How to Make Your Crowdfunding Video Successful?
Raising funds for your dream project can be daunting. Getting into debt means you have to carry the burden of payback or sell equity which leads to losing a chunk of your company. Especially in the beginning stages, when your idea is nascent, an investor may take a substantial stake in your company in return for capital.
You may consider getting help from close friends and family who may lend or gift funds for your business venture. However, not everyone may have such an opportunity; some believe this is risking harmony with your close ones.
So what could one do?
The world wide web is about possibilities. Welcome to the world of crowdfunding. Today you have various platforms that allow you to share your ideas and get funds. How do you do so in a convincing manner?
A video helps you best.
What is a crowdfunding video?
$17.2 billion is generated yearly through crowdfunding in North America. Crowdfunding is a significant source.
EOS, a cryptocurrency, raised over 400 million dollars from their campaign.
Elios motors raised over 100 million dollars. Not that you have to do all the tech stuff to raise money - the author Brandon Sanderson raised over 40 million dollars for his series of novels.
So what is a crowdfunding video again?
It is a video showcasing your new product that is being developed.
The video aims to convince potential supporters to co-fund the product.
Why do you need a Kickstarter video?
Projects with videos have had a success rate of 54%, while ones without have had a success rate of 39%.
The above stat is a convincing and compelling one. Videos add far more value to your crowdfunding pitch. Videos are the next best thing to demonstrate your idea in person.
According to the Kickstarter Platform:
Video is the best way to communicate the emotions, motivations, and character of a project and the sincerity and seriousness of the creator.
- Video can show the essence of the idea
- Video makes it a sensory experience
- Video help bond with the creator
Tell your story
Storytelling is crucial. Stories give a background, a context, a reason to invest, and an emotional motivation. Trying to convince people rationally requires more time and a stronger argument. Your idea may not make sense owing to its revolutionary nature. There may be no parallel example to demonstrate your concept's worthiness. In such a situation, a rational approach seldom helps.
Stories build trust. A good story helps the audience relate. Using an emotional roller coaster opens your journey to the audience, and soon, you will find them on your side.
Adding personal information to your campaign could get you 79% more backers.
Draw from your struggles and your inspirations to build a narrative. Be sincere and open; authenticity is the backbone of a compelling story.
Your product is the hero of your story. Before you start shooting:
1. Spend some time with the crew and plan in advance.
2. Identify the best aspect of your products.
3. Look into two main categories: the visual and the functional.
Prepare a storyboard and ensure that you capture all the vital elements. While you may want to show some details and get a closeup, providing a broader context is essential. Too many close-ups may confuse the audience.
Offer a solution - benefits over features
Yes, we fall in love with our products. All the hard work and the numerous hours make us emotionally invested in the development. However, do not have the exact expectations from the audience.
You have to tell the story from their perspective, how the product adds value to their life. One way of achieving this is by prioritizing benefits over features. Instead of providing all the bits and bytes, narrate the net impact.
Instead of talking about the chemistry of your material, talk about what it does for the audience. Use simple, relatable examples. Instead of writing that your briefcase can hold 100 kg of pressure per inch, say something like an elephant could stand on it.
People need to be able to imagine your words in pictures, and then they will relate.
Do not be shy from getting personal. Use a language that is your audience's speech. Find relevant touchpoints from the lives of your potential audience and use them. Use your product to evoke emotions through benefits over providing technical information.
In this information age, it is best to be authentic and sincere. Do not go overboard with your claims. Ending up with promotional material that is too good to believe will do more harm than good.
Use some tips to ensure that you appear genuine. A great example would be looking potential donors in the eye will mean receiving more pledges.
Always be clear about what you want from the audience. A strong video will prepare your audiences to act, but you must take care to define clearly and simply what you want them to do.
If you have that great idea that you think will make the world a better place and all that is stopping you is some initial funding, consider crowdfunding as an option.
We will help you make an impactful video that will deliver, write to us at email@example.com to know more.