The ProducingforFilm Meet Up Group had a special guest last night – Erica Anderson from SeedandSpark.com – who gave us a really good workshop on how to approach crowd funding. I’ve been reluctant to get into the current model and have been researching the new equity-based or “regulation crowd funding” that is coming down the road. While that is still something I will pursue via Passion First, I have been won over to the approach that SeedandSpark is taking. In no particular order here are five bullet points that make me appreciate their approach.
1. The idea that there is more to the goal of raising small sums of money to make movies than just those small sums. Movies cost a lot and the idea of working very hard to raise $17,000 (the average amount raised on Kickstarter) seems quite inefficient based on the amount of work involved. So there has to be some other reason to do this.
2. The truth that preparing for and executing a crowd funding campaign is hard work and requires ingenuity and creativity. In that regard, crowd funding is no different from traditional methods of funding. In fact, the hard work aspect makes it fit right in to overall process of filmmaking. It all looks easy and often glamorous but making films or videos at any budget level and is challenging and requires long hours.
3. The practical tips on knowing your audience and understanding them is very important, especially the revolutionary idea that your audience is NOT a demographic. I love the suggestions for approaching this very thorny issue.
4. The strategy presented for the weeks of work required BEFORE you launch your campaign. To me, this is akin to the Pre-production period on a movie. If the prep is done correctly, the shoot will suffer – sometimes fatally.
5. Overall, the understanding that crowd funding is just one other tool in getting your movie made and that it shouldn’t end with the completion of your project. That there is a continuation and a career to be started, or to be grown if you already have one going.
Check out all of the information at SeedandSpark.com and watch for more on this topic in this space. Let me know how your crowd funding efforts have gone!