Today, crowdfunding and video are synonymous; they come hand in hand. You wont find many campaigns without a pitch video leading the campaign, presenting the idea or business opporunity. Statistics show campaigns that use a video are more likely to succeed than those that don’t. But how do you make a video and what should you include? We take a look under the hood of crowdfunding video production.
Ever since the beginning of online Crowdfunding in the early 2000’s, the number of start-ups and entrepreneurs utilizing this system has been growing at a steady pace, much for the fault of 2008’s global crisis and the difficulties for small businesses to access funding afterwards. Since then the year to year growth of money raised per campaign has followed the same trend. However, this doesn’t mean that crowdfunding is an easy way to raise funds and get backers to fund a project.
Backers still have to be attracted to the idea of investing in your project, and if we consider that more and more start-ups are competing for funding, the ways to attract backers has also evolved over time.
Today, more than ever, it is important to improve how you communicate with possible investors and backers during your pitch, and crowdfunding video production is absolutely crucial to help achieve your desired results.
Your crowdfunding video is your campaign’s number 1 marketing tool. It gives a face to your project and is the first thing potential backers will look at when deciding whether to back you or not.
Kickstarter’s numbers tell us that 66% of successful campaigns use a video to communicate with the public and only 33% get a positive result without it, while Indiegogo sees campaigns that don’t include video have around a 110% less success rate than those that use video to pitch their campaign.
In fact, when it comes to marketing, video is the most effective medium to communicate a message to your audience. You can transmit huge amounts of information in a short time and in a more detailed visual way. Video has the power to appeal to human emotions like no other medium does.
A crowdfunding campaign has to be appealing in order to convince backers to invest their money in the campaign. A great pitch video will improve your campaign chances of success, however a poor video can ruin it. I can’t stress enough how important it is to present yourself in a professional way, so unless you are a video production professional, you should seek help and delegate this task to someone who is qualified. The success of your crowdfunding campaign will most likely depend on the strength of your video.
With the help of an experienced crowdfunding video production company, there are some principles that, when applied, will boost your campaign and set you on the road to achieving funding. In this article we gather some tips that may be helpful for you to follow if you want to have a video that is going to help attract backers and move your project forward.
• The video should tell a story, yours and pitch your idea. Because we are humans, and we all love a good story. Tell the viewers the reasons that led you to seek this path and how the idea came to your.
• Always be yourself in that video. Investors back not only an idea, but most importantly a person, so being genuine is key. Show your passion explain why they should support you.
• Determine how you intend to present your content to the crowd. In this point consider, dependent on your project and target-market, if you are going to be humorous or have a more serious tone, and to which emotions and reasoning you are appealing to.
• Remember that the first 30 seconds are crucial to capture the viewer’s attention and hook them. Try and deliver your ‘elevator pitch’ in this time frame. Our attention span is quite terrible. According to a Microsoft research back in 2015, our ability to focus has decreased to approximately 8 seconds, so 4 seconds less than in the year 2000.
• Most importantly, think very deeply about your product and what you are offering. Questions such as how you approach branding, who is the target-market, what makes your product unique. What is the pain point that you are resolving and why should backers invest in you are all questions that you should have answered to be able to prepare a compelling video.
To find out more about crowdfunding video production speak with an agency like wow your crowd.