What happens when you have a million dollar idea, but not a million dollars? You go online to raise money by seeking individual donations that can add up to a vision realized! It the basic premise of crowdfunding. Without platforms including GoFundMe, Indiegogo, and Kickstarter, we wouldn’t have the Veronica Mars movie or the Ostrich Pillow. While videos aren’t a required part of the process, the most successful projects have them. If you’re going to crowdfund, here’s why you need a video.
The Goal of Crowdfunding
The whole idea of crowdfunding is to tell people about your idea and compel them to invest. They provide the funding and you provide the reward, which can be any kind of incentive or the actual product you’re promoting. With a stated funding goal and deadline, you only collect the money if you reach your or surpass your total in time. If you’re going to put the thought and effort into a campaign, you may as well do whatever you can to cross the finish line. A crowdfunding video can boost the possibility of success.
- Ontario has 61 crowdfunding service providers, the most in Canada
- From 2011 to 2017, 10,000 Canadians tried their luck with Kickstarter
- Canada has the third largest number of projects on Kickstarter, behind US and UK
Include This in Your Video
If you visit the Kickstarter website, one of their project recommendations is to make a video. In fact, they made a video on how to make a video! Very Meta. The site says a video is the best way to let people know who you are and why you want to raise money. Here are some of the things you can include in your crowdfunding video to get noticed and get funded.
Promote yourself. Connect with your audience by letting your passion for your project shine through. If you’re working with a team, introduce them. If you’re excited about your project, you can get other people excited.
Promote your idea. Where did it come from? How did you come up with it? What’s your idea’s origin story?
Have a business plan. Showing potential investors things such as a timeline and budget make your idea seem like it can come to fruition. And it shows that you’ve put thought into how to make your venture successful.
Outline any supporting materials. Have you done research on your project? Is there a prototype? Are there people who have tried it and can give testimonials for your crowdfunding video? Is there an influencer or person of note willing to endorse your product?
Include strong visuals. It helps people understand what you’re talking about. Plus, it will stop people in their tracks when they’re perusing Kickstarter. You can also include infographics
Captions and subtitles make your video accessible to all potential donors.
Can you demo the product? Then do it!
Our Crowdfunding Videos
At Key West Video, we’ve worked with some pretty diverse crowdfunding clients, from custom caskets to a carry-all belt. This fall, we produced a video for Neat Jug.
We Can Help
When it comes to crowdfunding, a video can be the difference between reaching your goal and heading back to the drawing board. Remember to keep it short and help the viewer understand who you are and why your idea is worth their money. Key West Video can work with you to take your crowdfunding to the next level. Call us today for a free quote.
