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Monday, May 09, 2011

IndieGoGo - the best kept secret to helping you raise money to produce your show!

Producing theatre can be a challenge to anyone these days. Especially if you are an independent artist considering producing your own show. After taking into consideration all the factors of contracts, choosing a theatre, selecting your designers and casting your show, many of you may want to know how you can raise the money to make your dreams a reality? Recently I attended a panel discussion on Producing Theatre held at Space-On-White in Manhattan. One of the panelists was Slava Rubin, Chief Executive Officer of IndieGoGo (www.indieGoGo.com), a company which provides anyone with an idea - creative, cause-related, or entrepreneurial - the tools to effectively build a campaign and raise money.

They provide the tools for you to build your campaign but you need to put in some legwork crafting your story and doing community building and outreach to get it all started. They provide integrated social media tools, and the more you use them (it's what they like to call DIWO, or Do-It-With-Others) the sooner you will land you on their homepage, in the blog, or in their social media outreach and press.

Here are some frequently asked questions:

What is IndieGoGo?
IndieGoGo is a collaborative way to fund ideas.

IndieGoGo provides an easy online platform for anyone to raise more money, from more people, faster than otherwise possible. With IndieGoGo you can turn your passion into a funding campaign, promote your idea, engage a fan base, and get your passion funded. We provide all the tools you need to build a campaign and share it with the world.

How does IndieGoGo work?
Anyone can create a campaign, where you tell your story, set a funding goal, and offer perks to contributors. You can use IndieGoGo to create your campaign, share it with your network, engage fans, track information about contributors, and collect money. IndieGoGo provides excellent customer service for creating your campaigns and collecting money. We also promote campaigns through social media and press outreach, as well as on our homepage, in our newsletters, and on our blog.

Why does IndieGoGo exist?
We started IndieGoGo to democratize funding. Now anyone with a great idea has the opportunity to share his or her campaign and raise money to turn a passion into a reality.

Who can use IndieGoGo?
IndieGoGo is open for anyone to use, with any type of campaign - creative, cause-related, or entrepreneurial.

Can campaigns use IndieGoGo for equity investments?
No. All campaigns on IndieGoGo are contribution based.

Does it cost anything to create a campaign?
It doesn't cost anything to create a campaign. There is a 4% fee on the money you raise when you meet your funding goal. 3rd party processing fees also apply.

Where is IndieGoGo located?
IndieGoGo is based in the United States, but we have members in 179 countries and counting. You can post and fund a campaign from any country as long as you have a valid bank account or credit card.

What is a campaign profile?
A campaign profile is the home of your funding campaign. Your profile includes your campaign pitch (an image or video and written story), and any ongoing updates and pictures you want to share with your contributors and fans. Your profile page is where people make contributions, share comments, and pick up widgets to share the campaign.

Who owns the rights to my campaign or idea?
You do. You keep 100% ownership of all the ideas included in your campaign on IndieGoGo.

What do I need to create a campaign?
You need a thumbnail image (that is what people see for your campaign throughout IndieGoGo), a pitch image or video (this is what people see when they open your campaign itself), a clearly identified funding goal, and a pitch story about your campaign. It's also recommended to have perks with your campaign, as well as team members helping you to spread the word.

What are perks?
You can offer perks in exchange for different contribution levels in your campaign. Perks enable you to engage fans, build trust, and provide an opportunity for more people to get involved. You can offer one-of-a-kind experiences, special acknowledgments, or limited supply products. Learn More.

What do I include in my pitch?
Cover the who, what, when, where, why, and how of your campaign. Be honest, transparent, and authentic.

How do I get my campaign on IndieGoGo's homepage, in the blog, or featured in the press?
The more you use IndieGoGo's share tools, comments, and updates (see below), and the sooner you gain traction with funding, the more likely it is you will be featured on our homepage, in the blog, or in our press outreach. We feature campaigns based on their GoGoFactor. The GoGoFactor is a combination of your activity updating and sharing your campaign, and the traction you are gaining externally with contributions. When your GoGoFactor goes up, so does the likelihood you will be featured.

What if I don't meet my funding goal?
If you don't meet your funding goal, you still keep the money you raise with your campaign. IndieGoGo charges a 9% fee on campaigns with unmet funding goals.

For more information on IndieGoGo and how to get started visit their website at www.IndieGoGo.com

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