UPDATED: MONDAY, JUNE 1, 2015 –– Not your grandpa’s “Three Ps” anymore!
BEFORE YOU READ THIS POST, in which you’ll certainly learn the basics of running a very successful crowdfunding campaign using my “Three Ps” of crowdfunding, I want to let you know that I have a brand new post over at Medium, with an all-new (similar) set of ways to crowdfund an indie film. It’s called the “Three Ways to Let Your Crowd In,” and those three Ways are the Invitation, Incentives, and Interactions.
But whether you use my “Ps” or my “Ins,” you’ll still be on the Path toward a more successful campaign, and another step closer to making that indie film burning in your veins a reality. Happy reading!
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Long before I became Indiegogo‘s head campaign specialist for film, I was given multiple opportunities to step in for the company’s CEO and co-founder Slava Rubin and give a presentation on crowdfunding sponsored by New York Women In Film and Television (NYWIFT). Though the seminar was primarily focused around grant writing and more traditional ways of getting money for films, more of the attendees seemed ready to merge onto the more active freeway of crowdfunding rather than take the passive back roads of grant writing.
If a Buddhist, a Confucian, and a Taoist each tried to crowdfund an indie film, which would be most successful?
Although crowdfunding has been around for years now, it’s still the buzz word amongst the indie film community. The only real issue I find with crowdfunding is that far too many people jump headfirst into a campaign without the proper knowledge of how it all works and without a carefully plotted outline. Specifically, there are things that every filmmaker should be aware of before embarking on a crowdfunding campaign, things that have been proven to work, not only for my short film Cerise, but for many other, more recent projects as well.
That said, there are three aspects of crowdfunding that should be thoroughly sketched out before your campaign goes live: a proper pitch, personalized perks, and plenty of promotion –– what I call the “Three Ps” of crowdfunding.
A PROPER PITCH: BECAUSE FIRST IMPRESSIONS ARE EVERYTHING
Your pitch is the single most important part of your campaign because it’s the one and only chance you have to sell yourself and not necessarily your project. Talk to your potential contributors. Tell them about yourself (the introduction), then tell them why you want to make this film and why they should help (the pitch). Keep in mind the “they” –– we may think that crowdfunding is about us, but the word “I” isn’t a part of this neologism; it’s all about the crowd, so make it about them. Finally, show them that you’re not a newb when it comes to filmmaking by displaying some of your prior film work (the showcase).
A mistake that many crowdfunders make is not appearing in their pitch video. The truth is YOU MUST APPEAR IN YOUR PITCH. Not many people will give money to a photograph or a movie trailer. People give to other people. No one likes to ask for money, it’s true, but the least you can do is ask your potential contributors as personally as possible, and in this case, your pitch is as personal as it gets.
Many of you have probably seen my pitch video for Cerise, which got the attention of Indiegogo’s other co-founder Danae Ringelmann, and in turn she gave me the additional, last-minute confidence I needed to actually go live with my campaign. If you haven’t seen it, check it out below:
Back then, crowdfunding was young, and my pitch for Cerise was cited as a model of what a solid pitch video should be. Compared to the ones I’d researched back then, you could say that I went the extra yard with my video, actually shooting short scenes to illustrate my perk levels and such. Today, though, filmmakers need to up their game
Here’s a more recent pitch video for a Canadian indie film called The Etiquette of Sexting, and when I first saw it, I started laughing immediately, not only because it’s a hilarious comedy about a guy’s first tryst with sexting after a bad breakup, but because the video followed the four basic elements of a pitch:
- The Introduction: an short intro into who the filmmaker is, starting with her or his name, of course.
- The Pitch: a short description of the film (logline) and why the filmmaker’s coming to the crowd (purpose) and what he or she has on offer (perk mention)
- The Showcase: proof that the filmmaker is, in fact, a filmmaker
- The Call to Action: The moment when the filmmaker tells us what we need to do to help out.
See for yourself how the filmmakers put together this stellar pitch:
Your pitch can be as straight-forward as Jeanie’s, or you can have a bit more fun with it and still be gearing it towards your potential contributors, the way Lauren Mora did in her pitch video for Misdirected, which certainly helped her raise $1,000 over her initial goal of $5,000.
As crowdfunding evolves, the more creative you can get with your pitch video, the better. Just check out this amazing pitch for Kenny Gee’s Singaporean short film The Body, which not only pitches the campaign in a fun and unique way, but also showcases the filmmaker’s talent.
PERSONALIZED PERKS: BECAUSE CROWDFUNDING ISN’T ABOUT YOU
This is really the basis of crowdfunding –– you give me money, you get something in return, and the way I see it, there are three types of perks you can offer up for your indie film’s crowdfunding campaign:
- standard definition (sd): what I call “The Mandatories” –– digital download, DVD/Blu-ray copies, social media shout outs,
- High Definition (HD or Hi-Def): Experiential perks, such as producer credits, special thanks, dinner with directors, Skypes with actors, Instagram and vine videos, invitations to the premieres, and VHX streaming
- Three-Dimensional (3-D!): Personalized perks, which I define as any perk that seeks to bring contributors to the campaign deeper into the world of the film, must the way 3-D movies brings us into the film
Now while there’s nothing wrong with offering sd and HD perks, it’s much more meaningful to funders when campaigners think outside the money box and GET PERSONAL WITH THE PERKS on offer. A strong example of a 3-D! perk is the acrostic poem perk from my campaign for Cerise. Originally, at the $10 perk level, I offered a shout out on Facebook and Twitter. Then my girlfriend at the time (fiancée now) and marketing mage Marinell suggested I write each funder a poem. I’m a poet, yes, and Cerise is a film about words, yes, but like Dudley Randall once wrote, a poet is not a jukebox! My biggest concern was “what if I have to write, like, fifty poems?!” Well, I ended up writing over 100 poems, which Marinell beautifully formatted and posted on our funders’ Facebook walls to their surprise and delight.
My acrostic poem for Cerise funder Giselle Del Oro.
Another example is the short film Sync, which found success on Indiegogo through a masterfully executed campaign spearheaded by filmmaker Brendon Fogle. He started out with one of the typical perks –– stickers (very cool ones at that), but went the extra mile in his perk descriptions (it’s okay to get creative when asking for money, trust me!) Here’s an example:
Kudos for upping the nostalgia factor with “Trapper Keeper”!
Yet another of his perks was titled “33 1/3 RPMazing: $33” and this was where we got a glimpse into Brendon’s world, because at this level he sends you a record from his personal collection! I’m actually a very proud backer of Sync, and I was originally going to contribute at the $12 level so I’d have some money left over to finally join Pearl Jam’s Ten Club. Then I saw the $33 perk in all its coolness, and I just had to click “Contribute Now.” (Sorry, Eddie! Next year, perhaps.)
But Brendon didn’t stop there. Keeping with the theme of vinyl (the story of Sync revolves around a grandfather trying to connect with his MP3ed-in grandson through the gift of records), my favorite of his perks turns a photo of one of his mild-mannered funders into a super hip album cover from the 1960s using a process he calls “The Blue Note Treatment.”
Here’s a photo of me that Brendon gave “The Blue Note Treatment” as a test, and boy do I dig it, daddy-O!
From perks that hearken back to the old days to perk dollar amounts that reflect record RPMs, it’s that fine attention to detail that funders want to see. So go the distance and make every aspect of your perks count for something special.
The Kickstarter campaign for Hybrid Vigor, which raised $57,237 of its $50,000 goal, offered up one of the most personalized perks I’ve ever seen, one that not only ties into the film itself, but ties the contributor almost literally to a piece of the movie: For only $1, your face would become part of the official “photomosaic” movie poster for Hybrid Vigor:
You’d expect to contribute at least $25 for this perk. Nope. Just a buck!
And most recently there was the Indiegogo campaign for HELLO, HARTO!, in which YouTube star Hannah Hart decided to crowdfund so she could take her hit show “My Drunk Kitchen” on the road. Because Hannah had gotten proposed to numerous times in the comments section of her YouTube channel, she decided to offer e-certificates of polygamous marriage to anyone willing to contribute $25 to her campaign. $223,007 later on her humble $50,000 (which she reached within the first six hours of her launch) and she’ll be coming to a kitchen near you.
Hannah’s certificate of e-polygamy and some of her other highly personal perks.
The list goes, so I’ll end this section with one of my all time favorite perks that I’ve ever received, which is this ukulele song by Tim Sparks when he was crowdfunding his short film Around Here on Indiegogo. I mean, it really doesn’t get much more personalized that a song about the funder. And for $20?! Easy money!
PLENTY OF PROMOTION: BECAUSE CROWDFUNDING IS JUST ANOTHER WORD FOR MARKETING
I’ve said it at the Apple Store in SoHo, I said it again to the packed house of the NYWIFT event, and I’ve written it down in my very first crowdfunding-related post “Read Me Up Before You (Indie)GoGo!” and numerous times in my book Crowdfunding for Filmmakers –– CROWDFUNDING IS A FULL-TIME JOB. Anyone who tells you otherwise must not have had a very successful campaign.
A successful crowdfunding campaign demands around-the-clock promotion. In today’s technocracy, that translates to constant tweets, relentless Facebook status updates, email blasts up the wazoo, sleep strikes, the occasional hunger strike, and any other means by which to keep your project on the minds of your friends, family, and supporters. It also means having some fun with your promotion, keeping your audience engaged with things like contests, giveaways, fun videos, and the like. Brendon sure had fun with his video updates for Sync:
I’m sure many people worry about the rejection that may result from a campaign with a strong social media presence. But really, it all depends on how you tackle your promotion. If that’s all you’re updating your status with and you’re not having any conversations on Twitter other than ones with #MyProject appended to them, then yes, you’ll most likely lose followers and friends very quickly, and rightly so –– there’s a fine line between promotion and spamotion. Don’t cross it.
Or, if you do cross it, do it with tact. For instance, with Cerise, I took a chance that I was sure would end badly. When I wasn’t getting enough “Likes” and “Comments” (and, by extension, not enough contributions) from my friends on Facebook by simply posting the link to our Indiegogo page on my wall, I started to post the link directly on my friends’ walls with a bit of small talk and a humble request for their support. To my surprise, I received plenty of contributions using this tactic, and only lost one friend and, ironically enough, gained over 300 more by the end of the campaign. It all depends on how you come across in your promotion, like a company or like a person.
Take Steve Anderson’s ingenious (and fun) promotion for his Kickstarter project This Last Lonely Place. In between more standard promotional tweets, Steve infuses famous movie lines with a “Kickstarter” flare:
These “Famous Kickstarter Quotes” keep Steve’s crowdfunding fresh and fun with every tweet.
In fact, it was these “Famous Kickstarter Quotes” that helped Steve attract the attention of one very influential supporter –– The Humphrey Bogart Estate –– which not only contributed a substantial amount of money and support to the campaign for This Last Lonely Place, but also matched every contribution to the campaign itself up to its $75,000 goal.
PERSONALIZATION: BECAUSE PEOPLE GIVE TO PEOPLE, NOT TO PROJECTS
And this brings me to the final P of crowdfunding (I know, I said there were only three, but only because this last aspect of crowdfunding was woven through each of the others I mentioned) –– Personalization. That’s perhaps the biggest difference between traditional ways of funding a film and crowdfunding; investors invest in projects, while people invest in people. That’s probably the most important thing to walk away from after reading this blog post aside from a few helpful tips that have been proven to work from a handful of victorious projects: PERSONALIZE EVERYTHING IN YOUR CAMPAIGN. The spirit of your pitch, your perks, and your promotion should be YOU as a person; give to your potential contributors a piece of you, and they’ll give you more than just a part of their paycheck. They’ll give you the power you need to really succeed!
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Any crowdfunding stories or tips YOU’d like to share? Write them up in the “Comments” section below and perhaps I’ll be able to work them into future guest posts for the Indiegogo Blog or my “Crowd Reign” blog over at Indie Reign.