The Quick and Dirty Guide to Crowd-Funding
Running a successful crowd-funding campaign, whether it be on through KickStarter, IndieGogo, ChipIn, or another crowd-sourcing site, is no easy feat. Over the past year we’ve seen some excellent campaigns as well as some not-so-excellent ones, and we took note of what worked, what didn’t work, and what worked for some but might not work for everyone.
Crowd-finding is a lot of work, yo.
When we were ready to try crowd-funding for TILT, we added our own spin in the hopes of doing something new and fun. The following is the ‘Quick and Dirty’ on running a successful crowd-funding campaign. Later this week, I’ll go more into depth on how to engage your audience in a meaningful and productive way.
Quick and Dirty Dos (with implicit don’ts)
- Plan your campaign in advance. Have ideas before you hit the ‘launch’ button, because once your fund raising campaign is in full swing, you’ll be in a whirlwind of promotion and appreciation with very little time to make significant adjustments or changes. You want to gain momentum as you move ahead, not change directions mid-way through.
- Appreciate the people who help you. Thank people. Encourage people to participate in any way they feel comfortable. Remind them (and yourself) that there are many ways to contribute. Spreading the word is just as powerful as contributing money, perhaps more so. Don’t forget that.
- Keep your backers posted. Most crowd-funding sites offer the option to provide updates to backers and, thus, to potential backers. Use this function. Show that you care enough about the people who’ve helped you to keep them in the loop. This not only keeps your backers happy (and more likely to try to get their friends to back you), but it also sends a reassuring message to potential backers.
- Use your campaign to demonstrate that you are talented and should be backed. If you are giving something immediate to your backers for their contribution – a poem or a video or, as in our case, a fake biography – make it a showcase of your talent, your sensibility, your brand. No shoddiness allowed.
- Spread positivity. It’s contagious.
- Build a community around your project. More on this one later this week.
We’ve seen a number of these techniques employed in several campaigns. As far as we’re concerned, you need all of these elements to succeed. We’ve seen some demonstrably talented artists fail because they don’t engage with their audience, just as we’ve seen some incredibly enthusiastic go-getters turn people off of their campaigns through shoddy pre-sale product or a generally negative attitude.
You might have the best movie idea ever thunk up, but if you turn people off with your bad vibe, self-centered focus, or poor communication, you might not make it. At least not on someone else’s dime.
The bottom line is that you are going to have to cast a very wide net to raise funds through crowd-funding. Most people, especially in the current economy, are going to chip in between $25 and $50. If you have a high goal, you’re going to need a lot of people at that level. If you want your net to spread, you’re going to have to count on your initial backers (your family, friends, and people in your immediate social network) to spread the word. In order for them to feel comfortable doing that, you have to give them many positive reasons to. So help them out by making those reasons obvious from the get-go.
My next post will delve into Audience Engagement. Here’s a sneak peek at some of the things we did to engage and spread positive feelings to our backers.
Hug your backers (Julie w/ TILT Backer John Paul Rice)
Pretend to get tattoos for your backers (Julie + TILT Backer Michele Simmons. Sort of )
Play in the hot tub w/ your backers (Jess + TILT Backer Kelly Johnson)
Make funny, schmushy faces w/ your backers (Jess + TILT Backers Steve, Evan & Juliet Sinclair)
Share mustaches w/ your backers (J&J + TILT Backers David Branin and Karen Worden of LA Talk Radio's Film Courage)
As you say, all the elements you mention are needed, but what particularly engaged me was #4, “Use your campaign to demonstrate that you are talented and should be backed.” Your campaign was so creative I can’t imagine the movie as being anything other than incredible. (It will be incredible, right?) Is there any truth to the rumor that all the characters in it wear mustaches?
It will definitely be incredible. Everyday Julie and I ask ourselves if the script is good enough, if there’s anything we can add or take away to make it better. We are definitely doing all we can to ensure that it’s great. Up in Brainerd, Phil is doing the same. And as for the mustache rumor… only the children in TILT have mustaches. It’s a whole new world that we’re creating
Loved this campaign, love the pictures. It truly like you are running for President, kissing babies, hugging supporters. Well, you should hug them! They believe in you so much why wouldn’t you? Can’t wait to see the film.
Psst… Sheri, Julie and I didn’t want people to know that we’re running for president yet. Thank you. We can’t wait to share it. We also can’t wait to meet you in person someday so we can give YOU a big hug.
YOU GO, JULES & JESS! You did a terrific job roping me in, even if I happen to be related to that beautiful, intelligent, witty, and prolifically talented Julie. (Genes, honey – it’s all in the jeans. (Oops! excuse my Freudian misspelling)
Aw, thanks, Aunt Carol! You know I still feel like a little kid bringing my projects to my parents and family members: “Look what I did! Look what I did!” And having the support of our close friends and family members gives Jess and I the confidence to go out into the world, find new friends, and drum up new sources of support. Sandra Bernhard said it best (if not first): “Without you I’m nothing!”
Very good article and campaign – I like your #4 point; y’all definitely demonstrated your ability with the creativity and writing you did for the bios, your talent was easy to see – Considering the writing awesomeness displayed with just short bios – I can not wait to see a full movie! And with #3 – that is very important- letting people see the behind the scenes really hooks people and brings them in and keeps the interest up and current (the Coffee with Phil updates were a great way to do that and gave a daily boost to the campaign – liked those bits a lot as well as everything else) Thanks again for the “preshow” show!!!!
Thanks J. We’ve thoroughly enjoyed providing the pre-show, and can’t wait to get to the show-show. Shooting starts in about one month and we couldn’t be more excited.
Excellent post, Julie and Jess, and congrats once again on such a wonderfully successful crowdfunding campaign for TILT.
And you’re absolutely right: POSITIVITY IS CONTAGIOUS; the more excited you are about a project, the more everyday heroes come to your aid, and even go beyond their own means to show support and get a project on the road to reality.
I’m definitely looking forward to the community building post coming later on!
Thanks, John. You know, we took a lot of cues from your Cerise campaign on the positivity front. Your campaign was celebratory all the way through, which made it fun to watch and be a part of.
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Great tips from people who pulled it off in a stellar fashion. Glad you’re sharing all of this for the benefit of others.
And I hope there’s a hug in NY sometime. =)
Dave
Dave – There will definitely be hugs, plural. For you.
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