Over the last month we created videos for two Crowdfunding Campaigns that so far raised 1,000,000 between them. It was a great process and we learned a lot about how to use video efficiently to drive the fundraising. Here is a quick breakdown of how we did it with MBJ (Raised £709,000):
A few months ago Julian and Toni from MBJ gave us a call about their new service WaaS, and how they had signed up 50 clients (most on a 2 year contract) in the first 3 months since launching.
We met up and they told us about the vision for the company, which was pretty exciting (SPOILER ALERT… watch… the video)
They were planning a Crowdcube campaign to take the concept to the next level and wanted to make the video with it.
As we started working what we quickly realized was that the challenge was to strike the right balance between entertainment and facts. You want the video to be interesting to watch while still conveying the facts behind the story, and not being so silly/goofy that you might alienate some investors!
A crowdfunding video production for investors is a very different audience than a Kickstarter video or a normal Company Video aimed at your customers. On Kickstarter you’re essentially creating a commercial about your product, playing on your personal story and ultimately getting your customers to believe in it and pay you before you make it, effectively pre-selling your product. Your customers aren’t necessarily so interested in your exit strategy and business model. They want a cool product and story to get behind – you’re selling a product.
A Crowdfunding video production for investors is a whole different ball game. You need to look at it more like a pitch, with facts and numbers as well as your story. You want to quickly catch their attention as you would in a normal video, but then get more specific and take your time to actually go through your vision of the company.
Kickstarter is more B2C while Crowdcube is more B2B.
So we decided to go with an investor focused approach making sure we covered the key aspects of a pitch using video to make it come alive.
1: What’s the problem?
We start off by introducing the founders, concept and how they discovered the problem. An important aspect here is that we focus it around their experience establishing their credibility in the field, while starting to connect by creating a personal narrative (e.g. showing footage of previous events, what the team has done and where they are coming from).
2: How to fix it?
Once the problem is established we quickly introduce the solution, backed up with current customers talking about how it helped them (further establishing that the service ACTUALLY works). Think about this as a short elevator pitch followed by a confirmation from outside sources.
3: How does it work?
Next we continue the story by showing where the company currently is at, the early success they have received and briefly introducing where they are going. We follow each statement with facts and people explaining in detail how this will be achieved. Target customers -> presenting the market size and potential for future growth. The business model and need in the market -> confirmed by experts in the different fields. The team -> having people from the team talk about how they work and having current investors back up the quality of the team.
4: What’s next?
Now we go into some high level plans on where you will invest the money. We don’t give away too many specific details but focus more on high level concepts to convey the vision without being weighed down with to many details and numbers (important to have some numbers here… just not a whole spreadsheet). And then in the end we play up the emotional part, that you will be part of a team – not just an investor.
The video worked very well, quickly explaining what WaaS is all about and why the MBJ team are the right people to execute this business.
The campaign was a great success and resulted in £709,000 in funding crushing the initial £350,000 target.
If you are looking to make a Crowdfunding Video, think of it in terms of a pitch deck, separate it into different parts and get as much outside confirmation as possible. It is always more powerful if someone other than you explain how great your idea is.
This video is all about making YOU connect emotionally with the investor, so that when they read your pitch – it’s not just another document. Your video is your opportunity to speak straight to 1000’s of investors having their full attention and convincing them of your story.
Shameless plug: Luckily at Speeding Films this is what we do best. We’ll help you write your story, coach you to perform at your best and film it all to the highest possible standard, giving you a neat and professional video to pitch your business.