If you want to get your start-up off the ground, crowdfunding is your ticket.
Crowdfunding sites like Indiegogo and Kickstarter help budding entrepreneurs raise capital for their business.
These platforms literally receive thousands of campaigns each month. So, how do you make your yours stand out?
The simple answer to that is a kick-ass video. Platforms like Indiegogo even encourage this because according to their research, campaigns with a pitch video raise 4X more than ones without one.
When it comes to marketing your product/service, the importance of video is undisputed.
According to a MotionCue survey, 70% of marketers said that videos showed a positive ROI.
To help your campaign get the most attention, check out these videomaking tips.
1. Answer the right questions
Your investors and how they perceive your product should be your key priority when making a crowdfunding video. There are certain questions your investors might have that you must answer.
Here are a few:
- Who are you?
- What is your product about?
- Who is your target consumer market?
- What solution would your product offer to your target market?
- What is the unique selling proposition that makes your product stand out from others of its kind?
- What is the potential for profit and traction?
- Why should one invest?
Answering these questions are imperative to clarify your direction and strategy to your investors.
No one is going to invest in your campaign going in blind. You don’t want the investors thinking that your business idea is a ship venturing into the ocean without a GPS.
Here is how Chip answered all these questions for their investors in a fun and charming.
2. Everyone loves a story
While making a crowdfunding video, storytelling is your best bet. In addition to grabbing your viewer by the collar and commanding attention, a story is the best way to convey your message.
There can be several ways you can frame your story. You can talk about what compelled you to pursue this business idea. You can also talk about what this venture means to you.
Additionally, you can use the show-and-tell technique by using visuals to tell people how you do what you do. A well-told behind-the-scenes story is loved by audience and investors alike.
Work your narrative through some powerful storyboarding and build trust in your audience.
A great example of this is Made in Hackney. With very minimal budget, they have exhibited what a huge impact they are making in their community. It moves the audience to want to help them in their next phase.
3. Be mindful of the length
While making a crowdfunding video, you want to deliver your value proposition before you lose the attention of your audience.
“Why should you invest in my idea?” This is a question you need to answer for your viewer before the first 10 seconds of your video are over.
In order to do that, you must have a clear-cut branding proposition because it summarizes everything else your viewer wants to know.
It also serves as a hook that convinces your viewers to keep watching your video. The ideal length of a crowdfunding video is 2 to 3 minutes. You want to deliver your idea in the first 30 seconds and the final punch in the time that remains.
And you want to do them both loud and clear.
4. Set a tone and stick to it
The tone of your video is one of the most pivotal aspects of a crowdfunding video. It depends on the kind of product or service you want to sell.
Essentially, the tone of the video should be the mood or emotion that you want to extract from your viewer. It can range over a variety of moods from humorous, heartwarming, peppy, inspirational and serious.
Really just depends on what your product or service is about. However, ingenuity and sincerity are the key ingredients in the mood of your video.
One thing you have to be absolutely sure of is that everything from the script to the visuals to the music, should be consistent with the emotion you want to evoke.
Atari invokes a sense of nostalgia in the viewer and maintains it throughout their crowdfunding video.
Pro tip: avoid using vocabulary like ‘help’. You don’t want to sound needy. Instead use words like ‘contribute’, ‘invest’, ‘become a partner’ and so on.
Tempt potential investors by saying that together, you can make something spectacular.
5. Stay true to yourself
This is a common advice that all crowdfunding platforms and investors give alike. When someone backs your idea, more than the business, they are investing in the person behind it. So be yourself.
And if you’re going to create a live-action video for your business, avoid hiring actors if you can. It is better if you use your business’s core team to star in your video because it seems more authentic.
6. Structure your video
You might have noticed all successful crowdfunding videos have a certain structure to them. Learn from what structures have been the most fruitful in the past.
This is the conventional structure of a good crowdfunding video.
- Introduction: Introduce yourself very briefly. The “Who” of your start-up.
- Problem: Identify the problem that you are trying to solve and explain why your competition has not solved it yet. You can also tell your viewer about the motivation behind this venture. This is the “Why” part of your video.
- Solution:Explain to your audience how your product or service is going to address the problem. In doing so, you will acquaint the audience a little more with it. This is the “How” part of the video.
- Call to action: Save your message from getting fizzled out and capitalize on it by inserting your call to action as soon as you have explained how your solution works. Hit it when it’s hot. A CTA also makes your audience feel like they are part of your team.
7. Be realistic and personable
While shooting your crowdfunding video, set a realistic goal and stick to it. There is nothing more effective than reality.
Formulate a story and figure out how to execute it in the budget you have available to you.
In addition to being realistic, you want to be personable. Make sure your story humanizes you to the audience. Tell them who you are as a person and as the creator of this idea.
People like to invest in people rather than missions and projects. Be clear why you created this venture. For an investor to invest in your idea, they need to be in love with it first.
Here is how Volterman did it.
8. Make your thumbnails descriptive
Most crowdfunding platforms allow you to choose your thumbnail.
There is a lot that depends on using the right thumbnail. So, make it tempting to click on and aesthetically pleasing.
Here’s an example from Baubax’s Kickstarter video campaign for their travel jacket. It lays out all the cool features this product has to offer.
The intent here is not to tell everything your product has to offer right away but to make the on-looker think, “Wow! That looks like a lot. I want to find out more.”
That coupled with the images works really well in creating an appeal.
9. Use the right music
Don’t underestimate the value good music can add in setting just the right tone for your video and getting people excited.
Make sure it aligns with the overall theme and doesn’t overpower your message.
A successful crowdfunding video does not have to be an extravagant production.
All that matters is the content and the quality of the message you are trying to get across.
To give your campaign the best shot at success, I’d recommend working with video production professionals to create your hero video.
The right agency can help you flesh out your ideas and you’ll end up with something spectacular.
So, go ahead, kick-start your crowdfunding campaign with video. You won’t regret it!