Crowdfunding campaigns and kickstarter video production go hand in hand. You want a successful campaign run, you slap a video on there. Kickstarter reports that campaigns with videos have a 50% chance of hitting their goal, whereas the best video-less projects can hope for is 30%.
Putting aside facts, figures, and data for a sec, it just makes sense to use video. If you want people to give you their money, they’re going to need to fully understand what it is they’re sinking their finances into.
(If it was your money being spent, you’d want the same thing.)
And nothing explains quite like video. It caters to the visual – so we can see a physical product, service, or outline – and to the audio – so we can hear pertinent names, figures, explanations. Crowdfunding platforms like Kickstarter, IndieGoGo, and GoFundMe were all built to support, host, and embed videos.
How Much Should You Spend On A Kickstarter Video?
Now, how do crowdfunding videos fit into your budget? How much should you spend for a Kickstarter video, and how do you make sure you get the most bang for your buck?
The price depends on what you want, really.
Kickstarter video production is a little bit on the pricey side, especially if you’re generally new to this field. The higher the cost of production, the higher the video quality – this is a given. The trick is in finding the perfect balance between what you’re willing to spend and how much you’re willing to compromise on your video.
If you’ve got an in-house video production team, you might be able to shave off a good portion of your expenses. If people already on your payroll handle the script, directing, and conceptualization, then the most you’d spend for would be a videographer with entry-level equipment (cheapest starts perhaps at $500 for a half-day session) and simple editing at around $200 or so.
All in all, a clean, watchable Kickstarter video would cost around $1,000.
Polished, professional Kickstarter videos would cost upwards of $2,000. $500 for a talented, dedicated video editor and perhaps around a thousand or so for a crew with quality equipment to produce stunning imagery and audio. Much like DIY, you and your team would handle a lot of the pre-production prep.
Surprisingly, a lot of serious starters are willing to spend anywhere from $4,000 to $10,000 on Kickstarter video production. Kickstarter videos like Emberlight and Sesame have spent well over $5,000 to produce stunning videos to get their point across.
How Do You Get It Back?
So you’ve dished out anywhere between $1,000 to $10,000 for your video. How do you get it back?
Video marketing isn’t an exact science, but between all the data, pie charts, market research, and 24/7 analyzations, we’re getting pretty close. If you want your $10,000 kickstarter video to give you $150,000 or more (like Dotan Saguy and is revolutionary project, the Smarter Stand) there are some things you should definitely keep in mind.
- Share your video at every possible opportunity. Now is not the time to shy away from social media. If you can upload your kickstarter video to YouTube or Vimeo and go embed-crazy on Facbook, Twitter, Instagram, LinkedIn, Google+, and etc., then go for it.
- Learn from others. Before he even worked on the storyboards for his video, Dotan watched over 100 videos on Kickstarter. He took note of the most funded and the least to find out what worked and what didn’t.
- Personalize your video. As with Mike of Dollar Shave Club fame, a personal story of where you got the idea and why you want it to work can add that magical empathy touch that every kickstarter video needs. People are more willing to dole out money if it’s something that’s touched them emotionally.
Again, the in’s and out’s of video campaigns and Kickstarter video production are not an exact science. There will always be uncontrollable variables to factor in (i.e., state of the economy, “duplicate” ideas, trends and fads). As long as you remember to balance budget and quality, share your video like hell, and add a personal touch to your well-researched video script, you should be all set for a successful crowdfunding campaign.