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Let’s say you’re a filmmaker with a dream. You’ve got your script. You’ve got your budget. But when you reach into your wallet, there’s nothing there but dust. Without the backing of a big studio, film crowdfunding might be the only way to raise the money to put your vision on screen.
Before you start sharing that donation link on your socials, it’s important to understand that crowdfunding film projects is not a guaranteed path to success. Pounding the digital payment takes as much work as searching for financing IRL.
Luckily, Wrapbook is here to help you get a battle plan in place. We’ll take a look at what you need to do to prepare for film crowdfunding, how to plan for the assets you’ll need to launch a successful campaign, and what it takes to keep campaigning until you reach the finish line.
As we’ll get into, crowdfunding for your project can necessitate a considerable amount of your time, attention, and energy. To keep the process as streamlined as possible, download our crowdfunding checklist.
With our checklist, you can quickly and easily track what you need to do, what you can cross off your list, and what you might need to revisit in the future. Now, let’s get back to whether crowdfunding is right for you and how to make it a success if so!
The first step of your film crowdfunding odyssey should happen long before you hit “publish” or even dream up any rewards.
The first step is to have a clear understanding of your budgetary needs and crowdfunding goals.
Are you aiming to fund your entire film project through crowdfunding, or are you exclusively targeting specific aspects such as post-production, marketing, or the festival circuit?
Once you know what you’re fundraising for, it will help you determine how much you need to raise. For instance, if you’re looking to fund the entire production of a feature film script, you’ll probably need to raise more than if you’re just looking to fund the last few weeks of post-production.
No matter what what your needs are, it’s important to put together a detailed budget to make sure you aren’t asking for too much or too little. (Especially since some crowdfunding platforms require you to hit your fundraising goal to receive any of the money–looking at you, Kickstarter!)
In addition, if your campaign features rewards for backers, it’s essential to do your research and be aware of how much your rewards will cost. That money will come out of however much you raise!
In other words, if you are trying to raise $20,000 to make a short film but you’ll be on the hook for $5,000 in rewards, you want to know that going in. You’ll then want to adjust what you’re trying to raise to account for these additional costs.
Some costs may fluctuate based on how many rewards you ultimately send out (eg. T-shirts, stickers, pins), and you might want to think about baking the cost of the item into the pledge.
For instance, if it will cost you $2 to order and ship a pin to a backer, don’t offer pins at the $2 pledge level. The cost of the reward will cancel out the pledge! And be aware if you offer pins at the $10 level that you’ll really only be receiving $8 per pledge.
Crowdfunding film projects also offers filmmakers a unique opportunity to raise awareness at the same time that they’re raising money. By leveraging social media and other platforms, you can build a community of supporters who are invested in your film’s success.
Even if people can’t afford to donate to the cause, ask them to post the link to your project on social media. This engagement can generate buzz and create a built-in audience for when your film is ready for release. It might also attract the attention and financial support of their online networks!
Choosing the right crowdfunding platform is essential to your campaign’s success.
Each comes with their own pros and cons. Study up and choose which one is right for your project! Let’s take a look at three of the most popular: Kickstarter, Indiegogo, and Seed&Spark.
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Of course, these aren’t the only crowdfunding platforms out there. For instance, SXSW hit My Dead Friend Zoe used WeFunder, a platform where people can invest for equity in a project.
Do your research! By weighing the pros and cons of each platform, you can make an educated decision that maximizes your chances of crowdfunding success.
Crowdfunding film projects isn’t just about building out a detailed budget and choosing the right platform. To run a successful film crowdfunding campaign, you’ll need a variety of assets that engage and persuade potential backers.
One place to start is with high quality visual assets. Think of it as branding your project! These assets can include things such as a title treatment/logo, a digital poster, and an eye catching suite of graphics that make this project yours.
You’ll also want to produce a compelling crowdfunding film pitch video to feature on your platform’s page.
While you shouldn’t break the bank producing this video, make sure you’re putting your best foot forward. You’ll want to create a professional first impression–especially if you’re angling to direct your crowdfunded film project!
In addition to this visual content, you’ll need to generate exciting, compelling copy to use on your fundraising page.
This text should include an overview of the film, information about the cast and crew, a breakdown of how funds will be used, and what backers will receive in return. An exceptional campaign will go the extra mile to spice this copy up and make it as attention-grabbing as possible.
This doesn’t mean you have to write a novel, but think about the tone and style of your project and how you can reflect that in your copy. If you’re crowdfunding a comedy, lace your copy with jokes. If you’re crowdfunding an action film, keep your text punchy and powerful.
Above all, make sure your copy is clear and transparent. It’s of the utmost importance that your backers know exactly what they’re giving and what they’re getting in return.
Finally, consider your physical assets. These are the rewards you’ll be offering to backers. These could range from merchandise like T-shirts and posters to unique experiences such as set visits or premiere tickets.
These assets likely won’t be free, so don’t forget to put together that physical rewards budget! You do not need to share this budget with your backers, but you will need to use it internally to make sure your numbers are adding up.
As anyone who has run a film crowdfunding campaign can attest, managing the campaign is nearly a fulltime job. One way to stay on top of what needs to be done is to break the work down into individual roles that handle specific tasks.
Here are three of the main roles you’ll want to assign your team:
This person is the head honcho; someone who is taking the 30,000 foot view on the film crowdfunding campaign. They are in charge of coordinating communication between positions to ensure everything runs smoothly.
This person is dedicated to managing social media accounts, creating content, and engaging with supporters. If you’re lucky enough to be running a film crowdfunding campaign that takes off, this position alone can become a fulltime job.
A detail-oriented individual or individuals who are tasked with handling the logistics of tracking donations, sending out rewards, and maintaining communication with backers. Even if the film crowdfunding platform of your choice provides tools to help with these tasks, it’s important that addresses and donations are being double checked manually. It’s the only way to catch typos, payment problems, and other human errors.
Whether you choose to handle these rolls yourself or you hire a team of paid workers or volunteers is up to you. In either case, you’ll want to prepare for the duration of the campaign by setting up a schedule and assigning roles to ensure that all tasks are covered.
For instance, if you want to make sure your campaign has consistent social visibility, you might ask your social media coordinator to make two posts a day on at least two different platforms (in addition to responding to supporters!). It’s best to have those responsibilities detailed on paper in advance so everyone knows what’s expected of them.
The last step of a film crowdfunding campaign might be the hardest. After weeks or months of spreading the word, posting on social media, creating buzz, and stoking an engaged audience, you must deliver on what you promised.
And completing the film is only one part of that!
It’s important to be realistic about your production timeline and to keep your backers informed of any changes or delays. Not everyone understands the lengthy, difficult production process a film has to go through, and it can take months (or years!) to deliver a finished product.
You should task your social media manager with sharing behind-the-scenes content, progress reports, and milestones. This will help keep your backers engaged and reassure them that their contributions are making a difference.
And when it comes time to distribute rewards, make sure you have a clear plan for how and when those rewards will be delivered. If there are any unforeseen delays in ordering or shipping rewards, communicate these issues promptly so that your backers don’t feel like they’ve been left high and dry.
By carefully planning and executing a successful crowdfunding campaign–with the help of our checklist–you can not only secure the cash you need to bring your film to life, but also build a passionate and supportive community around your project.
And whether you need film budgeting tools to help create a budget for your film and campaign or want tips on how to prep for your festival run, Wrapbook is here to help!
At Wrapbook, we pride ourselves on providing outstanding free resources to producers and their crews, but this post is for informational purposes only as of the date above. The content on our website is not intended to provide and should not be relied on for legal, accounting, or tax advice. You should consult with your own legal, accounting, or tax advisors to determine how this general information may apply to your specific circumstances.
Chris Cullari is a writer/director based out of Los Angeles. His most recent film, THE AVIARY, is available for streaming on Paramount Plus and Showtime. You can find him tweeting about monsters, pro-wrestling, and horror movies.
