Does your crowd-funding campaign need video?
Crowdfunding is no longer a new idea – Kickstarter, IndieGoGo and GoFundMe have been around for the better part of a decade, and it seems every entrepreneur or small business owner with an idea has taken to the internet at least once in the hopes of going viral. It’s an ingenious idea and has proved highly successful for many, but in the packed world of crowdfunding, how do you (and your project) stand out?
tell your story
In the ‘90s, the internet promised to level the playing field. And that it did. In the late 2000s when sites like Kickstarter and IndieGoGo came to be. Artists and music groups (and eventually inventors and entrepreneurs) were able to reach directly to their fans for financial support, bypassing the middleman that can suck a budget – and a creative dream – dry. GoFundMe then came along for the more personal campaigns – mission trips, medical expenses, legal fees and the like. These platforms now dominate the crowdfunding world, making room for ordinary people with extraordinary ideas.
Crowdfunding has quickly become one of the most successful ways for entrepreneurs and artists to make their ideas a reality. But for every Pebble Smart Watch ($20.3m raised) and Coolest Cooler ($13.2m), there are plenty of unsuccessful and forgotten projects. Don’t let yours be one.
Your campaign has a story. The story may be as yet unfinished, but you’ve got one nonetheless. Share that story! Hook people on your message, and reel them in to your cause. It’s been said again and again and again that video is the best way to do that, increasing your chances of successful funding by 40-50%. Our video for Portland-based OTTO Design Works’ new OTTOLOCK helped to successfully raise over $350k of it’s $50k goal.
“But I don’t have the money to produce a good video, that’s why I’m here in the first place!” you might say. I get it, video doesn’t come cheap -- especially quality video -- and a shaky iPhone video isn’t going to cut it this time. Luckily there’s a middle ground. Video professionals have seen the need for cost-effective and high-quality video and have begun filling that space. It’s easier than ever to set yourself up for success with a beautiful and captivating video, without counter-intuitively spending the funds you’re trying to raise.
All you need to do to be successful is get your message across quickly and effectively, and that’s exactly what video does. No other medium hits on so many methods of communication all at once.
So as you’re planning your next campaign, keep in mind that even with the best ideas your biggest hurdle is going to be distinguishing yourself in the crowded world of crowdfunding. Make sure you take your time, get organized, do your research, and pore over all the free resources (such as Kickstarter’s “Creator Handbook”). When you're ready to begin the process, send us a message. This is our bread and butter, and we're here to ensure your success.