How to Make a Crowdfunding Video that Works
After a victory in sports, you often hear the commentators discuss the “Keys to Success.” The topics can range from player preparation to expert coaching to technology or equipment that provided the winning edge. In fact, most coaches and players already know what they need to do before the game even starts – it all comes down to execution. “That’s why you play the game”, they say.
When it comes to crowdfunding, you’re looking at a very similar scenario. You have a game clock (campaign window) that expires and if you don’t reach your funding goal, you lose. You have to develop a game plan (business plan) and if it isn’t perfect for your company, you lose. There are several variables that come into play if you want to “win” an equity crowdfunding campaign, and one of them is essential to victory – an equity crowdfunding video.
The effectiveness of a well-crafted equity crowdfunding video is undeniable. Informative yet persuasive. Catchy yet educational. Appealing yet explanatory. It takes a lot of thought and time to put a masterpiece together but it has been done and you can do it, too. We want all of our future issuers to understand the value of the video and see how essential they can be to reaching your goals.
Take note: the following points are not suggestions – they are instructions.
Please enjoy (and pay attention to) the following 3 tips for a successful equity crowdfunding video:
Sell Your Story – Then Your Product
When prospective crowdfund investors click on your video, they want to know “the real you.” This may sound like a really bad dating cliché, but when it comes to a person pledging hundreds of dollars for equity in your company, they want to know the people behind the product. No matter how awesome a product or idea is, if the people running the show aren’t they right fit for the potential investor, they will walk.
This article clearly dictates how to make a crowdfunding video that sells itself. The author also agrees it is important to sell your story first because people want to connect with you. They don’t want different angle shots of your product, they want the story of the company and the product itself. How did you come up with the idea? When did you make the first prototype? How exactly with this crowdfunding round help its success? Telling your story builds credibility and makes a human connection. Do it and do it well.
Write a Script and Storyboard
To do it and do it well, you can’t just press RECORD and start off your story with, “Uhhhhh.” All major film and television productions have script writers and storyboards for a very good reason. Being able to know what the dialogue is and how the scenes will play out makes filming the video much easier and predictable. Not to say that a little ad-libbing is totally unacceptable, but having a plan will cut down on filming time and ultimately produce a better final product.
For example, try to section out your video three ways. The first section can be your story from concept to creation, the second can be where you are now with the crowdfunding campaign and the third can be your future goals/vision. Try to piece in some pre-recorded scenes of your product during the dialogue and/or write scenes when you will be narrating behind prerecorded material. Most importantly – don’t forget your call-to-action. This is your one chance to be the writer, director and producer of your own equity crowdfunding video. Make sure to set aside a lot of time to plan everything perfectly because if this video bombs at the box office, your dreams go down with it. So make it great!
Keep Your Video Under Three Minutes
Have you ever sat through a three hour movie and thought, “That could’ve been at least 30 minutes shorter.” The same goes for equity crowdfunding videos. An eight minute video that drags on and on and drifts away from its main points will only let the potential investor drift away along with it. If they lose interest in your video, they might lose interest in your product. You don’t want any negative connotations associated with your campaign during the selling process so try and keep your video between 2-3 minutes.
Opinions vary on the proper length of a crowdfunding video, but it really comes down to the content. If you have energetic, engaging content that last seven minutes, show it to a test audience (not a relative or close friend if possible). See what they say, and if there are any dead spots, leave them on the cutting room floor. Unless you have a long, compelling story, you should be able to sell yourself and your product in under three minutes. Society’s attention span is dwindling year after year so a long, drawn out production is not going to work here. Try to make sure every segment ties together and leads toward an enticing call-to-action.
There are dozens of articles regarding tips for a successful equity crowdfunding video, but the three points I mentioned here are universal. Sell your story. Write a script and/or storyboard. Keep the video under three minutes. All three of these qualities have been mentioned in success stories and expert opinions across the internet, and when you really think about them, they all make sense. Follow the path of those who have done it before you and achieved what you are trying to achieve.
Speaking of following a path, and product videos, one of our favorite product videos of all-time belongs to GoPro. GoPro has a unique advantage to selling the product experience in their videos. This particular video features New Zealand bike pro Kelly McGarry backflipping a 72-foot-long canyon gap at Red Bull Rampage 2013. It is something 99.98% of the world would never try, but thanks to the incredibly life-like video of GoPro you can experience it from the comfort of your desk chair and laptop. Amazing.
Thank you for reading and please leave your questions and comments below!