Nothing speaks to the independent filmmaking spirit quite like crowdfunding. Not only can you get your project made without relying on traditional top-down sources, but also a successful campaign demonstrates your film’s marketability to potential distributors. Not all crowdfunding campaigns have the built-in fan base of the wildly successful “The Veronica Mars Film Project,” so we’ve gathered some tips and resources to help you make sure your crowdfunding campaign reaches, or even surpasses, its goal.
Do Your Homework
As we mentioned in this article comparing crowdfunding sites, you need to know the particulars of the platform and choose accordingly. Kickstarter and Indiegogo both have track records of funding successful filmmaking projects, and looking at their film and video specific project pages makes clear that trending projects include feature films, documentaries and shorts. GoFundMe, on the other hand, has gone in another direction with the majority of its campaigns being personal rather than creative. Also, keep in mind that Indiegogo allows users to collect and keep funds as the campaign proceeds, while Kickstarter is an all-or-nothing game, where you must choose a deadline and a minimum goal that you must meet in order to collect funds.
Hit the Ground Running
Do your research and have everything in place before your campaign starts. Whatever platform you choose, spend some time perusing projects, especially those that seem similar to your own. Both the successes and failures can help you.
Also, try to line up PR before launching. Doing the work before the campaign clock starts ticking will give you a better chance of success. According to this article at CrowdCrux.com, gaining the interest of strangers is most likely to occur within the first three days of launching: “At this stage, you will be in the recently launched tab and if you hustle and get supporters early, you can become a trending project.” After that window, it gets much harder.
Never Underestimate the Power of a Good Story
Setting up your project page with a clear, concise, and compelling story including visuals and a realistic budget is vital. According to Kickstarter’s Creator Handbook, “there are some basic questions you should answer including: ‘Who are you? What are you planning to make? Where did this project come from? What’s your plan, and what’s your schedule?’” In other words, you want to transmit your passion and excitement to potential backers, while assuring them that you are qualified and capable of bringing the idea to life.
Attract the Low Rollers
Remember that the beauty of crowdfunding is that many backers with shallow pockets can take the place of one or two execs with deep pockets — but, they will also want return on their investment. According to this Entrepreneur.com article, the most popular pledge amount at Kickstarter is $25, so you want to make sure “the affordable perks don’t run out too fast, or you risk losing potential backers who can’t afford steeper offerings.”
Filmmakers are lucky to have built-in social media minions in the way of cast and crew. However, don’t rely on them to come up with their own mini-campaigns. Give them shareable items that they can customize for their own network. Most Kickstarter campaigns don’t go viral, but that doesn’t mean they don’t succeed. Don’t be shy to reach out to friends, family, coworkers, acquaintances and everybody you can think of that might be interested.
Have you managed a successful crowdfunding campaign? Tell us your experience in the comments below. And learn more about filmmaking and producing with a variety of short- and long-term programs at the New York Film Academy.