What if you’ve already successfully raised funds for your film via crowdfunding, but need to go another round? Proceed with caution.
Running a second crowdfunding project for the same film can be very tricky, particularly if you’ve not yet delivered on the rewards from the first round. In most cases, your inner circle will have already lent their support to your previous project, meaning that you’ll need to look elsewhere for your ‘foundation pledges’ – the ones that get your project off zero and on the way to 30% funded.
Have another look through your personal contacts, professional partners, cast, extras and crew – leave no stone unturned. Finding people who can help to get the project off to a rolling start will be absolutely essential to your success.
Some key points to bear in mind:
• The longer the gap between your projects, the better. A second, very similar project soon after the first is unlikely to yield a entirely positive response. Six months is a minimum, a year is better.
• Tackle the question head on – why do you need more money? There’s no point avoiding this topic, so be very honest and upfront from the start.
• Think carefully about how you present the filmmaking story, explain your budget and how it works so they can understand why you need support a second time.
• Encourage your previous backers to share your new project, and make it really easy for them to do so. Send an update via your original project to keep them in the loop. Give them a shareable graphic for social media that’s eye-catching, simple and includes your new crowdfunding project URL.
• Keep in mind that you’re unlikely to receive another pledge from those same backers, unless you’re offering something new that is really unique and adds to a reward they’ve already pledged on.
• Follow up with any press, bloggers and others who covered your first project. Let them know what’s happening and give them some fresh content to update the story.
Find out more about The Film Crowd campaign: