Whether you are a business owner, a tech startup or someone with a project idea, at some stage of your journey you may need to raise or consider funding through crowdfunding. By now you may already know that having a video and running a campaign is a vital piece of the puzzle to harness the […]
Whether you are a business owner, a tech startup or someone with a project idea, at some stage of your journey you may need to raise or consider funding through crowdfunding. By now you may already know that having a video and running a campaign is a vital piece of the puzzle to harness the success of a crowdfunding campaign. But before you think about getting yourself into video production it might be worth considering to know if you are ready for this path.
Here are some things to check that could help you decide whether you ready to take action for producing your crowdfunding video.
Clarity of the Concept
This means the actual concept of your business, idea or the product that needs
backing. Is your business or idea well defined? Is it clear to you where do you plan to use this investment and where do you want to go after raising the investment. As a business owner, all this may sound obvious but all this reflects the tone, style and vision of the video and if you are clear about this then it’s one of the signs you are getting ready.
Do know your target customer, donors and investors? Before you can consider getting into video production and plan your campaign it’s important to know who your video campaign will speak to. It’s important to have a persona of those investors and donors in mind.
Determine the Crowdfunding Platform
Do your homework. It’s important you have a clarity on the platform you see your project being the best fit in. Platforms such as crowdcube, seedrs, kickstarter and Indiegogo all have different business models and attract the different type of funders.
Some platforms such as Crowdcube and Seedrs are investment based and if investors are interested they may want to request to see your business and financial plan to understand your market position and business model further. Use this guideline by crowdcube on how to create your business plan.
A Campaign Strategy Plan
There is a common misconception that having a great crowdfunding video will do the trick for raising the funds. Although video does play huge role in bringing the success but a campaign strategy will help you build awareness and just relying on the crowdfunding platform members is not enough to reach your goal, you need to warm up your own network, host and hold event in your industry and produce and share relevant content to the right network about your campaign.
We hope this helped you to determine whether you are ready or not for your next step in video production.
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