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:
- 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.
- 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.
- 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.
- 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.
- A longer campaign doesn’t necessarily mean more money raised, but it does mean more work for you promoting it.
- 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.
- 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.
- 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.
- 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.
- 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.)