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Typical costs of producing a quality product movie for a crowdfunding platform?

Hi,

Considering to launch our upcoming product on Kickstarter or Indigogo, we have wondered what would be the production costs of quality movies, for example:

http://www.kickstarter.com/projects/omate/omate-truesmart-water-resistant-standalone-smartwa
http://www.indiegogo.com/projects/canary-the-first-smart-home-security-device-for-everyone

Thanks for any suggestions.

25 Replies

Albin Bajramovic
3
0
Albin Bajramovic Entrepreneur
Founder & CEO at FundCaster
It always depends. However, I recommend developing your idea and story boarding your video before you hire someone. That will save you a lots of time and money. Some producers will agree to do it for a small cut (2-3%) of money raised.
Michael Hoffman
1
0
Michael Hoffman Entrepreneur • Advisor
Incubating a Revolution – Microsoft HoloLens
I have wondered the same question as I viewed a variety of high and low production quality videos on the fundraising sites. Before investing in video production, I'd be curious to research how much difference the quality of the video makes in actual donations compared to investing the dollars in outreach to spread the word further to more prospective funders. I know that, in my own decisions of which Kickstarter and IndieGoGo projects to fund, my decision is rarely (if ever) based on the production quality of the video. I am only a data sample of one, yet my gut sense for myself is that I am not alone and that I would be better served making the best quality video I can on-the-cheap that clearly conveys the usefulness and value of my offering and why I will succeed in delivering, such that I can invest any hard cash in increasing the number of people who know I exist.

food for thought.
Stan SF
4
0
Stan SF Entrepreneur
Manager
Stas, I agree with Albin's comment around developing your idea and storyboarding it before engaging a professional animator / videographer. In my experience, the low end starts around $2k - 3k for a low end 1.5 minute video (with voice over included). On the high end, I've seen as high as $20k for a very robust video that really drives home the point.

Again, to Albin's point, work on your idea and storyboard first. I recommendhttp://goanimate.comas a good approach to start.
Albin Bajramovic
2
0
Albin Bajramovic Entrepreneur
Founder & CEO at FundCaster
Excerpt from blogs bellow...

A crowdfunding video is most often the first, and sometimes the only, thing people will check out before making up their mind about your campaign. The only thing than can affect a crowdfundingcampaign more negatively than not having a video, is having a bad video; one that communicates signals of bad quality or lack of dedication and aspiration.

http://blog.crowdendowed.com/storyboarding-your-crowdfunding-campaign/

also check outhttps://flipboard.com/section/lean-crowdfunding--bzJif1lots of great crowdfunding articles

Yaya Mbaoua
1
0
Yaya Mbaoua Entrepreneur
VP at MED1 and bringing doctors to patients anywhere
Ever heard of teevus.com ? It's both a video creation and crowdfunding site. They create an animated video witn voice-over for you and help you raise funding at the same, without having to spend anything upfront. You should check them out.
Michael Hoffman
3
0
Michael Hoffman Entrepreneur • Advisor
Incubating a Revolution – Microsoft HoloLens
I agree with the sentiments in the blog cited by Albin - a video is critical, it must tell a compelling story, and must convey basic professionalism that does not undermine confidence. If you have an abundance of cash, by all means invest in professional video production and choose a great digital agency that can also help you hone your story (after you've done the best you can on your own) before producing a video around that story. The blog is 99% about the story, emotions and people connection, not professional video production quality. The former is where I would invest my dollars.

High quality does not imply high cost. Many of the professional looking videos are nothing more than nicely done Keynote or PowerPointslideshows with a catchy soundtrack, using the many built in animation effects, which are then turned into videos. Others are obviously filmed by the inventors or founders themselves with clearly no cash investment in the video production.

My point is that, in observing my own behavior when I browse for interesting projects, there are other factors that far outweigh video production quality in my decision to fund:

1 Placement - Did something somewhere create my awareness that the project even exists?
2) Story - Do I understand the offering before the project loses my attention?
3) Product - Is the product useful to me, or is this a worthwhile cause I want to support?
4) Value - is the product reasonably priced for what it does?
5) Confidence - Do I have confidence they can build it?
  • Story is clear and compelling and conveys their confidence in themselves.
  • Team seems to have the skills to succeed
  • Video doesn't undermine my sense of confidence in their ability to execute.
  • Textual story doesn't undermine my sense of confidence in their ability to execute
6) Calibration - Is anyone else supporting it, and if not, why?

Even if I sensed that the founders were frugal on video production so long as the video conveys a compelling story, and sense of basic professionalism and confidence, I would fund the product if I understand the offering and find the offering useful.
Depending on where your team's expertise lies, I would argue that if you had to choose between investing a fixed cash budget on honing your message versus producing the actual video of that message, I would invest the cash in hiring an expert on honing the story. The best video production quality in the world will not hook the viewer if the story does not resonate.

Granted, if you have no one on your team with any eye for design or skills using the animation features of Keynote or PowerPoint, then investing funds on outsourcing video production is the way to go. If preserving cash is a factor in your venture, I would recommend against going overboard dumping cash into professional video production, when the best video in the world vs a good video is unlikely to raise as much money as having 10 times more viewers see and understand your project.

food for thought.
Leena Chitnis, MBA
2
0
Leena Chitnis, MBA Entrepreneur • Advisor
Content & Publication Manager at NetApp
Production houses like Epipheo are great for these types of projects -- check them out online, they are highly reputable and produce work that gets noticed. I couldn't afford them however, so, here is what I did:

I got both commercials (animated) for my product done overseas, and hired American voice actors (ex-pats), who just happened to also do professional voiceover work. Since I was in startup mode, the animator decided he'd help me for free, while the sound engineers only charged EUR130 for post production. Overall, including a lavish lunch for the sound guys, I paid the equivalent of $200 USD for everything. This would have easily costed me $10,000 (because I had the commercial done in both English and Greek) here in the US.

The result was surprisingly amazing:

http://www.youtube.com/watch?v=aHgK4AmkAMw
Stas Oskin
1
0
Stas Oskin Entrepreneur
CTO at eyecam
Thanks everyone for the great replies, FD is really an awesome resource!

So far it seems that producing a movie will cost us less then expected. I will re-read in detail every answer, and ask for clarifications as needed.
Steve Karmeinsky
0
0
Steve Karmeinsky Entrepreneur • Advisor
CoFounder City Meets Tech / Lean Capital Ltd / Placeholder Ltd
Could try Mondo.tvin UK, they specialise in start-up videos
Raphael Londner
1
0
Raphael Londner Entrepreneur
Developer Advocate

Leena,

I agree the RedScooter video is great, especially for $200 (btw, your numbers sound intriguing, since 130 euros ~= $175, so does it mean your "lavish" lunch cost you $25?). But from my experience, the highest cost is the animator's cost- the one you luckily managed toavoid.

Now, there's nothing wrong in enticing people to work for free, but what was the animator's incentive to do so? I would say thata "reasonable" cost for 1'30" animated video madeoverseas (such as Indonesia or the Philippines) is around $1,000 (including voice over).

In any case, I doubt that the startup argument would work foreach of us (if not forANY of us), unless there's something else you committed to in the future or bartered for.

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