Reflections on our crowd funding campaign

One week ago was manic for the 72 team. One month of fund raising was culminating on one final day where we needed to raise £2750, almost three times the amount that we had raised on any other day, and £600 under one-third of the entire campaign. You know the outcome, but let’s have a look at some data from the campaign.

pledges

These graphs show the enormity of what we achieved on the final day having had a relatively lacklustre campaign throughout the month. In our defence, our plan A failed to materialise – that the campaign would be driven by ticket sales. Our plan B was to add more perks, and to push harder on the campaign, which  worked but was arguably quite ugly (sorry if you felt we were filling up your social news feed with junk). Weirdly, we felt as if the final day was a bit of a culmination of a turning point that was two days prior to the end, where we managed to double the income each day. We doubled the income for three days in a row in order to make the campaign work. Before this point, morale was pretty low, and it took some strongly worded (yet hopefully inspirational) Facebook posts to the crew to get the project across the line.

NO CREDIT CARD FINISH:

The primary need to get the job done properly was that there would be no ‘credit card finish’. A lot of campaigns finish with the campaign owner chipping in with the difference in order to get it across the line. Peter Rudge (Exec Producer) and I made it blatantly clear that this would not be happening for our project, because we couldn’t take funds away from the other side of the fence to unlock these ones. With the safety net of a ‘credit card finish’ gone, the team had to go into overdrive to get the project funded. How?

By sharing. According to our data, the project had been shared approximately 700 times on social media in the first three weeks. In the final week we had a further 700, taking it to 1400 overall. Aided by the viral nature of Caleb’s twitter pub quiz, the amount of sharing went up when people started to see that we-might-just-make-it… And, unlike Indiegogo, where there is flexible funding and we’ll take home whatever we get, everyone knew that we got nothing if we didn’t get everything. Contributions counted. Thank you everybody who contributed.

trends

Look at these two lines. The blue is where we were at with our fundraising, the green is where we were predicted to be at the end of the campaign at any given time. According to this graph, it was never likely that we would reach the end of our campaign until the final day, which is why I for one, got stupidly drunk on the final night when we did pass the line, as we were told it was never likely for the previous 30 days.

However, we love a bit of drama on the 72 Project and we especially love overcoming the odds. The successful crowd funding has hopefully put the crew in the right frame of mind for our next challenge, which is to make a 90 minute feature comedy in 72 hours. Today we will start putting together the schedules and work shift patterns. Last week Peter sorted accommodation for the cast and crew and I sorted the production offices. We are getting there. I’ll be handing over the blogging duties to two wonderful people very soon called Mitch and Amy. They will be your tour guides through the social media side of the 72.

So, this is my last post for the next few weeks, I hope to see you on the other side!

James

 

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