THE MUSE #106
In this edition: Everything you need to know about running a successful fundraising campaign for your indie film, from building pitch decks to throwing a pledge party.
Newsworthy & Opinions
The creative team behind Everything Everywhere All at Once shares how they created a multiverse with a $14M budget and how swapping Michelle Yeoh from supporting star to lead reshaped the narrative.
“In a perfect world, everyone should be able to play any role. But Latinos rarely get cast, even in our own stories,” writes actor and comedian John Leguizamo. In a new open letter, Leguizamo takes Hollywood to task for its refusal to portray Latinos on-screen.
Let’s Talk About Indie Budgets: Part III
Best Practices for Raising Money and Crowdfunding
by Saralyn Armer, Nine Muses Production Executive
Welcome back to Production Muse, a space for getting creative about the business of entertainment. Every month, Nine Muses Production Executive Saralyn Armer shares practical advice for “making it” as a multi-hyphenate artist in the industry and essentials for navigating a career in the arts.
In the first two parts of this series (Part I & Part II), we looked at how to create a preliminary budget for your indie film. Now that you have a ballpark idea of how much money you need to make the project, how do you get said money?! What’s next?
What’s next could look a few different ways.
Are you building a pitch deck to sway investors?
Are you approaching established production companies?
Are you crowdfunding?
Are there any tax incentives or grants you can apply for?
Are you looking for a mix of ideas?
If you’re building a pitch deck for investors or established production companies…
Check out the WeMakeMovies blog post ”How To Pitch A Feature Film Part II: Pitch Decks & Look Books” for a comprehensive breakdown of what a pitch deck is and a “master list” of what could be included. Also check out Ryan Camp Films ”How to Make a Pitch Deck for Your Film + Pitch Deck Templates” for some useful tips and free downloads.
Pitch decks should be tailored to who you are sending it to, so keep that in mind when building or tweaking them. And when approaching production companies especially, make sure your project is in line with their mission and the types of projects they’re making. You will also want to let them know what’s in it for them, so add that info into your pitch.
If you’re crowdfunding…
That pitch deck will still come in handy, but after that, you’ll need to decide whether to raise the entire budget or subsidize the costs in some other way. Be hopeful but realistic with the goal you set, then decide which platform is best for your project and potential audience.
Each platform has its strengths and weaknesses — an all-or-nothing goal can be a bitter pill to swallow down the road — so read carefully. Here are a few articles to help figure out which crowdfunding platform might be right for you:
”The Top Crowdfunding Sites for Funding Films” (TheBalanceMoney.com)
”Directing a short film is expensive. How to crowdfund it” (LA Times)
”How to Crowdfund a Film: 7 Crowdfunding Best Practices” (MasterClass)
What to know ahead crowdfunding: Prep, prep, prep!
Legit. Get all your ducks in a row. Running a campaign is a full-time job so prepare everything before diving in. It’s like running a production before the production.
Decide how long your campaign will be? Is it a sprint or a half marathon?
Who is your crowdfunding audience? With campaigns it’s usually friends and family and maybe friends of friends through social media. Start putting together a list of folks you hope you can count on to donate and share the campaign. Create email lists, but DON’T do mass emails. If you are reaching out to friends and family via email or phone, make a template but make it feel personal.
Rewards and credits. What are you offering your audience? When it comes rewards, make sure you can deliver them in a timely manner. Digital rewards are a great option but there’s always audience members who prefer a material reward, so price out an option you can get in bulk. For example, exclusive mini posters signed by the director are always a fun one! Most importantly, make sure the rewards don’t cost you another short film — you want as much funding as possible to go toward your project, not the rewards.
Map out your calendar. Draft all posts. Pre-record all video messages. Ask your cast and crew to contribute a video message to raise awareness for the campaign and share the campaign on social media. Think about fresh ways to reach your audience each week… or even each day!
Is there a way to stand out? What are new trends on social media and how can you utilize them in getting your campaign seen? Is there something you can create that can catch the attention of a wider audience or a little press?
Angel Investors. Is there someone who can match donations? If you are running a 30-day campaign, this is a great tool to use in the second-week lull or the final-week push as a way of getting your audience to double down and donate. It’s also a slick way to plug the campaign on a consistent basis without getting annoying and double that money!
Pledge Party. When Always Worthy was a just dream in the making, we knew crowdfunding was a resource we wanted to use. For the final push at the end of our campaign we had one last card to play to get us over the threshold: we held a Pledge Party. Our writer, producer, actress powerhouse, Amberlee Colson, locked in a deal with a local restaurant where for every food item ordered from our party, our campaign got a portion of the proceeds. We set up computers with our campaign pulled up, posted signs with donation information, and invited people to come to the party! They ordered food and donated to our campaign all while we hung out together! It brought a lot of people into the restaurant and between the donations made on site and the food proceeds we made a chunk of money from the party! Plus it was a TON of fun!
This all to say, running a successful crowd-funding campaign is hard work but you can get really creative and have fun with it. On that, I’ll leave you with a few last tips:
Tip #1: Think outside the box. Can you do a $5 Tuesday with a reward bump?
Tip #2: Be an entertaining squeaky wheel but don’t cross over into pushy.
Tip #3: Make your last few days really exciting.
Tip #4: Keep the updates coming even after your campaign ends.
Tip #5: Don’t forget to include everyone who invested in the film credits and thank them along the way!! The people who are going to donate usually know you and want to help you succeed, so engage with them.
You have options when it comes to securing funds but one nice perk from crowdfunding is that it’s a way to build your film's audience early on. Making a film is a really long road, so it’s nice to have that moral support along the way.
“This is the other secret that real artists know and wannabe writers don’t. When we sit down each day and do our work, power concentrates around us. The Muse takes note of our dedication. She approves. We have earned favor in her sight. When we sit down and work, we become like a magnetized rod that attracts iron filings. Ideas come. Insights accrete.”
Newsletter run by Nia Farrell, Director of Development & Production at Nine Muses Entertainment
