Whether you’re trying to make a great bowl of potato salad or you have a new idea about coleslaw that might get the crowdfunding industry buzzing again, there’s no denying how essential crowdfunding is as a tool for the modern entrepreneur. More than $5 billion to date has been raised for businesses in need. With modern crowdfunding, you can raise capital through equity, rewards, or even work on clearing out your debt.
As crowdfunding becomes more extensive, the good tactics tend to stand out more because they raise more money. The biggest factor that can make your crowdfunding campaign stand out more than anything else is the quality of your video. A high quality video that accompanies your primary pitch is one of the first things that any potential backer is going to see.
We think of a well produced video has having certain graphics and sound elements to it, but for crowdfunding, the questions that you can answer in your video are just as important. If your video is not answering these five questions, then you may not get the money that you want.
1. Why is this idea essential to the current marketplace?
Your unique points need to describe what kind of problems it can solve. If there’s no value to your product, then why should someone invest in it?
2. Who are you?
People are going to invest you want to know what kind of person you are. This means that it is very important to tell an authentic story during your video.
3. What is your target demographic?
The best problems that you could solve are those that happen on a personal level. Identify who your audience will be, market your video directly to them, and show them value by solving specific problems that they face on a regular basis.
4. What is your product and why does it work?
If people don’t understand what your product does, then they won’t choose to invest.
5. What is the investment benefit from back in your campaign?
Solving problems is what makes your product stand out for the average consumer. Making money is how a product stands out for the average backer. You have to show that you can generate a profit in some area through your video to make a difference in this area.
There are a lot of videos who addressed these five key points, but still fail in their job. That’s because the journey that one takes on during the crowdfunding campaign is one that is measured in miles instead of a single step. Producing a high quality video is just the first task on your to-do list. You need to get out there and market it as much as possible. You may need to create an additional video that will expand on your original thoughts so that you deepen your campaign’s overall footprint.
You just can’t stop moving.
Video is such a powerful marketing medium that it is very likely we will see top companies begin to use it for all of their external communications in the near future. Using video as a tool for crowdfunding puts everything together in one nice package. You can show proof of concept, build relationships, and show your story.
That’s why you need a professionally produced video for your next crowdfunding campaign.
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