Go to any crowdfunding website and chances are they’ll tell you a crowdfunding video will seriously increase your chances of getting funded. IndieGogo says campaigns with a video raise 114% more than those without, whilst Kickstarter have figured out campaigns with videos have a 50% success rate (and those without have just a 30% success rate).
So it seems you’ll need one if you’re serious about crowdfunding. But how should you go about it?
Sure, you could just repurpose your standard startup explainer video. But often, they’re not fit for a crowdfunding campaign. This is because your crowdfunding video should do something different. It’s not just about your product, but about you and your journey. Most importantly, it’s about why you can deliver on your promises. It’s the same reason you wouldn’t just give an investor your explainer video – it simply doesn’t tell them enough about why they should trust you.
So what should your crowdfunding video look like? In this article, we’ll talk you through the does and don’ts of a crowdfunding video.
What makes the best crowdfunding video?
What should a crowdfunding video include?
Kickstarter shared this basic format for Kickstarter videos, and it’s pretty solid:
- Introduce yourself
- Tell your story
- Ask for people’s support and explain why you need it
- Tell people what they’ll get for their money (i.e., your rewards)
- Say thank you!
No matter what site you host your campaign on, it’s a good idea to include this sort of stuff. That’s because you can’t sell on the product itself, because it probably doesn’t exist yet. You’re asking people to invest in a possibility. You’ve got to get them excited about that possibility…but also convince them that you are the person who can make it happen:
How long should a crowdfunding video be?
Again, this differs from an explainer video, which are normally 30-60 seconds. To get all the content you need into your crowdfunding video, it’s more likely to be around the 3-5 minutes mark. But that means you’ve really got to hook people straight away if you want them to watch the whole thing. The Kickstarter video for Exploding Kittens is a bit shorter than usual, but it definitely knows how to get you watching. Check it out:
If you take a look at the copy on crowdfunding campaigns, it’s often pretty long. With crowdfunding campaigns, the general rule is the more information you can include the better. With your video, the task is to present this information as compellingly as possible.
How much you spend on the video will depend on what you want. Do you want a live action crowdfunding video like Peak Design’s, or an animation like Exploding Kittens? It’s likely that even if you opt for the former you might need some motion graphics. Here are the things you need to consider in your budget and how your costs might break down (but these will vary depending on who you hire):
Actors: £200-£400 each per day
Scriptwriting and storyboarding: £50 per hour
Camera operators: £100 per hour
Editing: £75 per hour
Animation: £125 per hour or £1200 per minute of animation
Motion graphics: £75-£100 per hour
How should I get it made?
Poorly produced videos make it look like you don’t take your idea seriously. If there’s a voiceover, make sure the quality’s high. Any editing should be smooth and polished, and the camera work shouldn’t look like a scene from The Blair Witch Project. If you’ve gone down the animation route and you’ve never animated before in your life, save yourself the stress and hire an animator.
If in doubt, hire a pro. They’ve got the equipment and know what they’re doing. Remember – with the right video, the return on your investment could be huge. Your video needs to stand out and seriously impress if you’re going to succeed.
Case Study: Peak Design’s Crowdfunding Video
Still confused about how to make your video the best it can be? Check out Peak Design. They raised $4,869,472…From an original goal of just $100,000! Watch their pro video now:
1. Peak Design show they can deliver
Peak Design’s Kickstarter video is a great example of a believable promise to deliver. They’re also a fantastic startup who’ve received a lot of funding through Kickstarter. So what do they do right in this video and what can you learn?
- Past experience. they open with the fact that they’ve already launched 20 products with the help of Kickstarter backers. And although you probably can’t claim the same, there are other things you can share here, such as past success in your industry.
- A compelling story: they tell their company’s story in an engaging way.
- Social proof: they’ve got photography influencer Trey Ratcliff on board as a collaborator! This shows a genuine demand for the product.
- Personal qualities: “for ten months, three weeks and two days, we bled, sweat and dreamt about bags.” For a Kickstarter campaign being a hard worker is a really important quality to show off. People aren’t going to support a half-hearted founder when its their money at risk.
- Genuine thanks: there’s some lovely shots of the Peak Design team thanking their backers. Building a personal connection is essential for crowdfunding.
2. Peak Design show their product is worth investing in
Along with these personal qualities, they also really show off their product. This is something Kickstarter’s guidelines don’t emphasise enough; a compelling demonstration of your product is key. And Peak Design do it right:
- The problem: they demonstrate how current camera bags are inefficient, messy and bulky. They really bring this problem to life too.
- Their solution: they show how they spent 10 month designing the bag. This shows they’re not asking for money for nothing. Instead, the design is ready to go, and it’s clear the money will be used to manufacture and distribute the product. Know exactly how you plan to spend your money and demonstrate this in the video. You should only crowdfund when you’ve got a very clear idea of how your startup is developing and how your ideas will be executed.
- It’s revolutionary: “we had to reinvent every last part.” Make your product/service seem exciting and new!
- The features: the shots in the video really emphasise the bag’s features in an appealing way. It looks and feels professional.
Interested in animation for your crowdfunding video? Read this blog to find out exactly what your budget should be.
And if you’re looking for a quality solution for your crowdfunding campaign, find out why we’re the best place to get it.