Sydney, Australia – A new research study is underway to measure the effectiveness of crowdfunding pitch videos and their impact on online fundraising. Conducted by Jess Milne, a Masters student at the Australian Film Television and Radio School in Sydney, this study will use an online survey to collect quantitative data that will help inform creators as to how to make a compelling pitch video.
“There is very little research in the crowdfunding arena. The pitch video is the most persuasive tool available to crowdfunders, I think more research insights are required to help crowdfunders make better and more effective videos.” – Jess Milne, Masters student.
By some estimates, like the Indiegogo playbook, including a video with a crowdfunding campaign to demo the product and explain the project can increase fundraising by 115%.
Kickstarter, another popular crowdfunding platform, reported that campaigns with a pitch video succeed at a much higher rate than others (50% vs 30%). Finally, MWPDigitaMmedia, a video production company, reports that projects that have a video are 85% more likely to achieve their funding goal.
“The aim of my research is to relate how the pitch video in a crowdfunding campaign can incite affective and emotional responses in the viewer and ultimately influence the decision to pledge to the campaign.” – Jess Milne, Masters student.
With an estimated 49,000 launched projects in 2013 on Kickstarter alone, this research has the opportunity to make a big impact for entrepreneurs and creative types. After data has been collected, the unbiased conclusions will be released in a guidebook for filmmakers and other individuals who want to lean how to create a compelling crowdfunding pitch video.
As an incentive, all participants of the study will have the chance to win a $200 iTunes voucher after completing the research survey. The study will be open to participants until October 1st 2014. You can participate in the study here.