Supporting Vision for Black History Month

During Black History Month, we invite you to reflect with us on how crowdfunding can support more Black-owned businesses. The financial innovation firm RUNWAY has a powerful vision and approach to relationships that will serve as a starting point for our February reflections.

RUNWAY’s Vision

We envision a world where Black entrepreneurs thrive in a reimagined economy rooted in equity and justice.

RUNWAY’s Approach to Right Relationship

RUNWAY is guided by the principle that capital can be used to heal, repair, and connect Black businesses and the communities surrounding them. This principle informs all aspects of our organizational culture; from our lending and credit processes with our entrepreneurs, to the interpersonal working relationships within our team and with our partners. What makes us unique is the value we place on transformational relationships over transactional ones.

Our reflections will grow into practice here at The Local Crowd.  How can we help manifest RUNWAY’s vision in the work that we do?

One way is to hold up crowdfunding campaigns supporting Black-owned businesses.  The campaigns highlighted below are from FundBlackFounders, Rewards Crowdfunding for Black Entrepreneurs founded by Renee King.  Please take time to explore all the current and past campaigns on their platform.

Supporting Vision for Black History Month Supporting Vision for Black History Month Supporting Vision for Black History Month

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Mid-Campaign Marketing: Keep Reaching!

Use this time to rally around the next circle of supporters and continue implementing your marketing plan.

 

Mid-campaign is the time to rally around the next supporters referred by previous funders, or to methodically continue implementing your marketing plan. Most crowdfunding campaigns follow a predictable trajectory of initial success followed by a Valley of Death–the period of time immediately following the initial surge of interest that can feel a lot like a lull. Here are some ideas to keep your mid-campaign marketing moving forward:

  • Now is the time to reach out to a wider audience. Brainstorm with your team on where you can go next for support and the media channels to use to reach them.
  • Launch new rewards to build excitement around a different offering that your growing audience will be delighted to share.  
  • Update your early contributors about your campaign progress, new rewards and other news and ask them to share the campaign with their friends, workplace and connections on social media. 
  • Emphasize sharing on social media and direct emails with incentives like giveaways, discounts, or even unveiling a new reward! 
  • Create updated press releases and digital content for social media and newsletter lists featuring campaign updates, celebrating wins, and sharing what’s needed to move forward to reach your goals. 
  • Think about the affinity groups that may be interested in your work or who your team is connected with and reach out with information about your campaign.
Mid-Campaign Marketing: Keep Reaching!

We know that most crowdfunding campaigns experience a Valley of Death after the first week, and that continued focus on marketing and outreach allows for a steady climb up from that lull, making for an overall trajectory of crowdfunded success that looks a lot like a familiar zoo favorite!

 

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