Crowdfunding continues to grow as a lucrative mechanism for startups and entrepreneurs to generate the capital and validation necessary for bringing their offerings to market. With crowdsourcing projected to surpass the annual investiture of venture capital in the immediate future, more and more business are turning towards the model for financing their prospective enterprises.
This expansion has given rise to prominence of campaign videos. These short pieces distinguish themselves from the average marketing video by taking the pitch session out of the boardroom and into the mart of public opinion. They’re not just selling the service or product, but also their history, ambitions, ethos, and in the case of equity-based crowdfunding, their business model.
Over at Videopixie, Thomas Escourrou has put together an in-depth study of how the production values of campaign videos corresponded to the capital generated by one hundred crowdfunding endeavors. According to their analytics, there appears to be a distinct correlation between budgetary, stylistic, and pre-production choices and fundraising success.
History has shown that, generally speaking, most videos with a relatively high budget resulted in meeting or exceeding high fundraising goals, with the sweet spot hovering around a $20,000 budget for a $1,000,000 target. Likewise, videos that are contracted out to professional production teams with high-end equipment tend to perform better than those that are produced in-house.
If you’ve been thinking about commissioning or producing a campaign video, your budget is one of the few things that you may not have control over. After all, we’re talking about a forum that exists to address a lack of initial capital – $100,000 videos are simply not realistic for the average startup effort.
Luckily, money isn’t necessarily the most important thing. The style and structure of your video can be just as influential in capturing your potential investor’s imagination. Beyond the production budget, Thomas’ research identifies nine additional factors that drive success:
In short, most successful campaign videos are short, direct, light in tone, and shot in stimulating locations. Most crucially, they are planned well in advance.
70% of successful campaigns worked on their video for at least a month, some 3-4 months. Campaigns that made their video in less than a week were 25% less likely to succeed, and raised much smaller amounts overall.
Heading into any kind of video production without thorough planning is almost always a recipe for trouble. Consistency of vision, intricate development of a shooting strategy, and logistical legwork are guaranteed to make the process of creating a video easier. Quality begins with pre-production.
Celtx is designed around the principle of maximizing pre-production efficiency. By bringing your team into a Celtx Studio, you provide them with a collaborative toolset that will allow them to conceptualize, write, and plan videos together. Centralized information, easy communication, and instant distribution takes the lag-time out of the development process.
Time is money. If you’re planning to make a campaign video in-house with a limited budget and production window, Celtx will not only make the process faster – it will make sure that nothing gets missed. The extensive suite of pre-production tools that come with a Celtx Studio cover everything from the broad strokes to the minute details.
Likewise, if you’re planning to outsource your production to the pros (or are the pros yourselves), Celtx enables both client and contractor to communicate and collaborate instantly, ensuring that all parties stay informed and on target as they prepare to go to camera.
Our production plans provide you with everything you need to make sure your content has a solid foundation. If a campaign video is in your organization’s future, Celtx will help you take the first steps with confidence.