The Shelfie Platform:
Shelfie was created to enhance nonprofit fundraising by creating an innovative platform that raises awareness, raises additional funds allows nonprofits to form and maintain relationships with a diverse groups of donors.
The Problem Shelfie Solves:
The number one problem Shelfie is attempting to solve is nonprofit donor engagement. The problem we are trying to solve is three-fold, and interconnected.
1. Donor Utilization:
In terms of donor utilization, 50% of charities use special fundraising events as a way to raise money, and on average, spend $1.33 to raise $1.00 at these events (charity watch.org).
2. Donor Acquisition:
Acquisition costs for a donor can be between $1.00 and $100.00, with acquisition rates as low as 1% (Smart annual giving).
3. Donor Retention:
Once the charity is able to acquire a donor, the average retention rate of a first year donor is 27%, whereas the overall retention rate of multi-year donors is 58%. This means that 73% of donors never donate again, Ultimately, charities are spending money to lose money, retention is terrible, and acquisition rates are highly unpredictable.
*A study in the Harvard Business Review noted that increasing customer retention by 5% can generate a 25%-95% increase in profit. This leads to an increase in Customer Lifetime Value of 15%-40%.
How it works:
The Shelfie platform combines the ideas utilized in more basic crowdfunding sites with a social platform to create a customized, interactive, donor platform for use in a number of different fundraising events.
Users will see a list of charities hosting a challenge, submit their best photo or video, and have the option to donate and see how much progress the fundraising campaign has made. They can vote on other submissions, receive votes, and then the most votes win profile achievements and prize packs from the nonprofit.
Through Shelfie's partnership with Charity Navigator, Donate Well, and Microsoft's Alumni Nonprofit Network, we have access to a vast amount of nonprofits and resources.
- Shelfie will work with the nonprofit to create a challenge specific to their cause so Shelfie can raise awareness.
- Shelfie will launch the campaign/ challenge on our mobile application
- Users create content- photo or video- and submit it
- Users compete to win prizes, connect with each other, and the nonprofit receives 90% of the donations