Celebrating 17 Years of Film.Biz.Fans.
by Bryce J. Renninger
April 30, 2012 1:03 PM
11 Comments
  • |

Are You Really Ready to Crowdfund? Here Are 8 Tips from Filmmakers Who've Been There

And, often, most of your friends and family have never heard of crowdfunding.

A crowdfunding consultant for a film told us, "There's a whole world of people out there who have never even heard the word 'crowdfunding.' For our project, many of our contributors set up profiles in order to donate, and only contributed to our project. If you find a way to reach the broader community, outside of filmmakers, you will not only raise more money, you'll also find and connect with your audience well in advance of your release."

Have a few project updates (videos and letters) ready before you launch your campaign.

The consultant explained to us, "I wish someone had told me more about 'update' strategy. It's hard to decide if you should plan updates in advance or think of them on the fly. It can be a lot of work to produce a short video overnight, and by the time it's done, it might not even be relevant anymore. Timing is tricky, so it's good to think about the types of updates you want to have ahead of time and to think about if rewards should be paired with them and/or if videos are necessary or even add anything to the update."

"I didn't realize how long it really takes to send a separate email to everyone I know."
The doc director added, "Have emails ready to send out on the first two days. It took me a really long time to send out the first emails. I didn't realize how long it really takes to send a separate email to everyone I know."

Sure, it's as much work as a job, but so is raising money for a film any way you slice it.

"I thought of it like this: there are so many grants I've applied to," the doc director told Indiewire.  "It's a lot of work to apply for a grant, and you send out the applications, and a few months later you (mostly) get a rejection letter. This was like a grant -- actually my campaign raised slightly more than, say, the Sundance grant gives (or so I've read!) -- but I got to make it happen by engaging in an active process as opposed to the passivity of waiting for a granting organization to reject your film (or once in a great, great while, support it.)"

You have to do something to justify people supporting your project over others!

A documentary producer told us, "You have to be very aggressive about getting the word out about the campaign day after day. You need great incentives and fresh reasons why people should give you their 10, 25, 50 dollars instead of someone else. Otherwise you'll get lost in the shuffle.

"I think crowdfunding is still a viable model for some projects that already have a strong, built-in fan-base, or campaigns that create a really strong incentive or angle for giving. But in general, yes -- I do think there's crowdfunding fatigue, especially in this economy. I see a lot of projects out there really struggling to meet their goals."

You might also like:

11 Comments

  • Tiaraonmaus | February 22, 2014 8:34 AMReply

    There is nothing sleazy about asking people to become part of your artistic vision. Those idiots who think this way are below artists and just don't get it (keep it copacetic). The big studios have a bead on the money, little people who are trying to create and are starting out are left in the lurch and marginalized, especially with this type of ignorant attitude. See how far you get starting a company yourself without asking people for money.

  • Crowd Energy | December 31, 2013 3:24 PMReply

    It seems Kickstarter has built in traffic. I wonder what the odds are of success if you dont pre build a following before launching.

  • Stew | August 19, 2013 7:13 PMReply

    could someone screen these comments for desperadoes plugging their kickstarters?

    seriously everywhere I look on the internet these days, someone is asking me for money for their film it is getting really tiresome. There is something very sleazy and undignified about most of these.

  • Bob Thompson | August 19, 2013 5:00 PMReply

    How many people have a hard time getting their Facebook friends to Like their Facebook page? How many Likes do you have? 70? 100? Seriously, I can't even get my immediate family members to Share a Facebook page, so what's it like when I ask my family and "virtual friends" to GIVE ME MONEY??? It's a joke, is what it is.

    Crowd funding works for people who already are famous or have a certain level of notoriety. That's just the way it is. You are wasting your time with crowd funding. And, quite honestly, it's kind of sleazy to ask your friends to give you money for your own personal project.

    In my opinion, you'd be much better off spending those countless hours pitching to producers who invest in indie films in your metropolitan area. Or better yet, and this is a controversial statement, I think if you just worked for a minimal paying job all the hours you'd spend on a crowd funding project, you'd achieve your funding goal. Think about it.

  • Debi Mack | March 10, 2013 9:02 PMReply

    For anyone, particularly filmmakers, who are considering crowdfunding, I am sending out a warning to stay away from Indiegogo crowdfunding site. I am a filmmaker, and was raising a portion of our film budget for our project, Skookum, on the Indiegogo website. We were nearing the end of our campaign, successfully reached and exceeded our funding goal, were #1 campaign on Indiegogo for awhile, on their Sundance Film Festival poster, and had happy donors, receiving no complaints during the course of the campaign. Suddenly and without warning, they froze our campaign, refusing to give us a reason, and asking for personal identification such as passport or drivers license sent via unsecured email attachment, which is illegal and dangerous. Raising enormous red flags, we demanded that they refund our donors and dissassociated our campaign from Indiegogo. All of our donors have still not received a refund. BEWARE of Indiegogo--this company is a scam! I have reported them to the Better Business Bureau, the Department of Homeland Security (SAR), and FBI, for requesting personal and confidential identification. I happen to know of five other campaigns they did this to on the SAME DATE--also asking for personal identification via unsecured email attachment. What are they doing--selling personal identification to who knows where or who? If our experience and getting the word out there helps just one person avoid being scammed by these con-artists at Indiegogo, then it's all worth it.

  • Ayudos.com | February 8, 2013 2:38 PMReply

    Great article. thanks for the info. It's important for people starting campaigns to understand the difference between these to crowdfunding giants.

    http://ayudos.com/crowdfund/kickstarter-vs-indiegogo/

  • Crowdfund Good | February 8, 2013 2:40 PM

    Great article. thanks for the info. It's important for people starting campaigns to understand the difference between these to crowdfunding giants.
    kickstarter vs indiegogo

  • PaymentSpree | January 28, 2013 9:52 AMReply

    PaymentSpree just launched a campaign on indiegogo: twitter.com/paymentspree

    PaymentSpree is a new mobile payment app that is turning the mobile payment world upside down. It's the next big thing when it comes to mobile transactions. PaymentSpree can have a tremendous impact on indie film makers, producers and distributors especially. If the indie film industry puts their support behind this new tech, it could help broaden the reach of indie film viewership and support.

    Check out the PaymentSpree campaign on indiegogo and lend your support. One hand washes the other. Picture that!

  • Michael Clark | April 30, 2012 5:49 PMReply

    The recent success of Double Fine games that raised over 3 million for a project seemed to have re kick started Kickstarter in popularity. We have a new project that we thought would fit this new trend perfectly, a choose your adventure movie playable on the iPhone. We studied for months about the best way to make Kickstarter work. Made some really nice videos and launched our campaign.... It is going fair but only because we are relentless in plugging it everywhere we go. This not a golden ticket and you best be ready for a month long battle to get the word out. I had visions of people flocking to our project LUMBERJACKED because it was such a fresh new approach but... It hasn't been easy so far.

  • Mark Stolaroff | April 30, 2012 4:41 PMReply

    With regard to the final paragraph of this story, where the doc producer suggests that crowdfunding is only appropriate for "some projects that already have a strong, built-in fan-base," I can only say, if you can't come up with compelling reasons for someone to support your film, maybe you shouldn't be going to all the trouble to make that film, which will likely take years of your life. Kickstarter is forcing you to get honest about your project--who would want to see it and why. You should have answers to these questions now, before you set out to make the film, not after all the toil. The beauty of Kickstarter is people are paying you to market to them. This is work that you are going to be doing at some point on your film. If you think that someone else or some company is going to do that work for you, you are sadly mistaken, (and probably haven't been reading IndieWire very much).

  • Nick Fitzhugh | April 30, 2012 1:17 PMReply

    I know exactly what these producers/filmmakers are talking about. I'm in the last 4 days of a $50,000 campaign and have $20,000 to go!!

    I would love IndieWire's help sharing news of the campaign and would be happy to talk about it afterwards if you like. Here's the link: http://kck.st/Hc19La