Crowdfunding is a feasible and accessible alternative for individuals, regardless of their cause, to solicit lump sums and highlight their projects to the masses. This phenomenon has taken the world by storm, setting up to be a primary source of financing for individuals to take their projects to the next level. Moreover, the adaptability and flexibility of the crowdfunding market are yet another assurance why it continues to transcend expectations.
Unfortunately, crowdfunding isn’t easy money or luck. The harsh truth is that only one out of five projects profit from a successful crowdfunding campaign. Running a successful crowdfunding campaign isn’t easy. Instead, it requires prior preparation, zest, proper marketing techniques, and, importantly, generating enough buzz before launching a campaign.
In sum, without the proper pre-launch strategies, a crowdfunding campaign can turn out disastrous, futile, and a waste of resources. An ideal pre-launch strategy is creating videos that sell your story, build awareness, and arouse inquisitiveness around your product/idea. Crowdfunding videos make solid connections with your target audience, bolstering your chances of running a successful crowdfunding campaign.
So, how can campaigners leverage this crucial and effective strategy to ensure their crowdfunding journeys garner optimal success. Here are the top tips for creating successful videos for your crowdfunding campaign.
Top tips for creating successful videos for your crowdfunding campaign
Indiegogo statistics show that pitch or promotional videos campaigns raise substantial funds (four times more) than campaigns without. Similarly, 66% of successfully funded Kickstarter projects had uploaded or embedded YouTube, Soundcloud, or Vimeo videos. However, it goes beyond making videos. Your crowdfunding video must be of high standards, authentic, and connect with your target audience.
Here are the best practices for ensuring your videos are effective and grab backers’ attention.
Introduce yourself and get the perfect script
Most of your potential backers won’t have the opportunity to meet you in person, yet they will demand to know the person behind that innovative idea/product. Therefore, it’s prudent to introduce yourself and your relevant credentials. Build credibility and legitimacy around you, the product and the story.
Tell a compelling story about the origin of your product/idea. The utmost priority should be grabbing the viewers’ attention from the beginning to the end of your video. A memorable and promising starting line, accentuating your story and explaining how your project will impact people’s lives hook audiences.
Create high-quality videos
In rare cases, or none, will the target audience watch through a 144p video quality. Moreover, poorly filmed videos create a horrid first impression. As such, it’s paramount to invest in video production quality. Furthermore, high-quality videos tend to attract more audiences.
The good news is long gone are the days when one needed expensive, hi-tech equipment to make high-quality videos. Instead, it’s possible to shoot high-quality devices with your iPhone or Android device as long as you ensure the lighting and sound are working correctly.
Also, you can invest in a tripod and clip-on microphone to optimize your video’s quality. Not to forget, filming in a well-lit room with the perfect lighting. As a rule of thumb, it’s best to always position yourself 45 degrees away from the lighting source to avoid creating videos with glare.
Your video’s sound quality is a critical aspect to get hold of. First, some people might scroll down while listening to the audio. Therefore, it’s best to have an exceptional sound free from ambient noise. Also, in case you are filming outdoors, make sure you have adequate wind and weather protection for your equipment.
Ultimately, the goal is to create top-notch videos compatible with most devices. What’s more, with substantial funds, you can hire a video production company to create the perfect crowdfunding video.
Less talk and illustrate your idea/product
This is especially helpful if you have working prototypes. Your target audience will be more intrigued to see working prototypes instead of the yadda yadda yadda of how they operate. Avoid explaining too many details and, instead, have a written description of your product on the campaign page. Your crowdfunding videos should focus on your products.
Including closed captions on your crowdfunding videos makes your campaign social media-friendly. Also, individuals can watch your videos without turning on the sound when in public or noisy environments. In addition, some background music will enhance your video’s quality.
Keep it brief
Your crowdfunding video must be short, memorable, and straight to the point. Most people have short attention spans, and creating a long video exceeding 3 minutes will end up losing your audience. Avoid being overly wordy and using long sentences. While keeping your video brief, don’t speak too fast.
Talk about rewards
One of the ways to keep your campaign viral is by motivating your audience to be a part of your project. Therefore, be passionate and enthusiastic about your idea to inspire your potential backers. Even better, be strategic about your reward program. Regardless of your crowdfunding type, you will motivate your audience to contribute to your cause with incentives. Even if it’s donation-based crowdfunding, it would be best to send a grateful message or a shout-out to your backers.
Invest in editing and post-production
Every element of editing and post-production of your crowdfunding videos enhances the overall story. It’s the key to blending images and sounds, connecting the audience emotionally, making them feel like part of your journey.
Consider outsourcing video editors or seek out professional video editing companies to turn your raw footage into a compelling and engaging masterpiece.
What to avoid in your crowdfunding videos
- Avoid violating copyright laws. Only utilize royalty-free content such as background music, graphics, and pictures.
- As already outlined, it would be best if your videos didn’t surpass three minutes.
- Making a fantastic video isn’t a guarantee that you will attract investors. Instead, you must mass market and share your campaign through social media.
- Not everyone you are reaching out to has the knowledge base in your niche; therefore, avoid using complex terms and jargon.
- Don’t focus too much on yourself. Provide an overview that justifies you as the right person to run the campaign. Also, don’t beg for funds.
- Most importantly, avoid imitating other successful campaigns.
It might take some time before getting your crowdfunding video to be perfect and appealing. Nevertheless, it’s vital to create captivating, well-edited videos that narrate a compelling story behind your idea/product for investors to be interested in your campaign.