Top Ten Crowd-funding Tips

This little piggy went to Kickstarter…

To finish my look back at the decisions, successes and failures of the Stop/Eject crowd-funding campaigns, here are my ten top tips based on the sum of our experiences on this project:

  1. You need “elements” – aspects of the project which have an existing audience base, such as a name actor or a director with a strong social media following. Sometimes people will donate because the film is being shot in their home town, or maybe it’s about a subject they have an interest in. Whatever it is, figure out where that existing audience base is and what they want, and create your rewards and promotions accordingly.
  2. Work out in advance how much your rewards will cost to produce, and reject any that aren’t cost or time efficient. I suggest they should consume no more than ten percent of your budget.
  3. Make your pitch video professional – tightly edited, well lit, well shot and with broadcast quality sound. No-one will sponsor a filmmaker who can only be bothered posting a five minute ramble shot on a webcam. Your “elements” should appear in the video.
  4. Whether building your own crowd-funding platform or using an existing one, make sure it’s extremely quick and easy to donate, with a minimal number of clicks.
  5. A longer campaign doesn’t necessarily mean more money raised, but it does mean more work for you promoting it.
  6. If you take a day off from promoting your campaign, people will take a day off from donating. You cannot sit back and expect the money to roll in. It doesn’t work that way.
  7. Keep reminding people about your campaign, but do it indirectly by publishing new content like blogs, behind-the-scenes videos or storyboards. Most sponsors will have to see your campaign several times before deciding to donate.
  8. The internet isn’t the only way to promote your campaign. Go to events in the real world and plug it. Take a donations bucket or hand out cards or flyers with the campaign address on.
  9. Make people feel involved in your project, both during and after crowd-funding. Run competitions, invite feedback on things like poster designs, issue updates and answer questions.
  10. The endorsement of a well-recognised person or entity can give your campaign a massive boost. BBC Midlands Today putting a Stop/Eject report on their Facebook page worked for us, but the holy grail is getting a celebrity to retweet your campaign link.

If you’re still hungry to learn more about crowd-funding, check out James J. Heath’s Top 5 Crowd-funding Mistakes and Indiegogo’s Field Guide.

(Links to previous parts of the evaluation: part 1, part 2, part 3, part 4, part 5, part 6, part 7.)

Top Ten Crowd-funding Tips