The goal of the FEATURED sections on Home & Projects is to showcase projects embracing DIWO and achieving success. Thus projects are featured based on the following factors:
Quality of its pitch page*
Funding traction
Frequency and quality of updates
Level of DIWO Activity**
*Pitch page: includes both video & text pitch, quality & creativity of perks, specificity and transparency of the funding goal & use of funds. See: Keys to Crowdfunding Success on IndieGoGo.
**DIWO Activity: how active you and your fans are in sharing your project via the share tools
Let us know if you have any questions. If you feel your project matches the criteria above and has been missed, please contact us!
Last week I commented about the benefits of crowdfunding in one of the interesting discussions happening over on Lance Weiler's Filmmaker Summit Forum. The key take-away is that money is just one of the benefits... crowdfunding brings much more.
So if you're wondering if crowdfunding is right for your project, read on, and let me know if you have any questions. If there are other benefits, I'm missing, please share! Always happy to add more.
Benefits of Crowdfunding
1. Money (that's obvious). Enough said.
2. Marketing (In a recent conversation with GoGoSlava,Ted Hopecalled this "the Power of $1") When someone validates your idea by putting money down, they've also just become a fan... and perhaps an evangelizing one too. Thus a great way to market your project is to ask for funds... similar to how asking for favors is a great networking technique. In the world of twitter, facebook, digg, etc. it's now super easy for fans to turn into promoters with the click of a few buttons.
3. Market traction (using data to show you have a audience). We know of filmmakers using IndieGoGo to show other interested parties (e.g. investors and distributors) that they have a growing audience. So crowdfunding a percentage of your project's cost can help attract funds from other more traditional sources looking to minimize risk.
4. Monetization "outside the copyright." By offering perks like personalized or limited experiences and items (e.g. signed copies of your book or film, special access, invites to a party or event, etc.) that can't be offered once the film is complete, crowdfunding enables you to monetize the experiences around the film, and not just the film itself.
5. Mojo (I'm just calling this Mojo because I liked the "M" trend). What I mean by this is that crowdfunding allows anyone to be a patron. Patronage is no longer just for the rich. Kevin Kellynames "Patronage" as one of the 6 Generatives that will help creators make money in an age where anything copyable is free. You can't copy the feeling of knowing your support made something happen. That's special, and at our core people really do like to make a difference when we can. Crowdfunding gives everyone that opportunity.
Whenever I find myself sharing the same tips or ideas with project after project on IndieGoGo, I realize I probably have something worth sharing with everyone! So here's the latest I-probably-should've-posted-this-when-I-first-wrote-it entry :)
* * * * * * *
Keys to crowdfunding success on IndieGoGo include:
1. Great
Pitch Clip:
The difference between interesting ideas and fundable ideas is *The
Pitch.*
People
contribute to people they know, so create pitch clip as your Primary Video to provide
a peek into the who, what, where and why of your project.
Make it
clear why your potential funder will be better when your project comes to life
than if it stays just an idea! Here are
some great examples.
2. Creative
& Unique Perks:
If the result of your project has a tangible product (e.g.
if you're writing a book, making a film, or doing a photo-documentary, designing
a line of crafts), pre-sell copies of the book, DVD, photograph or hand-made
sweater as VIP perks. Give people an
incentive to "pay now versus later" by:
• Offering
a discount (i.e. a financial incentive)
• Adding a personalized touch like signature or personal note inside the product (i.e. emotional incentive)
• Limiting the number available (i.e. scarcity incentive)
Whether your project has a tangible result or not, you can
also offer fans experiences and special access that they couldn't get once the
project is done (e.g. a visit to your studio, funder-only updates or a special
credit on your website).
And don't leave money on the table: offer VIP perks at
different levels ($10, $100 or $1,000) to match your fans' varying levels of
interest and size of pocketbooks! See
Want Ideas for VIP Perks?
3. A
Specific & Transparent Use of Funds:
Funding campaigns for projects with a specific result or
end-product work. Funding campaigns for
a general purpose don’t. Have a specific
use of funds, and show people exactly where their money is going. If you have a large goal? Break it down into mini-goals and attack one
at a time, making sure each mini-goal has its own tangible result. For example,
if your project is to publish a compilation CD, raise money first to secure the
rights from the artists, then to pay for studio time rental, and finally
manufacturing costs.
Projects who are eager
to share pictures, videos, and progress updates with their fans and who are
industrious in using tools like twitter and facebook do the best job of:
• Finding
fans
• Drawing
them to their pitch page on IndieGoGo, and
...like bloggers, admins of linkedin/facebook groups, directors of
organizations or forum discussion leaders. Identify where your potential fans
and future funders are online. Reach out
to the people who influence your future base and share your project with them.
If they like what they see, ask them to share it with their followers via
blogs, e-blasts, or discussion topics.
We've given you the widgets and other share tools to make that easy! Also see How to Market to Bloggers.
I recently tweeted about public speaker Scott Berkun and his piece on How to pitch an idea. The twittersphere response was suprisingly positive. So I wanted to make sure all our IndieGoGo projects didn't miss out!
Whether your project is a film, book, music, piece of art, venture, community effort, technology product, invention or political campaign, all projects are ideas.
And the difference between interesting ideas and good ideas is THE PITCH.
Successful projects on IndieGoGo tend to go the extra mile to pitch their project, not just show it. By now you probably know how important a pitch clip is. So I recommend you take a few minutes to read what Berkun has to say and amp up your pitch page on IndieGoGo. Make sure your IndieGoGo project screams GREAT IDEA, not just interesting one.
Coming up with good ideas is hard enough, but convincing others to do something with them is even harder. In many fields the task of bringing an idea to someone with the power to do something with it is called a pitch: software feature ideas, implementation strategies, movie screenplays, organizational changes, and business plans, are all pitched from one person to another. And although the fields or industries may differ, the basic skill of pitching ideas is largely the same. This essay provides a primer on idea pitches, and although most of my experience is in the tech-sector, I pitch to you that the advice here will be relevant to pitching business plans, yourself (e.g. job interviews), screenplays, or anything else.
The nature of ideas
Ideas demand change. By definition, the application of an idea means that something different will take place in the universe. Even if your idea is undeniably and wonderfully brilliant, it will force someone, somewhere to change how they do something. And since many people do not like change, and fear change, the qualities of your idea that you find so appealing may be precisely what make your idea so difficult for people to accept. Some individuals fear change so much that they structure their lives around avoiding it. (Know anyone exhibiting the curious behavior of being obviously miserable in their job, their city, their relationship, but still refusing to make changes?). So when your great idea comes into contact with a person who does not want change, you and your idea are at a disadvantage. Before you can begin the pitch, you have to make sure you’re talking to someone that’s interested in change, or has a clear need that your idea can satisfy.
See the entire article here on Scott Berkun's site. He walks through the 8 Steps on How To Pitch.
Statistic: Zappos Sells 6-30% More Merchandise When Accompanied by Video Demos.
As someone who "likes numbers but loves film," I decided to geek out a little and look at IndieGoGo's data. Here's what I found:
IndieGoGo Statistic: Projects that have a video or pitch clip on average raise 122% more money than projects that have no video or pitch clip.
Take-Away? Make video a part of your pitch. Pitch clips are especially important as they provide a peek into who's behind the production, why they're making it and what it's goal is. People contribute to people they know... so introduce yourself!
Check out the November Newsletter for four creative approaches to the pitch clip. Good luck!
On October 21, IndieGoGo presented a workshop on film funding and audience-building at Digital Hollywood. I've included the Audience is King
presentation below. Take a look and let us know if you any questions. Audience is King_IndieGoGo Workshop_Digital Hollywood_Oct 2009
Elisabeth Bartlett did a great write-up on the MVFF panel: ACTIVE CINEMA: STRATEGIES FOR CHANGEthat brought together the amazing panelists below to discuss how film could be used for social change. Thanks, Elisabeth!
Check out Elisabeth's "Advice for Activist Filmmakers" write-up and festival pics below.
Panelists (in order of first picture):
Emmanuel Vaughan-Lee, filmmaker, A Thousand Suns, executive director, Global Oneness Project.
John Morrison, director of CFI Education, film programmer.
Advice for Activist Filmmakers (By Elisabeth Bartlett)
[Excerpt follows. Read full article on Fest21.com]
"Many documentaries today address activist issues. Often after
seeing such movies, audiences will ask, 'What can we do?' Sunday
October 18, closing day of the Mill Valley Film Festival, a panel
called: Active Cinema: Strategies for Change addressed how to
best inspire audiences to action. How do we help audiences connect the
dots between the experience of watching the film and doing something? How can we inspire activism? The panelists discussed.
'You can't just show them the film and leave,' suggested Michael
Lumpkin (Executive Director of the International Documentary
Association). 'You have to give them info, a website, etc.' The
audience needs something on which to grasp.
Jennifer Siebel Newsom, First Lady of San Francisco andwriter/director/producer of the upcoming documentary Miss Representation, spoke
up about the elements of her film that make up what she hopes will be a
film that inspires change and action. 'In our case we have tons of facts. Then you have to have tons of emotion
that people can relate to. Then you have to take the audience on a
journey. And the last thing you have to do isinspire and empower them
so that they see that they can affect change and that it's not all doom and gloom.'"
On Oct 21, a panel of industry veterans from MTV, Lionsgate, KCET, Break.com, Omelet & Aniboom descended upon Digital Hollywood for IndieGoGo's Pitch Camp.
2 hours and 9 pitches later the event wrapped with happy judges (impressed with the quality of talent pitching) and happy filmmakers (equipped with invaluable feedback and the tools to take their projects to the next level).
Catch the highlights below!
Alex Barkaloff (Exec. Producer of Lionsgate Digital) comments on Pitch Camp and the future of the Internet as an incubation platform.
'
Uri Shanar (CEO of Aniboom) predicts the future of the internet rests in "Creator-Generated Content"
"Getting the chance to be in front of industry professionals to
pitch a project is something most people only dream about, indiegogo
made it happen!"
"Pitch Camp was invaluable for me - not only the experience of talking about my films in front of a high-powered panel, but also having a packed audience of smart people - I could tell from their reactions what worked, and what didn't about my pitch, about my films and about my presentation."
- Sarah Lefton, Executive Director / Producer of G-dcast
Here's a few samples of pitches. Big takeaway: Always be ready. Always.
Thanks again to all the judges for spending the afternoon with IndieGoGo's filmmakers:
Alex Barkaloff, Exec Producer, Lionsgate Digital
Juan Devis, Director of Production KCET New Media
David Gale, Exec VP of New Media, MTV Films & MTV Interactive
Danila Koverman, Director of Development, Break.com
Uri Skanar, CEO, Aniboom
Mark Vega of Counsel, Luce Forward & Co-founder Omelet
