In their new research study, Understanding the Effectiveness of the Pitch Video: A Crowdfunding Research Study, the team plans to measure the effectiveness of crowdfunding pitch videos and their impact on online fundraising
Sydney Australia – What type of pitch video helps crowdfunding campaigns achieve success or lead to their failure? That’s what the folks at DigitalMindWorx want to research and document. In their new research study, Understanding the Effectiveness of the Pitch Video: A Crowdfunding Research Study, the team plans 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, the upcoming research study will use an online survey to collect quantitative data that will help inform future creators on how to how to make a compelling pitch video based on past Kickstarter and Indiegogo success/failure rates.
“There is very little research in the crowdfunding arena,” said Jess Milne Masters, a film student. “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.”
According to some sources, such as 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%).
Last, but not least, MWPDigitaMmedia, a professional video production company, reports that projects that have a good crowdfunding pitch video are 85% more likely to achieve their fundraising goal.
“The aim of our 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,” Masters continued.
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. Click here to participate in the Crowdfunding Pitch Video Research Study, which will be open to all participants until October 1, 2014.
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