The crowdfunding industry has much to offer filmmakers, producers and directors everywhere. Films and videography projects constitute a large chunk of crowdfunding campaigns around the world, especially on platforms like Kickstarter, Indiegogo and Wishberry. Kickstarter alone has seen film-related campaigns raise US $203 million. In fact, Indiegogo initially began with a film-specific platform before choosing to start supporting other causes.
So how do you run a successful crowdfunding campaign for your movie project?
- Start by learning from the mistakes of other campaigners. Study successful and failed film crowdfunding campaigns. What did they do differently? There are thousands you can find on Kickstarter and Indiegogo alone, so begin your research today. Pay attention to how they made their pitch, the kind of rewards they offered, how often they posted updates, and so on.
- Don’t try to organize your campaign alone. Unlike most other kinds of campaigns, you’ll already have a team ready to join your fundraising endeavour. Most successful campaigns are backed by hard-working teams rather than solo efforts. Assemble your team and allocate tasks.
- Plan your budget carefully. Be transparent about the money you’re asking for. Give a careful break-up of your financial plan. Supporters will want to know where each penny of their donation will go, and they have every right to ask.
- Offer rewards, but carefully. Before you promise rewards like T-shirts and DVDs to your backers, analyse what you can afford and what you can’t. There’s other kinds of immaterial and cost-effective rewards you can think of, like naming a character after your donor. Choose for a realistic goal amount and offer rewards accordingly.
- Strategize your promotional activities. Build social media, PR and marketing plans to suit your budget, needs and audience. There’s an odd 40,000 film crowdfunding campaigns on Kickstarter this very moment. There’s a chance you’ll compete with similar numbers if you choose a popular top platform. Plan to beat the odds. Create a list of influencers you can pitch to. Get articles written about your film.
- Give your supporters a good sneak peak! Especially if you don’t have a sizeable existing fan base, don’t bother asking strangers to donate to a film project if they’re not going to be given a good idea of what the movie itself is going to look like. Put up a poster and talk about the plot and even better, provide a 20 or 30-second sneak peak into the movie.