Tips and Numbers From KissKissBankBank, The French Kickstarter
Just like the United States, France is exploring and discovering the joys and pains of crowd-funding, and during the Cross Video Days, I discovered a bit more about KissKissBankBank, the french Kickstarter to put is simply, created in 2009 and slowly but surely growing.
As you can see from the campaigns goals from the picture above, the scale of the projects are still small. Adrien Aumont, KKBB co-founder, explained that the average amount of money raised in a campaign was 4,500 Euros and their biggest campaign was (around) 25,000 euros.
France might be a bit behind with the crowdfunding system because it’s a country, like many European countries, that offer a lot of departmental, regional, national grants, therefore (I think) the need for filmmakers to pursue private funding to start a project didn’t rise as strongly as the U.S.
[all pictures from Adrien Aumont presentation]
Even though I have read many articles about how to run a campaign and this was a 101 presentation mostly for people who haven’t heard about crowdfunding, I gathered interesting information about the perks and how to reach your community:
For the KissKissBankBank co-founder, your community is made of three circles:
- Circle #1 is the smallest one and composed of your friends and family. These are the people who support you all the time in your life, so if they likely will participate to your campaign, chances are they won’t be the one putting the big $$.
The advise I had never heard before >> breakdown your circle #1 by group of 10 people. Instead of sending a massive email to everyone, try to regroup people who know each other, your cousins you always went on holidays with during summer, you friends from kick-boxing etc. Then, when one of them pledge, send an email to thank him/her addressing it to everyone in this precise group. Chances are, the other will follow.
This might seem like a very calculated move, and it is of course, but if you’ve ever ran or followed a campaign, you know that one of the hardest part in the campaign is to remind yourselves to people so they will click on the backing button and not feel annihilated by your campaign. Breaking your circle #1 into small groups might be one of the way to do it.
- Cirlce #2 is composed of your friends’ friends. These are the people who don’t have to support your campaign but usually do because they want (genuinely) to get closer to you. They are often people who want to connect and this connection is built via Facebook. (For France at least, as Twitter is underspread while Facebook has a massive place in people’s life)
- Circle #3 is the biggest circle and is composed of your audience at large. It is both the hardest and the most important circle to reach and Aumont advises not to try reaching out for this circle too early in your campaign. For him, your goal should be to manage to reach that circle when your campaign is already on a successful path.
- Always think about those who have the less money.
I never really understood the 1$/Euro pledge in campaigns, because I always thought it was a dissuasive amount, turns out I was wrong. Aumont explained that
- the 1euro pledge frees people who would like to participate symbolically but don’t necessarily have the means to help with higher amounts.
- It opens people to the idea of participating, and people might end up pledging for 5, 10, 15 euros etc because they saw they had the option to put 1 euro.
- And most importantly, it builds your community, and that, for filmmakers especially is key. If you have 100 people who gave you $1, not only do you have 100 more dollars in your budget but you also have gained 100 people potentially interested in seeing and spreading the word about your movie.
- Try to introduce pre-sale in your campaign
That something I have experienced myself as a backer, I tend to go for the pledge that offers me to receive a download of the movie or the final product (whatever that is), seeing that the amount is reasonable.
- Have your best pledges within the average amount of $$ spent.
The average basket in France is 50euros (a surprisingly high number), so Aumont advised that the best pledges be between 50 and 100 euros. The same advise applies to any country.
- Always think about those who have the most money
The reasons for that seem obvious. If you want to see a campaign that offered an amazing number of pledges and got almost $1,2 million (when asking for $100,000!), check Amanda Palmer’s latest campaign.
- Following the Russian Dolls logic, have each perks composed of the previous perks and something more.
HOW TO REACH PEOPLE IN NUMBERS
- People need to see an average of 8 alerts/messages before they decide to back up a project
- Projects that succeeded sent an average of 5 updates
- 1 big reminder about backing the project is often necessary
Like Kickstarter (or unlike indiegogo), KKBB is based on the ‘everything or nothing’ system. If you don’t reach the amount you asked for, you don’t get anything.
Here are the french team advise to measure how long you should run a campaign vs how much money to ask.
Keep in mind this is for France, but once again, the concept of determining how long you should run your campaign proportionally to the amount of money you wish to get applies to any country. You just need to adjust it to your country’s numbers.
- The shortest the campaign, the easier it is to mobilize your community:
- 0 to 500 euros > 7 to 15 days
- 500 to 1000 euros > 15 to 30 days
- 1000 to 2500 euros > 30 to 40 days
- 2500 to 5000 euros > 40 to 60 days
- more than 5000 euros > 60 to 90 days
And to finish this article,
- The Mentor Club
Mentors are organizations, institutions, media, brands who submit projects from their own communities (audience, members, etc). They can also support projects on KissKissBankBank by providing funds or visibility to a project.
There’s not much more given on the website, but in other words, small, medium and big companies can attached themselves to a project and help it, via KKBB, by providing resources. That’s an aspect I find really interesting and I wonder if Kickstarter is looking that way as well.
Hope you enjoyed it and learned a/couple/many things!