For startups, raising funds for a planned venture has become significantly smooth with crowdfunding platforms such as Kickstarter and Indiegogo.

Kickstarter reportedly hosts thousands of startup crowdfunding campaigns and to date it has backed 175,674 projects successfully, supporting an approximate number of 12 million people.

Crowdsourcing platforms receive tons and tons of startup ideas every month so the territory is crowded to say the very least. To stand out against your competition, having a captivating campaign is one of the most powerful elements.

Moreover, with Kickstarter and Indiegogo having an all-or-nothing proposition, the pressure to create an emotionally captivating campaign that results in the appropriate number of pledges becomes very real. Evidently, startups on these crowdfunding platforms have found creative ways to get people enthused about their projects.

Read more: Kickstarter Video Production for a Winning Campaign

Video, being the most intriguing and versatile media type out there to reach your audience, has become a very popular trick amongst startups. Experts say that if there is anything other than your product that can make or break your crowdfunding campaign, it is the video you create.

Forget experts, let’s take a look at numbers. According to Indiegogo, campaigns with videos are 114% more likely to generate funding.

Kickstarter’s statistics mirror the same outcome. Studies at Kickstarter suggest that campaigns with videos are 85% more like to meet their funding targets than non-video campaigns.

A captivating video is the richest storytelling medium in existence and realizing this fact shouldn’t come as a surprise since video has a plethora of quantifiable benefits, such as:

  • Information transmitted over video takes less time and is easily digestible.
  • 92% of businesspeople watch videos.
  • Conversion rates surge to about 80% upon the inclusion of videos.
  • 81% of marketers leverage videos as a part of their content marketing strategy.
  • 80% viewers remember a video ad they have seen in the past month.

Stats for best crowdfunding videos

Read more: How the Video and Social Media Bond Fosters Engagement

Yes, it’s impressive what a video can do. However, jumping to the conclusion that any video can work would be a huge ordeal. The video that you create should have the potential to go viral or at the very least, compel its viewers to invest in your project.

So, what’s the secret to creating a captivating crowdsourcing video campaign? Here are 7 tips to consider:

1.     Be yourself

If you have seen enough crowdfunding videos, then you probably would have come across stale personalities and seemingly unauthentic people. With the stakes of crowdfunding campaigns high, the pressure to perform well increases, which is why some people resort to tactics that end up making them look like they are putting on a show.

However, crowd-funders want to see your personality and hear your great idea. What they don’t want to see is someone on-screen speaking with no conviction.

According to the Noble Prize holder psychologist Daniel Kahneman, people look for some sort of association with the product’s developers. Therefore, the key to a kickass crowdfunding video is to not lose sight of yourself.

Being original will give you the confidence to believe in the things you say and come off as authentic, ultimately influencing funders to invest in your idea.

2.     Make the first 30 seconds your focal point

In this era of dog videos and 10-second memes, viewer attention is a scarce commodity. A study conducted by Microsoft shows that humans have an attention span of 8 seconds – a second less than that of a goldfish. This stat goes to show the significance of capitalizing in the first 30 seconds of the video. What this means is that there really is no room for a slow start.

The first 30 seconds of a video is the most crucial which can make or break your campaign. Be sure to keep this short timespan interesting so as to not lose your viewers before you get the chance to encapsulate important information.

According to RhythmOne Insights, video ads below 30 seconds are 88.3% more than likely to get completed.  Therefore, ideally in the first 30 seconds of the video you should:

  • Hook the viewer
  • Show your product
  • State product benefits

These early actions will lure your viewers to watch the whole video, and ultimately allowing you to hit home.

3.     Get the length right

Experts suggest that videos that garner the best engagement on crowdfunding platforms are typically less than 3 minutes. The shorter the video, the better the chances are of people watching the whole thing.

Keep in mind, video is just one element of the whole crowdfunding campaign. So, if you want to add more information, use the rest of the page to get into the nitty-gritty.

However, one thing that you should remember is that even though most statistics point out to shorter videos being the most beneficial, what might work for one campaign, might not work for you.

So, if you feel like having a go at a 7 or 8-minute-long video will give you an edge then you can use analytical tools to see how far your audience makes it through your video. These analytical tools can be integrated with various video hosting platforms such as YouTube, Vimeo, etc. and they will give you irrefutable intel on the optimal length of your campaign video.

4.     Tell a story

Brushing up on your storytelling skills is going to come in handy while crafting a video for a crowdfunding campaign.

Seth Godin once rightfully said, “Marketing is no longer about the products we sell, but the stories we tell.”. Nothing hits the audience on an emotional level like a well-told persuasive story. In fact, the most successful crowdfunding campaigns are the ones that tell a story.

The first step towards telling a story would essentially be an introduction. It is easy to get carried away when you start talking about yourself and your relationship with the product, but it is important to remember to be crisp and to-the-point.

Next up, explain the importance of the venture. Answer questions like: why did you pursue this business idea? What does it mean to you? What are your concerns relating to it?

You want your potential backers to get hooked, which is why you want your story to be as real as it can be.

5.     Talk about rewards

Crowdfunding platforms such as Kickstarter or Indiegogo are congested territories where thousands of people pitch their ideas every month, looking for investors. Therefore, it is important to mention the rewards they will receive in exchange for their investment.

While we do encourage talking about incentives in your video, we would advise against mentioning too many at once. Instead, talk about a few really good ones and enlist the rest at the product description page.

6.     Show, don’t tell

In December of 2017, Star Citizen, a video game broke all records when it raised $173,721,880 and became the highly funded crowdfunding campaign. The game wasn’t even coded at the time it shattered all conceivable expectations but still had more than just a promise to show to its backers.

Likewise, if your product is in the pre-seed stage, demonstrate its prototype. Seeing is believing, which is why consumers need to look at your product before they part with their money.

Animation is also an excellent way to show what your product would look like when it comes to fruition.  When your audience sees how dedicated you’re to turn your imagined product into reality, they will get behind you.

7.     The Ask

Don’t get too caught up in crafting the initial phase of your video that you forget talking about the call-to-action. Remember, the number one goal you want to achieve with the crowdfunding video is to get investors for your project.

If you shy away from asking your audience from contributing, then chances are they won’t. Carefully phrase your ask and be sure to not sound like you’re begging.

To round up, thank your viewer for their time. Be polite and who knows, it might even earn you some extra investors.

To give you more clarity on developing a video for your crowdfunding campaign, let’s look at 5 videos that stood out the most to us.

 

1.     Exploding Kittens

 

Exploding Kittens is a quirky card game that set up shop in 2015. With a Russian roulette twist to a traditional card game, Exploding Kittens involves goats, magical enchiladas, and weaponized back-hair. Each player runs the risk of drawing an exploding kitten card which eliminates them from the game.

The game is super intense and thrilling, and the name itself draws a lot of attention.

So, what makes their video a success?

For starters, the video campaign uses animation as a way to show the audience what the product would look like when it’s finished, which is a great way to engage viewers’ imagination.

Secondly, the video gets wrapped up within the advised time of 3 minutes. The creator Mathew Inman introduces himself before moving to the rules of the game and makes the “ask” after establishing some credibility.

Moreover, Inman further lures his prospects into backing his project by offering them a reward.

How did it do?

Exploding Kittens was able to raise a staggering $8,782,571 which is 87,825 percent of the project’s goal.

2.     Coolest Cooler

 

The Coolest Cooler is an upgrade for your ordinary cooler, with a built-in blender and speaker. The creator of the Coolest Cooler, Ryan Grepper wanted a “well-built” cooler that has “so much fun built into it, that I was looking for an excuse to get out and enjoy”.

And sure enough, the project seemed promising around those perimeters.

It is important to mention here that Coolest found itself in hot waters with its backers over multiple missed product delivery deadlines. However, we still believe the video of their campaign remains relevant even today.

So, what makes their video a success?

Firstly, one of the biggest strengths of this video is how well it addresses the potential questions of prospects regarding the allocation of funds. “I create products for a living, so I lined up top manufacturers to help me through every step of the process .. This will make sure you not only get your coolest on time, but that its high quality…

To move to the next stage requires expensive parts and the capital to buy our materials at a volume discount… If you were to go out today and buy all the gear we’ve packed into our cooler, it would cost over $500. By backing this campaign for $180, you’re getting a great deal!” Those are some solid points that leave no or very little room for rebuttal.

The narrator then goes on to explain the benefits and functionality of the cooler and from its ample storage to durability, he covers it all under 3 minutes.

How did it do?

This video made $13,285,226 which is 26,570 percent of the total project’s goal.

3.     BioLite BaseCamp Stove

 

With its mission to make clean energy accessible worldwide, BioLite in the past has introduced plenty of products. The BaseCamp Stove happens to be one of their most successful crowdfunding campaigns.

Camping is made easy with BioLite’s BaseCamp. The appliance creates electricity by using heat which facilitates cooking and charging of electronics.

So, what makes their video a success?

The narrator starts off the video by introducing the team behind BioLite and its mission before moving on to the product, which happens to be a well-thought-out strategy.

Then, as you get on with the video, you hear the narrator position BaseCamp as a “crowd demanding” commodity. This ‘social proof’ move is paramount to mitigating the pressure that comes with proving your product to potential backers.

Furthermore, with the “Most importantly – supporting us now helps us take new risks on products in the future” line, they make an excellent attempt at enticing the viewer to invest in the campaign.

How did it do?

The Biolite BaseCamp stove was able to raise $1,032,443 with 3,783 funders.

4.      Pebble

 

Launched in 2015, Pebble is a customizable smartwatch that is compatible with both; Android and iOS. Pebble, even though now has been acquired by FitBit, nevertheless, their groundbreaking campaign launched in 2015 still remains pertinent when it comes to kickass crowdfunding videos.

So, what makes their video a success?

Two of the biggest strengths of Pebble’s campaign video are a clear-cut brand vision and product demand in abundance.

The video is not out-of-the-box or very high quality; however, it does a great job at explaining the features of the watch – something prospects are most interested in, and providing enough ‘social proof’ – something done by BioLite as well.

How did it do?

Pebble initially struggled to acquire funds through traditional means, however later on Kickstarter, they not only hit home but surpassed their target amount. Pebble made $20,338,986 on Kickstarter, while their goal was a mere $100,000.

5.     PonoMusic

 

Developed by Neil Young, PonoMusic was an MP3 player for high-resolution audio. It was discontinued in April 2017; however, we believe Pono’s crowdfunding campaign video is still worth a glance.

So, what makes their video a success?

Pono, unlike the rest of the videos enlisted in this article, broke all the rules – the campaign video exceeded the 3 – 5-minute time limit reaching an astonishing 11-minute mark, the product didn’t receive enough runtime and the video was shot almost poorly.

So, what made Pono’s campaign video a success? One word: endorsements. And not just any endorsements, but celebrity endorsements.  From Elton John to Jack Johnson, Neil got experts from the music industry to review his product, which worked like magic.

How did it do?

PonoMusic raised $6,225,354 which makes up for 778 percent of the product’s target.

 

The Bottom Line

While there is no exact formula that we can offer you to create amazing crowdfunding videos, the tips in this article are definitely going to help you in stacking up the odds in your favor.

 

 

 

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