Crowdfunding a Film

In independent filmmaking, crowdfunding has emerged as a vital tool for creators who seek to bring their unique visions to life without the constraints of traditional funding methods. The success of a crowdfunding campaign can mean the difference between a project’s realization or its indefinite postponement. “Burnt Hickory,” a recently wrapped (about a year ago) crowdfunded horror film, serves as an exemplary case study of how determination, strategic planning, and community engagement can lead to the successful funding and production of an independent film. The film managed to raise just over $15k for their project.

The Crowdfunding Journey

Embarking on a crowdfunding campaign is akin to setting sail on tumultuous seas. The creators of “Burnt Hickory” knew they faced a challenging journey ahead. Achieving a little over their target with the support of 50 backers, the campaign’s success was not merely a financial victory but a testament to the power of community and shared vision. Their goal was modest yet achievable.

Crowdfunding still provides the most approachable method of funding any project. IgnitionDeck has helped many Crowdfunding Portals achieve their goals for Campaign Creators and Platform Owners. Community-based Crowdfunding Zaar closes roughly 80% of its campaigns successfully. Italian Crowdfunding Platform, Innamorati Della Cultura, a platform dedicated to Crowdfunding the Arts also runs campaigns for cinematic ventures, not just for art or music.

Many project creators cannot access traditional funding through banks and cannot finance their creative ambitions. Crowdfunding has emerged as a panacea to help people of all stripes (business owners, creatives, equity funds) take charge of their ability to raise capital.

The Challenges of Crowdfunding

Despite its success (“Burnt Hickory”), the journey was challenging. Crowdfunding is a demanding process that requires constant attention, creativity in marketing, and an unwavering belief in one’s project. The filmmakers faced the daunting task of keeping the campaign’s momentum alive, engaging with backers, and navigating production uncertainties, especially in a post-pandemic-stricken world.

Lessons Learned

The “Burnt Hickory” campaign offers valuable lessons for aspiring filmmakers looking to embark on their crowdfunding endeavors:

1. Start with a Clear Vision: A compelling project vision is essential. It serves as the foundation of your campaign and helps articulate your project’s goals to potential backers.
2. Plan Your Campaign Thoroughly: Success in crowdfunding comes from meticulous planning, from pre-launch marketing to post-campaign fulfillment. Understand your budgetary needs, set realistic goals, and prepare for the unexpected.
3. Engage Your Audience: Building a rapport with your backers and engaging them throughout the process can turn supporters into advocates for your project. Transparency and regular communication are key.
4. Leverage Your Resources: Make the most of the resources available, whether it’s locations, talent, or your network. Creative problem-solving can stretch your budget further than you might think.
5. Learn from Each Step: Every stage of the crowdfunding process offers learning opportunities. Be open to feedback, willing to adjust your strategies, and ready to overcome challenges as they arise.

Tips for a Successful Crowdfunding Campaign

We’ve covered this topic ad nauseam here on IgnitionDeck. However, for your benefit, I will include our best tips and strategies for doing this below.

1. Select a Crowdfunding Platform: Choose a well-suited platform for music projects. For those wanting full control of their Crowdfunding Platform and retaining more of the funding they raise, IgnitionDeck is the best choice.
   
   Kickstarter, Indiegogo, and GoFundMe are popular choices, offering different models such as all-or-nothing or flexible funding. The downside is that you are at the mercy of their rules and pay more in fees for your campaigns.
2. Set Clear Goals and Timelines: Define the amount you need to raise, your target audience, and the timeline for your campaign. Having a well-thought-out plan outlining how the funds will be used is crucial.
3. Craft a Compelling Story: Share your film project’s story, mission, and vision. Explain what the funds will be used for and how it will help your band achieve its goals. This helps create an emotional connection with potential backers.
4. Offer Engaging Rewards: Design rewards that motivate backers to contribute. This could range from digital downloads and exclusive merchandise to personalized experiences or even a role in the creative process.
5. Promote Your Campaign: Utilize social media, your film’s website, and your networks to spread the word about your crowdfunding campaign. Regular updates and engagement with your audience are crucial to maintaining interest and momentum.
6. Utilize Multimedia: Incorporate videos, shorts, film snippets, and other multimedia content to showcase your team’s work and keep backers updated on the progress of your project via social media channels and blogs if you have them.
7. Be Transparent and Communicative: Keep your backers informed throughout the campaign. Transparency about the progress and how funds are used builds trust and can encourage additional support,
8. Learn from Successful Campaigns: Research and analyze successful film crowdfunding campaigns to understand what worked for them and how you can apply those strategies to your campaign,
9. Consider Using a Dedicated Music Crowdfunding Service: Some platforms like IndieGogo are designed explicitly for creatives and offer tools to help you run a successful crowdfunding campaign directly from your film’s project.
10. Prepare for the Effort Required: Crowdfunding requires significant planning, time, and effort. It’s not just about raising funds but also about building a community around your band1.