Independent filmmaking can be an expensive hobby. The idea is to get investors involved with your project, so you are not spending your own cash.That is a difficult task for an independent artist. Since 2003 Crowd Funding has been a good method of raising funds for your independent film.
What is crowd funding? It’s a Internet based method for independent artists, including filmmakers, to connect with people who are passionate about their project and are willing to donate money to help development process. Crowd funding started with a company called ArtistShare in 2003. By 2013, crowd funding grew into a $ 5.1 billion industry with companies including KickStarter, IndieGogo and GoFundMe.
As an independent artist you’re probably thinking — how can I get involved in this? It’s simple because starting a crowdfunding campaign is just as easy as starting a social media page. It’s strategic because like anything, it requires a plan and marketing strategy.
After picking the best platform for your project, here are a few campaign building tips sourced from Chance Barnett of Forbes Magazine, to help you get started.
Entertain your potential funders with a great pitch. You are passionate about your project. Transfer that passion to others with an exciting pitch video. Include what the project is, what’s so great about it, and most importantly, the call to action. The call to action asks for the money and tells them the benefits.
The beauty of crowd funding is: unlike traditional investing where the investors receive a piece of the profits, crowd funding investors receive perks/gifts for their donation. For example: you might send them a copy of the DVD or T-Shirt. It’s very important to include the amount needed for perks and the platform percentage in the funding goal total. For example: your production budget is $10K and your perks will cost you $2K, the platform is going to deduct 5% — your total funding goal should be $12,600.
Engage, Engage, Engage! It’s very important not to make the funding campaign and just let it sit. You have to actually campaign. Best practices include building a social media platform, website, emails, and flyers with a QR code linked to the campaign. Successful campaigns have actually hosted events promoting the project while engaging donors.