Recently I helped launch our first crowdfunding campaign for our recent short film. This being our first time, I would love to know if anyone has had success with raising funding this way, or if anyone has any pointers on strategies that work?
Thank you.
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Good tip is to start gathering the crowd before you launch the crowdfunding campaign. Having champions beating your drum on social media is golden.
Also, keep at it with regular updates. Many campaigns fizzle out after the first few days and don't keep giving people more reasons to fund the project. Keep showing what you're going to do and what you and your team have done previously.
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Make sure you read RB Botto's Book on this very subject! Good luck!
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I agree, you need an audience before you launch... and really good perks and it helps to put some of your own (or friends and family’s) equity in...
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All of the above. Also, set you goal realistically according to the size of your social media community (family, friends, peers, etc) If you can expect 10-20% of the people you contact to pledge, that should help you set a realistic goal you can reach during the campaign. Also I'd go with the Indiegogo platform and a flexible goal, so you keep whatever you raise.
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Jack Binder I just got RB Botto's Book and will be reading it over the next couple of days. Thank you for the recommendation.
I've not read RB's book but I can say, I've not had any luck with Crowdfunding, nor have I witnessed first hand anyone who has had success with Crowdfunding over the last 3 years. My personal opinion is on crowdfunding is negative... but that's just my opinion.
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I think most successful campaigns are those financed through your network of fam and friends
RB's book turns the whole idea of crowdfunding on its head. It makes a huge amount of sense as the only way you're really able to connect with individuals in 'the crowd' (as opposed to commissioner/studio execs/film finance experts) is by building trust. And even then trust works wonders offline too with those in charge of the purse strings; that's why proven producers and directors get an easier ride.
I guess crowdsourcing (the act of creating trust) could be seen as allowing you to be the best you can be without artifice. Helping others to such an extent that when your ask comes people want to, would love to, help.
Happy to chat about strategies with you, Devin Teer . I worked for Indiegogo for five years on their biggest and best film campaigns (plus all the ones in between), and I've published this book (http://goo.gl/xZmls4) on the subject. (I've definitely got the most experience in crowdfunding for film than anyone. Feel free to hit me up here in a private message if you're looking to bring on a strategist for some in-depth insight.
And RB's book is fantastic, as Brian Freeston mentioned above, and a bulk of his research comes directly from my second edition of my book. :-)