Posted December 10, 2012 by Steve Young
Crowdfunding is HUGE. Websites like Kickstarter and Indiegogo have revolutionized the way a company, artist or individual can get the funding needed to get their project off the ground.
Instead of relying on institutions with impossibly tight guidelines and no understanding of the online world that were all connected to, crowdfunding lets you take your project directly to the masses.
By exposing your idea to millions of potential investors, your chances of finding enough people that want to invest in your project are definitely in your favor.
But how do you make sure that your message is having the most impact? Simple, use a video.
Popular crowdfunding site Kickstarter estimates that the success rate of pitches with video is about 50 percent, compared to just 30 percent without.
And Indiegogo estimates that campaigns with video pitches raise on average 114% more than campaigns without video.
Nothing sells an idea like video. You can personally pitch your idea to your audience. Not only do they get a personal introduction to your idea, but they also get to see firsthand your enthusiasm and positive, can-do attitude.
Here’s the video of the Pebble watch which has over $10 million in funding on Kickstarter.
Not every pitch that has a video will get funded, but there are a few guidelines you can follow to help ensure that your idea does. Here are 5 crowdfunding video tips to help you get more funding.
- Be brief: Nothing will kill a viewer’s interest like a long drawn out sales pitch. If it takes you more than a few minutes to lay out your entire idea, you need to refine your approach. Get to the heart of the idea right away. Viewers have short attention spans and won’t wait forever.
- Images speak louder than words: Isn’t that the reason you’re using a video in the first place? Don’t describe something in words when you can show it with pictures. If people want words, they’ll read something. The trick is to combine your narrative with great imagery that captures your idea and presents it to your viewers in the simplest form.
- Answer the 5 questions: Every viewer who watches your pitch will have the same five questions: Who? What? Where? When? Why? Your video needs to answer each of these questions as clearly as possible. Tell your views who you are. Tell them exactly what your idea is. Tell them where it is or where they need to go to get it. Tell them when it will be available or when the event happens. Most importantly, tell them why your idea needs to work.
- Get some face time: Sure, your viewers want to see the idea, but it’s important that they also see the people behind the idea. That’s who they’re counting on to use their funds to make the idea come alive. Don’t hide from the camera. Step into the limelight and pitch your idea face to face.
- Open with a bang: Capture your audience’s attention immediately. Don’t use a long drawn out introduction. Starting your video with powerful imagery or a personal presentation of your idea will help ensure that you capture your viewers’ attention and get them interested right from the start.
Photo credit: Scott Beale
About Steve Young
Steve Young is the Director of Product Marketing at SmartShoot. He enjoys writing about marketing, design and product development. Although he shares the same name as a famous quarterback he unfortunately does not share the same bank account, so please throw him a bone and share or comment on his posts. Connect with him on Twitter and Google+.
Keep in touch: @stevepyoung