationalgoals.Withcrowdfunding,youcanhelpafriendorhelpanentirecommunity.Youcandoeverythingfrompayforyourownsurgerytofulfillastudent’sdreamofattendingcollege—andsomuchmore.”

Fundable.com

   “Crowdfundingisamethodofraisingcapitalthroughthecollectiveeffortoffriends,family,customers,andindividualinvestors.Thisapproachtapsintothecollectiveeffortsofalargepoolofindividuals—primarilyonlineviasocialmediaandcrowdfundingplatforms—andleveragestheirnetworksforgreaterreachandexposure.”

  Equity

  Rewards

  Debt

  Donations

FourTypesofCrowdfunding

EQUITYCROWDFUNDING

   Givesfundersequityinyourbusiness

   Yousetthetermsofhowmuchequityyouarewillingtogiveup

   Differentequityoptions,suchasstocks(withorwithoutdividends)andconvertiblenotes

   2017lawcalledRegulationCrowdfundingallowseveryonetoinvestinstartups

REWARDSCROWDFUNDING   Donorsarerewardedwithincentives

   CouldbeaslittleasathankyoucardtoasmuchasflyingoutaVIPcontributorfordaywithyourcompany

   Don’thavetopaybackaloanandbackersareusuallyexcitedtohelpspreadthewordaboutyourproduct

REWARDSCROWDFUNDING

DEBTCROWDFUNDING   Businessraisesmoneythatitpaysback(loan)

   Don’tlookatthesamefactorstoqualifyaborrowerthatatraditionalbankdoes

   Lowerpriority:credithistory,lengthofbusinessexistence,andlevelofrisktolenders

   Largertheloan,themorequalificationsneeded

   Borrowersrequiredtorecruit5-30lendersbeforetheirloanispostedpubliclytothesite

DONATIONCROWDFUNDING   Notrequiredtopaybackfundsorproviderewards

   Sitesareprimarilyknownforraisingfundsforindividuals

   Supportingbusinessesviathesechannelsisnew

   Youcanofferrewards,butGoFundMedoesn’tguaranteethem,norprocessthem

WHATTOLOOKFOR(ORBEAWAREOF)WHENCHOOSINGACROWDFUNDINGPLATFORM

  LookandFeel  EaseofUse

  PaymentProcessing*

  Fees*  MarketingandSocialNetworkingCapabilities

  Traction

  Whatwillengageyourbackers?Whatwilltheyrespondto?Whatwilltheysupport?

   Somesitesonlypayoutifyouraisethefullamount.Other’spayoutasyougo.

   Somesiteshavesetfundraisingtimeperiods.Howmuchtimedoyouneed?

*WeFunder:7.5%oftotalfundraisefee··Kickstarter:5%oftotalfundraisefee&3-5%paymentprocessing··Kiva:0%forUS··GoFundMe:2.9%+.30(pertransaction)paymentprocessing

BUILDINGASUCCESSFULCROWDFUNDINGCAMPAIGN:CREATEYOURFUNDRAISERBeginwitharealisticgoal

   Choosesomethingachievable,gainmomentumandthenaimformore!

   Ifyourfinancialneedsgrow,increaseyourgoal.

   Ifyouarestrugglingwithhittingyourgoal,considerreducingit.

   Showadetailedcostbreakdownofwherefundersmoneyisgoing.

   Buildpaymentprocessingandfeesintoyourfundraisinggoal.

BUILDINGASUCCESSFULCROWDFUNDINGCAMPAIGN:CREATEYOURFUNDRAISER

Useatitlethattellsastory

   Choosesomethingthatmakespeoplewanttolearnabout,supportandshareyourcause

   Short,descriptive,inspiring,easytofind

   Fourtoeight-wordtitlesraisethemostfunds

   Useyourbusinessnamesoitiseasilysearchable

   Usethetitleasahashtagaswell#keepcitylightsbooksalive

BUILDINGASUCCESSFULCROWDFUNDINGCAMPAIGN:CREATEYOURFUNDRAISERTellyourstory

   Makeitpersonalandcompelling

   Behonestandopen,likeyouarespeakingtoafriend

   Makeiteasytoskim,useheadlines,subheadings,boldedtext

   Answerbasicquestions:Whathappened?Towhom?Whyisthisimportant?Whatisyourbusiness?

   Readsimilarfundraisersthatreachedtheirgoalsforinspiration

   Asksomeoneelsetoreadyourstorybeforeyoupostit

   Provideamailingaddressincasepeopleprefertomailindonations

   Descriptionsof400wordsorlessreceivethemostdonations

AfterCOVID-19

BUILDINGASUCCESSFULCROWDFUNDINGCAMPAIGN:CREATEYOURFUNDRAISER

Usecompelling&engagingphotosandvideos

   Clear&high-resolution

   Thisisthefirstimageyourpotentialdonorswillsee!

   Fundraiserswithfiveormorephotosraisemorethanthosewithless

   Choosephotostorepresentdifferentaspectsofyourbusiness

   Fundraiserswithvideoraisemorethanthosewithout

BUILDINGASUCCESSFUL

CROWDFUNDINGCAMPAIGN:SHAREYOURFUNDRAISER

Startwithyourownnetwork

   Solicityourfirst30%fromyourinnercircle

   PublicizeyourcampaignAFTERthosefirstcontributionspost

   Leveragefundingcommitments

   “Ifweraise$500inthenext24hours,adonorwillmatchit”

   Askyourinnercircletoshareyourcampaignviatext,email,socialmedia

BUILDINGASUCCESSFULCROWDFUNDINGCAMPAIGN:SHAREYOURFUNDRAISER PublicizeYourCampaign

   SharetoFacebook   FacebookLifeEvent(PersonalPage)

   FacebookLive

   FacebookGroup

   FacebookBusinessEvent

   FundraisingLinkinallFBPosts   Firstcomment,notinthepostitself

   Instagram,Twitter,LinkedIn

   Embedcampaignwidgetinyourwebsite

   UpdateYourCampaignandshareonsocialmedia

   Useyourcampaignhashtag#savethediner

   Sharetosocialmediaonetothreetimesperweek

Uselanguageandimagesthatinspiresaction(clicks!)

•  “Todayisthe15th!WeareaskingeveryoneinthisFacebookgrouptodonate$15.”

•  “Ifwecanraise$1,000inthenext24hours,agenerousdonorhasagreedtomatchitwithanother$1,000.”

•  “Weare$950shortofmeetingourgoal.Witheveryone’shelp,Iknowwecanreachit!”

•  “$5fromeachofourcustomerscanmakeadifference!Thecostofasliceofourfamouspecanpiecanhelpusmeetourgoal.”

BUILDINGASUCCESSFULCROWDFUNDINGCAMPAIGN:THANK&UPDATEYOURDONORS

Thankyourdonors

   GoFundMeMessage,Email,Text,HandwrittenCard,FunPostcard,PublicThankYou

   Socialmediashoutout

   Tagtheminapostorinathankyouphoto

   FacebookLiveVideo

Reachingyourgoalisnottheend!

   Updateyourdonorsastowhatisgoingonandhowyourbusinessisdoing

   Shareyoursuccessviaphotos,videos,newscoverage,etc.

LINKSFORMOREINFORMATION

CrowdfundingInfo&Tips

   https://www.forbes.com/sites/allbusiness/2020/01/09/small-business-crowdfunding/#44c7d175600e

   https://www.forbes.com/sites/morgansimon/2020/03/19/how-to-find-money-keep-your-business-going-and-help-your-employees-during-covid-19/#474f2794642c

   https://www.nav.com/blog/what-is-rewards-crowdfunding-61110/?utm_source=ab&utm_medium=content&utm_campaign=blogpost

GoFundMeInfo

   https://www.gofundme.com/c/small-business-relief-initiative-and-fund-faqs

   https://www.gofundme.com/c/blog/fundraising-tips-for-small-businesses

   https://www.gofundme.com/c/fundraising-tips

   https://www.gofundme.com/terms

CrowdfundingWebsites

   https://wefunder.com/

   https://www.fundable.com/

   https://www.kickstarter.com/

   https://www.kiva.org/

   https://www.gofundme.com/

THANKYOUFORJOININGUS!

gonm.biz nmmainstreet.org

FACEBOOK

@NMMainStreet

TWITTER

@NMMainStreet

YOUTUBE

@NewMexicoMainStreet

ThiswebinarrecordingwillbeavailableonYouTube