> My Crowdfunding Experience

rayw · Apr 26, 2012

Crowdfunding: http://en.wikipedia.org/wiki/Crowdfunding

I thought it might be a good idea to have a thread dedicated to discussing our individual KickStarter & IndieGoGo crowdfunding experiences (in as much excruciating depth as bearable) so that we may all better understand the resource's limitations.

(Click on images to goto sites)

Anyone care to share their stories?

- Overall expectations going into the "Yes/Pursue" decision
- Pre planning
- What you received advice and were warned about before or during the campaign
- Campaign architecture
- What you were trying to (and not to) convey in the campaign?
- Nuances in the donor premium/reward structure
- Financial and attitude observations of family, immediate friends, long distance extended e-friends, strangers
- Donation expectations and observations
- Take aways
- How did X-input correlate with Y-response?
- What did people seem to "miss"?
- Surprises, good and bad
- Next time what would you repeat and what would you do differently?
- Would you try crowdfunding again?
- Alternatives

Thank you.

rayw · Sep 20, 2012

https://www.youtube.com/watch?v=rY0WxgSXdEE

Anyone else finding this thread r-e-m-o-t-e-l-y enlightening?
Or are the outcomes pretty much what you'd expect or mayyyybe just slightly better or worse than expected?

I'm surprised at the number of popcorn-people that just pop up here for a singe "gimme money" post and... that's the last we're ever going to hear from them.
I find that sad.

Occasionally someone rolls in here already well under way towards their financial goal in their project campaign. Those I find particularly interesting.

And I want to take a moment to recognize the few people who've taken time to reply to the point and purpose of this thread: campaign education.

Nick -
By far, your report is the most comprehensive and well presented, not as a self aggrandizing blab-fest but as a "PEOPLE! PAY ATTENTION!" report of substance beyond what I could hope for.
Looking forward to 'Flight of the Flamingo.'

mckinise -
I think it's pretty cool that you've still hung around here after getting 'Lyncredible' successfully funded.
I'm also looking forward to seeing it. Any updates on the production's progress?

The Hazard Company -
You came . You Saw. You fell short. Then disappeared.
Where'd you go? Whatchuupto?

doovidooves -
"MARCO!"
What happened to you?
No posts since you got your funding for 'Buck Shot.'
I see from your KS page you're still plugging away on it.
"Update #3 · Sep. 14, 2012 : Don't worry guys, post production is well under way!"
What's you're 20 on that?

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GL, everyone!

Caidh Mor · Sep 20, 2012

Do you think you'd be able to change around some of the project colors based on their current status? Just for the sake of being able to sort them mentally more easily?

For Example:

In Progress
Self-Cancelled
Unfunded
Partially Funded
Funded

If you don't have the time, no biggie, but I think it might help those of us following the progress on these things to be able to sift through the list more easily.

Andrew McCarrick · Sep 26, 2012

"Finding Me" has launched on IndieGoGo. $50,000 goal.

http://www.indiegogo.com/finding-me

Only producing on this one... out of the directing game for the foreseeable future.

rayw · Sep 28, 2012

Caidh Mor said:
Do you think you'd be able to change around some of the project colors based on their current status? Just for the sake of being able to sort them mentally more easily?... I think it might help those of us following the progress on these things to be able to sift through the list more easily.

Although this thread seems to be getting plenty of views I'm not getting the impression the effort spent tricking out the color coding is warranted at this time.

Whether it's 88% go unfunded or 92% go unfunded is largely academic.

Orange for expired
Blue for impending
Black for upcoming

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Andrew McCarrick -
Best of luck this go-round :cheers:

Andrew McCarrick said:
Well this is certainly the best fund raising campaign I've been on thus far. We're at $555 (1.1% of our goal) already. Of course nobody I know has actually donated, it's all been driven through other people (our writer and our lead actress). Kind of proves my point on why all of my other campaigns have failed... I just didn't know the right people.

I look forward to your final campaign evaluation. :yes:

Andrew McCarrick · Sep 28, 2012

rayw said:
Andrew McCarrick -
Best of luck this go-round

Well this is certainly the best fund raising campaign I've been on thus far. We're at $555 (1.1% of our goal) already. Of course nobody I know has actually donated, it's all been driven through other people (our writer and our lead actress). Kind of proves my point on why all of my other campaigns have failed... I just didn't know the right people.

Andrew McCarrick · Oct 1, 2012

Andrew McCarrick said:
Well this is certainly the best fund raising campaign I've been on thus far. We're at $555 (1.1% of our goal) already. Of course nobody I know has actually donated, it's all been driven through other people (our writer and our lead actress). Kind of proves my point on why all of my other campaigns have failed... I just didn't know the right people.

Unfortunately it looks like we've stalled out for the time being... stuck $750.

Our Finding Me thread: http://www.indietalk.com/showthread.php?t=43376

Andrew McCarrick · Oct 3, 2012

Just to let you know so you can update our listing, we've lowered our goal to $20,000.

Artificial · Oct 3, 2012

I've finally started my Kickstarter for my first film. I'm only looking for $500. So, check it out if you'd like.

Who's There?

Jalum · Oct 4, 2012

Artificial said:
I've finally started my Kickstarter for my first film. I'm only looking for $500. So, check it out if you'd like.

Who's There?

This seems premature.

I think you're approach is the right one: low budget, explain your situation, fixed funding campaign. However, you don't really talk about the film at all. You've written 7x as much text describing the rewards for your campaign as you have telling your audience what the film is.

Also, get a video up. Not only does it let you connect with your audience, but because of your tiny asking amount, you get put into a special Kickstarter category that promotes small projects with videos. That's an incredible opportunity.

Artificial · Oct 4, 2012

Jalum said:
This seems premature.

I think you're approach is the right one: low budget, explain your situation, fixed funding campaign. However, you don't really talk about the film at all. You've written 7x as much text describing the rewards for your campaign as you have telling your audience what the film is.

Also, get a video up. Not only does it let you connect with your audience, but because of your tiny asking amount, you get put into a special Kickstarter category that promotes small projects with videos. That's an incredible opportunity.

I just added the mid length synopsis.

That's something I'd like to do, if I can find time. Between school and work, I have only an hour or two of free time most days. I'd also like to recreate the project image when I get the time.

Thanks for the insight.

rayw · Oct 4, 2012

$110,000 by Monday Sep 3: Unfunded http://www.kickstarter.com/projects/lakestreetfilms/the-amber-project
http://www.indietalk.com/showthread.php?t=42062

Clyde - The Webseries - seeking $8,000 by Thu Sep 06: In "draft" mode. ?? Presumably unfunded
http://www.indietalk.com/showthread.php?t=41859

Brain Eaters - seeking $850 by Friday Sep 7: Unfunded http://www.kickstarter.com/projects/lovelydeadfilms/brain-eaters
http://www.indietalk.com/showthread.php?t=42346

ODD - seeking $4,000 by Sat Sep 08: Received Partial Funding http://www.indiegogo.com/odd?c=home
http://www.indietalk.com/showthread.php?t=42736

Trapped in Time 3D! - seeking $10,000 by Wednesday Sep 19 Unfunded http://www.kickstarter.com/projects...-a-time-travel-adventure-film-in?ref=category
http://www.indietalk.com/showthread.php?p=283437#post283437

Blew - seeking $4,000 by Saturday Sep 29 Unfunded http://www.kickstarter.com/projects/703639991/blew
http://www.indietalk.com/showthread.php?t=42785

Bimbo Zombie Killers - seeking $6,000 by Tue Oct 02: Unfunded http://www.indiegogo.com/BZK?c=home
http://www.indietalk.com/showthread.php?t=40686

The Dark Master: Battle in the Courtyard - seeking $250 by Saturday Oct 6 Self Cancelled
http://www.indietalk.com/showthread.php?t=42886

Sam's Story - is seeking $20,000 by Sunday Oct 7: Funded http://www.kickstarter.com/projects/1759777461/sams-story-a-film-by-mae-catt
http://www.indietalk.com/showthread.php?p=288808#post288808

The Anachronist | A Steampunk Short Film - seeking $17,000 Sunday Oct 7: Unfunded http://www.kickstarter.com/projects/timdan/the-anachronist-a-steampunk-short-film
http://www.indietalk.com/showthread.php?t=43154

A LESSON IN TORTURE - seeking $20,000 by Thu Oct 11: Unfunded http://www.indiegogo.com/alitmovie?c=home
http://www.indietalk.com/showthread.php?t=43076

The Cornfield Massacre - seeking $7,000 by Sat Oct 13 Received Partial Funding http://www.indiegogo.com/projects/238347
http://www.indietalk.com/showthread.php?t=43563

Club Vamporama Website and Promotion - seeking $1,000 by Fri Oct 19: Received Partial Funding http://www.indiegogo.com/vamporama-promo
http://www.indietalk.com/showthread.php?t=43082

* * * * * * * * E X P I R E D * * * * * * * * * *

OZONE - is seeking $8,000 by Friday Oct 26: Funded http://www.kickstarter.com/projects/ozonproduction/ozone
http://www.indietalk.com/showthread.php?t=43486

Women Under The Influence - is seeking $55,000 by Tuesday Oct 30
http://www.indietalk.com/showthread.php?t=43582

Who's There? - is seeking $500 by Friday Nov 2
http://www.indietalk.com/showthread.php?p=289498#post289498

* * * * * * * * C U N C H - T I M E ! ! ** * * * * * * * * *

Paul and the Hooker - seeking $10,000 by Nov 4
http://www.indietalk.com/showthread.php?t=43323

Verona - seeking $7,000 by Tue Nov 06
http://www.indietalk.com/showthread.php?t=43617

Finding Me - is seeking $50,000 by Mon Nov 12 >> Lowered goal to $20,000 <<
http://www.indietalk.com/showthread.php?t=43376

DRAG HIM OUT! seeking $10,000 by Wed Nov 14
http://www.indietalk.com/showthread.php?t=43709

Blood Brothers - is seeking $4,000 by Mon Nov 26
http://www.indietalk.com/showthread.php?t=43550

Word, the feature film - seeks $35,000 by Tue Nov 27
http://www.indietalk.com/showthread.php?t=43615

Chloe - a short film seeking $500 in their Flexible Funding campaign by Sat Dec 01
http://www.indietalk.com/showthread.php?t=43926

You Should Be So Lucky seeking $15,000 in their Flexible Funding campaign by Fri Dec 07
http://www.indietalk.com/showthread.php?t=43925

Wasp - seeking

$150,000 by Fri Jul 05, 2013
http://www.indietalk.com/showthread.php?t=41474

A few of those have concluded or are about to.
Anyone care to share their experiences?

For those of you still running I hope this post brings another round of attention to your projects! GL! :yes:

Artificial · Oct 5, 2012

A much needed aesthetic change has been made on my project. Now just to make a little video.

From this:

To this:

rayw · Oct 10, 2012

Crowdfunding personal pet peeve: ANYTHING to the effect of "... and help me make this dream become a reality!"

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WriterAndProducer · Oct 11, 2012

how do people promote crowdfunding? besides blowing facebook up? i have tried posting in forums, groups, facebook once or twice a day....any tips?

rayw · Oct 11, 2012

1. Crowdfunding is not panhandling from strangers.

ITREF

2. Don't go to HomeDepot and ask other customers there looking for supplies for their own home projects to fund your home project. Likewise...
3. Ensure that you provide a meaningful product to your customers. Even churches know this.
4. No one gives a sh!t about making anyone else's "dream come true." (Excuse me while I vomit here. BLECCCHHHT!!!!)
5. Identify your film product's customers. SPECIFICALLY who are your film product's viewers? What are your film product's competitors producing? What makes your film product special or unique?
6. Provide a film product customers want - and will pay for/donate/financially support!
7. Don't tell potential donors you're going to spend their money on your toys, (cameras and equipment.)
At the link click on the "Total Revenue" column heading: http://www.forbes.com/lists/2011/14/200-largest-us-charities-11_rank.html
Does the YMCA ask people to donate money so that they can build a better corporate office?
8. Tell potential donors you're paying people to do work.
9. Involve donors early, even in the creation process. (Not at the last d@mn second.)
10. Set up dedicated accounts for the four biggest social media outlets: Facebook, Twitter, YouTube, Blogger/Wordpress. Keep people involved. Let them know how THEIR input is helping THEIR project that YOU'RE producing.

Expect to spend and EQUAL amount of time marketing and promoting your film project+crowdsourcing as you do actually working on the project start to finish, not just before filming.

FTW: Plan projects three deep so that the current project ties into the following project and so forth.

BONUS!: http://www.theclapperbored.com/2011/10/16/indie-cinematographer-crowdfunding/

Also: http://www.indietalk.com/showthread.php?t=38636

Morris · Oct 11, 2012

Great attention grabber.

rayw · Oct 11, 2012

What is?

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rayw · Oct 21, 2012

It's been a while since one of these recent projects hit their stated goal, although a couple of them have received "partial funding". :rolleyes:

I divided between principle and practicality on this particular item.
I dunno. Wish I did.
Maybe some point-counter point would be good.

OZONE seems to has made a great push to get their project funded.
It looks interesting.

7,890

However, at only three posts to this forum I'm concerned we'll never again hear from the organizers.
Their experiences and process would be valued. :yes:

rayw · Oct 23, 2012

Why 'Crowdfunding' May Not Be Path to Riches
http://finance.yahoo.com/news/why-c...RhaWQDBHBzdGNhdANob21lBHB0A3NlY3Rpb25z;_ylv=3
""A lot of people think Kickstarter is a pot of gold," said Eric Corl, co-founder of Fundable, a company that's applying crowdfunding to the venture capital process. But crowdfunding doesn't make raising capital easy. "It makes it easier," Corl said.

As the seed-funding space continues to change and mature, the bottomline so far is: even crowdfunding is a lot of work. Most campaigns raise the first 20 to 30 percent of their total goal from friends and family, said Danae Ringelmann, co-founder of Indiegogo. Entrepreneurs then have to roll up their sleeves and tap their entire network."

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rayw · Oct 26, 2012

Congratulations to the OZONE campaign! http://www.indietalk.com/showthread.php?t=43486
Couple hours to go and they're over their donor goal! Niiiiiice! http://www.kickstarter.com/projects/ozonproduction/ozone

:yes:

Please, please, please provide a few insights of your crowdfunding experience! :yes:

8,146

And there're a couple more popcorn posters petitioning you guys to part with your clams.
Wish 'em luck.