Something we always recommend to startups looking to raise money on our platform is to create a campaign video for their raise. While it’s not strictly necessary, according to a recent Forbes article, Indiegogo has found that campaigns with pitch videos raise more than twice the funds of campaigns without videos. So, while it is an additional cost up front, it’s an added touch that can pay off big time in the long run.
What Makes a Good Campaign Video
Think of your campaign video as your pitch to potential investors – who you are, what you have to offer, and why they should care about it. After watching it, potential investors should know:
- What your product or service is
- Who your target customer is
- How your product or service meets the need of the target customer
- Your unique selling proposition
- Why your company worth investing in
- How the funds will be used
The best campaign videos hit all these points in a way that is concise, easy to understand, and attention-grabbing. That may seem like a tall order to fill, but with the right planning, it’s easily manageable.
Short and to the Point
The most effective campaign videos are short and to the point – right around two and a half minutes long. People have notoriously short (and shrinking) attention spans, so you’ve got to hook the viewer quickly, ideally within the first 30 seconds.
Keep it Interesting
The last thing you want is to bore your audience. The best way to avoid this is to keep the focus on the benefits of your product or service for the end user. If you spend too much time on the technical features, you may overwhelm your audience with too much jargon, causing them to check out.
Show your personality. A potential investor is more likely to trust and want to invest in you if they feel like they can connect with you and your motivation for bringing this thing into existence. As much as investors are investing in your idea or product, they’re also investing in you and your team.
Planning Your Video Content
When you first start planning your video, it may be helpful to sit down and outline the major points you want to cover:
- What your product is
- Who it’s for
- It’s most important benefit
- How it’s different from the competition
Once you have this framework constructed, you can begin filling in the rest.
Telling Your Story
People love stories, which is why weaving a compelling story is a great way to grab a potential investor’s attention. This could be the story of how your company came to be, a case study of your product in action, or a combination of both. Here’s an example of a simple formula many crowdfunding campaign videos follow:
- Introduction of the product/service
- Introduction of the team
- Description of the benefits of the product/service and its features
- The product/service in action
- Discussion of your progress so far
- Closing call to invest
You don’t necessarily have to outsource your video if you 1) have the time to devote to it, and 2) you have the skills and equipment to film and edit it. As most entrepreneurs are strapped for time, however, it may be a more efficient use of time to hire a videographer. Budget-wise, you’re looking at about $2,000 to start, but in return, you’ll receive a finished product that is clean and professional, with footage you can continue to use in the years to come.
Things to Remember
To be effective, your campaign video doesn’t need to be an elaborate production. it just needs to deliver your core message in an effective way. To boil it down:
- Keep it short and sweet
- Make it interesting
- Be authentic
And if you’re not sure where to begin, remember that you don’t need to reinvent the wheel to create something effective. Check out some of our current equity crowdfunding raises and their campaign videos to get your creative juices flowing.