Over the past couple of years, crowdfunding has been making a big impact. Sites like Kickstarter and Indiegogo have given individuals the chance they need to raise capital. They can create projects for pretty much whatever they want; a business start up, an album for a band, funding to create a new product, raise money for a charity or non-profit, or even to get money to film a movie.
The short explanation on how crowdfunding sites work:
• An individual comes up with an idea and they need funding to help make it a reality
• They start a crowdfunding project on a site like Kickstarter or Indiegogo.
• A goal is set to how much money they are looking for. (For Indiegogo, project owners get to keep the money, even if they don’t reach their goal. For Kickstarter, money is only rewarded from contributors if the project has reached or surpassed it’s goal)
• Project owners offer “rewards” for certain pledge amounts. For example, if the project is to make a film, a reward of a DVD copy of the finished film might be given to someone who contributed $20. Or for someone who contributed $1000, they might get flown out to Hollywood for the premiere.
Many things are required for a successful crowdfunding campaign. You need a solid plan, good rewards, realistic goals, and finally, a comprehensive and effective way to tell everyone about it.
One of the must successful components for a campaign to reach it’s goal is an engaging video that informs the viewer about the project while at the same time is entertaining and gets them excited to be a part of it. Kickstarter says that projects with videos have a higher success rate (50% vs. 30%).
Here are some simple tips to create a successful video production for your project:
• Introduce yourself: People like to know who they’re giving their money to.
• Talk about your project and how you came up with it: The back story shows how you’re personally connected to the project and why you think it’s a great idea.
• List the benefits: If you’re funding a product or business, list it’s selling points so that people can easily see the advantages.
• Show it in action! (if you can): If it’s a product and you have a prototype, show what it can do and how it works. If the project is for recording an album, play a sample. Show that it’s more than just an idea in your head and you are ready to follow through.
• Talk about the rewards: List them graphically on the screen so that people have a clear idea of what you’re offering.
• And finally thank them for their support: Once the viewer sees your infectious enthusiasm for this project it will rub off on them too!
There are many ways to film a crowdfunding video and the path you take should be aimed toward your demographic (people that are going to be interested in what your project offers). A video that is geared towards a younger audience will be different than a video aimed at an older one.
Finally, keep it short. The last thing you want to do is bore them with a video that’s too long and takes forever to get to the point. The viewer should know within the first minute if they’re going to contribute. If you can’t get them hooked by then, you probably won’t get them at all.
If you’re in the Melbourne, Brevard, or Space Coast area (or any where in Florida) and you have an idea you think would be a perfect fit for crowdfunding, please contact us for a free quote! 142 Productions can help create a video that will make it a success!