An analysis of more than 7000 campaigns on Kickstarter, a global crowdfunding platform, revealed: Pages with videos were 85% more likely to achieve their funding goals. 48% of crowdfunding campaigns with videos achieved successful fundraising goals, while only 26% did without. Source: here
Another analysis of more than 170,000 Kickstarter campaigns found: “Photos and Videos” was one of the top 3 leading indicators of successful crowdfunding campaigns. Previous success and positive comments from supporters were the other 2. Source: here
According to Indiegogo, an international crowdfunding website, crowdfunding campaigns with pitch videos raise 4x more funds than those without. Source: here
In light of these findings, it is impossible to miss the decisive role of visual in your campaign to raise capital.There is no “sure-shot” formula for a campaign to accomplish its fund-raising goals. However, there are ways to increase its efficacy. And visuals seem to convey your idea and its reality to investors rather potently. Thus, increasing the probability of them financing your Start-up.
Influence of imagery
Imagery, static or animated, succeeds in conveying a compelling story. It engages the targeted audience effectively and imprints the intended message indelibly. After all, a visually resplendent presentation receives applause and cheers at a business event.
Let’s look at some statistics:
▪ The average person gets distracted in 8 seconds
▪ 90% of the information relayed to the brain is visual
▪ A video of a product increases likelihood of sale to 85%
▪ An email with the word “video” as its subject pushes click-through rates by 65%
▪ The average person reads only 20% of a page yet views every image posted there
▪ The recall likelihood of information with an image is 65%, three days later. Without any image, it’s mere 10%
Clearly, images influence the engagement, reception, and processing component of decision-making.When you meet investors to finance your Startup, you need to convince them about your valuations. That requires a compelling story that pitches your product, position, potential, and people. The articulation of your research and experience needs to engage, connect, and hook them.
In other words, you’ve to market the commerce and revenue potential of your Start up for capital.
Seeing is believing
Office Depot awarded Jennifer Reich (The Mommy MD Guides) with a generous funding for her office supplies.She had applied with a video to their support program, ‘Survival of the Smartest’.
Visuals can elevate your effort to attract venture capital or angel investment or crowdfunding for financing of your Start-up and some of the reasons are:
1. Speed thrills: You earn the investor’s appreciation when the evolution of your business is in a video or with images. This is because you’ve quickly disseminated information without compromising its impact. You’re also more likely to have made a lasting impression. This is because the processing of visuals is faster and the retention longer than mere text.
2. Comprehend complexity: A video or an image can demonstrate a technology or concept without intimidating the audience. Investors are drawn to business models that don’t require a lot of effort to grasp. A well-executed visual can simplify the complexities of jargons and processes to highlight the value of your Start up.
3. Value of Virality: Crowdfunding campaigns harness the power of social media. Facebook users watch 8 billion videos daily. 85% of videos on the site are watched on mute. Tweets with images receive 150% more retweets than plaint-text tweets. You are more likely to be successful on a crowdfunding platform with a series of targeted videos and images.Given the popular appeal and benefits, it seems an effective use of your resources to incorporate visuals to power a successful fundraising campaign.
If you want to understand your fundraising potential in order to build a campaign, click here.