Should you crowdfund your film?
Posted on 22 March, 2017 by Team Wishberry
Image Courtesy: GSFTA
For an independent filmmaker, crowdfunding their upcoming film would be the most obvious choice. Thanks to the Internet, content has crawled back up and isn’t leaving the throne this time around.
While running a crowdfunding campaign is actually pretty much the same as marketing any product, there is so much more that goes into it, especially when it is a film. Answering YES to just three questions is what will determine if you should be pursuing a crowdfunding campaign:
Q. 1 Does your film interest people other than the ones working on it?
When you take your idea to the masses make sure that concept has an audience. It would suck if you were reaching out to the public to help you foot the bill to make a film for yourself. Go to the public only when you’re certain that the film is something that they would want to experience. It could be anything — a story of prostitutes challenging patriarchy, or a documentary on the fans of a superstar, or a film shot in just 3-4 takes.
Research thoroughly if the film’s content would interest people outside of your circle. It’s 2017 and there are numerous filmmakers equipped with hi-tech gear on their phones working on indie projects all around you; you need to stand out!
Q. 2 Do you have a network capable of raising at least 30% of the funds to reach the goal?
If we had a rupee for every time a campaigner on Wishberry claimed that they would receive at least Rs. 500per FB friend, we ourselves would fund all the campaigns on our website. We’re not trying to tell you that your online friends won’t give you a dime. We’re explaining to you that your online friends might not even know that you’re crowdfunding (blame it on Mark Zuckerberg’s greedy algorithm).
The quality of your friendship matters over quantity of friends, especially when you’re looking for some monetary support (after all even you’ve un-followed half of your friends from school). Make sure your personal network can back the amount you’re looking for.
On Wishberry, if you don’t meet your target you lose all the money raised, but if you do meet your target, you could always go ahead with a stretch goal. Building a loyal fan base takes time, we always suggest working on a fanbase for at least 6 months before taking the crowdfunding route.
Q. 3 Is the amount you're looking to raise realistic?
Aiming for an unattainable unjustified target is one major mistake most campaigners commit. Setting high standards for your dream film is great, but when you’re getting the public on-board — it’s best to stay grounded.
Here’s some good life advice, take a step back and look at your plans from an outsider's perspective.
If you answered yes to all the above questions, get on board and submit your project NOW!