Crowdfunding videos is all the rage these days. We live in an era where filmmakers don’t have to rely on their deep pockets and whichever rich uncle they can remember the name of this month. No, there are systems in place that if used correctly can garner much support for quality filmmaking work.
This week, we have an article from Elizabeth Giorgi is the Founder and CEO of Mighteor, one of the world’s first internet video production companies.
As well as being an Emmy winning director writer and editor whose work has appeared in lots of top online locations like the New York Times, Wired and Huffington Post, Elizabeth is also one of the best people to listen to when it comes to crowdfunding your film.
Take it away, Elizabeth!
The 5 Don’ts of Crowdfunding Videos
If you’re about to embark on a crowdfunding project for your product, event, film or non-profit, you’ve probably spent a little bit of time thinking about the video for you project.
Whether on Kickstarter, Indiegogo or any of the new platforms popping up ― video is the key element that shows people what they are supporting.
And believe us, it’s tough to get strangers excited about your project. In fact, about 60% crowdfunding campaigns or projects fail. The odds are stacked against you, so you need everything in your toolbox working in your favor.
That’s where video comes in. Just how important is a quality video to your campaign’s success? According to IndieGogo, campaigns with videos raise four times more funds than projects that don’t.
At Mighteor, we work with clients every day on their crowdfunding campaign videos ― and we’re proud to say that our clients have had a 100% success rate to date with the help of our playables.
One of the key things that sets our projects apart? We focus on telling the story of their brand, their founders, their product and their vision instead of wasting their backers time with unnecessary details.
Here’s a video to explain:
There is no doubt that there is a certain amount of crowdfunding fatigue in today’s market. As a result, it’s critically important that you know with total certainty that you can deliver on what you’re showing people in the video.
If you know you can successfully deliver, then congrats, you’ve already overcome a huge hurdle. As you start to plan to your video, you can focus on the thing that matters most: getting people excited about your product.
Along the way, we’ve learned some important lessons about what to do to make a video and a campaign successful.
Turns out, it’s what you don’t do that really makes all the difference:
1. Don’t Copy Other Crowdfunding Videos
There are so many videos that start exactly the same. How many times have you heard, “Hey Kickstarter!” at the beginning?
Instead, think about how you can really introduce the story of your product, your company, and your vision.
That doesn’t mean you shouldn’t look for quality inspiration, but rather, that you should try to make sure your story feels uniquely yours.
2. Don’t Waste Precious Minutes on Perks
This is perhaps one of the biggest and most consistent mistakes we see in crowdfunding videos.
Your video should focus on you and your project. No one is supporting you for the t-shirt or the sticker. I promise.
So don’t spend precious seconds or minutes of your video going through those details.
3. Don’t Mention IndieGogo, Kickstarter, or whatever platform you’re using in the Video
The platform you are hosting your campaign on is just providing a service. There is nothing novel about using the platform anymore ― people are pretty familiar with all the major ones!
By not wasting time talking about this, you make sure you are focusing on story, inspiration and getting people to act.
4. Don’t Forget About Uses for the Video POST-Campaign
A video is a big investment, so try to think about how else you might use the video after the campaign is over. Here are some ideas:
- Will it go on your website?
- Social media?
- In your pitch presentations?
Try to make sure that it will be applicable to these settings as well to maximize your investment. This may mean editing the video slightly or recording a bit extra on your shoot day, but a good video production company will prepare you for this kind of planning. (Ahem, we always talk to our clients about this.)
5. Don’t Forget to Tell People What You Want Them to Do
You want them to pre-order your product. Say that.
You want them to tweet? Say that. You want them to tell a friend? Say that.
If you don’t say it, people won’t know to do it. If you don’t ask for the exact kind of support you want ― you may not get it.
We wish you the best of luck in completing a successful video. With any luck, you’ll be on your way to funding your campaign by 100% or more!
Elizabeth Giorgi is the Founder and CEO of Mighteor, one of the world’s first internet video production companies. She is an Emmy-winning director, writer and editor whose work has appeared on PBS, the New York Times, The Huffington Post, National Public Radio, Scientific American, Gawker, Wired, Forbes, Fast Company and many more. She is currently in post-production on her first narrative film, Victoriana, after spending the majority of her career in news and documentary. You can read her blog at www.beinggeekchic.com