Ep 34. How do you get your film funded? The three questions you must know how to answer.

Are you considering making a documentary? Do you already have a story in mind? When you’re deeply passionate about a topic or cause, documentary films are a fantastic way to share the story and have others discover or learn about it as well.  

Once you’ve crafted your work and put it out into the world, documentaries have the power to shift hearts and minds.  I’m sure you can already imagine the buzz as the lights come up and you see your audience enthralled and inspired, clapping with admiration and a new passion for the content of your film.  It’s the end goal many, if not all, filmmakers strive for, including myself.

In this episode,  I’m going to share some of the ways you might go about funding your documentary projects – such as crowdfunding or sponsorship– to keep your spirits up and show you what’s possible. 

And I’m also going to cover the 3 key questions I get asked from potential funders when I approach them about supporting my work, so you know how to prepare ahead of any meetings with would-be funders.

Let's get into it.

But to learn more from me,  head to www.MoonshineCommunicationsAcademy.com to find more great content and resources including my free ebook that will help you craft a compelling video story

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Transcript

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SPEAKER_00 0:03

Hello, fellow creatives. Money, money, money. I am a child of the 80s and the lyrics the best things in life are free, but you can give them to the birds and bees. I want some money. That's what I want. Well, they're brutal but honest. And sung much better by the flying lizards than I ever could, which is why I didn't even try and sing them for you right now. But if you want to make a film, you need to finance it. And that's also known as I want some money. And when you pitch a film, that is actually what you're saying. So how do you go about it? How do you fund a film? And today I am going to share three questions that I am always asked. Because if you can answer these three questions, you will be a lot closer to securing that coveted finance. So how do I know this stuff and why am I sharing it with you? Well, these are good questions. My name's Sue Collins, and I'm the host of the Moonshine Moonshot podcast you're listening to, and I have been a filmmaker for over 15 years, and in that time I have tried, tested, tried again many avenues to funding the impact documentaries that I produce at Moonshine Agency. It is no mean feat to get your film funded, and my hope is that by sharing what I have learned with you, you'll have just that bit more info to get you going in your own endeavours. I found it really hard to find this type of information when I was first starting out, so I do hope that you find it useful. I've also just launched the Moonshine Communications Academy where I teach much more in-depth online courses, so you are welcome to check that out if you're looking for some deeper learning. So, for today, are you considering making a documentary? Do you already have a story in mind? When you are deeply passionate about a topic or a cause, documentary films are a fantastic way to share the story and have others discover or learn about it as well. And once you have crafted your work and put it out into the world, documentaries have the power to shift hearts and minds. And I am sure you can already imagine the buzz as the lights come up and you see your audience enthralled and inspired, clapping in admiration and with a new passion for the content of your film. It's the end goal for many, if not all, filmmakers. We all strive for it. Absolutely no exception here. It is so important. But the thing is, filmmaking, and this trips up a lot of folks, it isn't all about the creative pursuit of storytelling. It's much more than script writing, storyboards, camera gear, shoot days. And sure, all of this is critical along with research, your interview lineup, your distribution plan, but there is a really big piece of the filmmaking puzzle that you're going to need to address. And that is the business side of the equation. Getting your documentary funded. If you're a creative type, you're probably cringing at the thought of this. And I know you're not in it for the business, you're in it for the craft. And raising finance, well, that just sounds a lot like sales, but it's something almost every filmmaker has to figure out if they actually want to make a film. And there are three key questions that funders almost always ask when you're pitching. So if you're interested in making a documentary feature, you are going to need to learn the artistic side and the business side of filmmaking. And it doesn't matter if your estimated budget is $3,000 or $300,000. You will need to come up with a funding strategy in order to produce your film. And knowing how to answer these three questions that I'm going to share with you is a really good place to start. Finding a way to finance your film can be just as hard, if not harder, than coming up with a concept. And the sad truth is that half the time I dedicate to making impact films goes into sourcing the financial partners. But don't let that scare you off. The process of securing finance can actually make your project stronger from a creative perspective as well as securing the finance. And I love documentary filmmaking, so I do think it is worth the effort. I'm going to share with you some of the ways you might go about funding your documentary project, such as crowdfunding or sponsorship, to keep your spirits up and show you what is possible. Now, if you're still scratching your head about the comment I made that the process of securing finance can also strengthen your project from a creative perspective, yes, it can. And I'm going to explain how when I cover off the three questions that I get asked from potential funders when I approach them about supporting my work. Being prepared for these types of questions ahead of any meetings with would-be funders will give you the confidence and put you in the front foot, or put you on the front foot, should I really say. So let's discuss a few ways to finance your film. Financing is arguably the most crucial aspect in your filmmaking journey because you're going to need funding for every step of the process. Unlike Hollywood blockbusters, which are financed by big-time production studios, often with really, really large budgets. But as an independent filmmaker, you will have to figure out how to fund your project on your own. And here are a couple of ways you can go about it. Crowdfunding. Now many new and established documentary filmmakers create crowdfunding campaigns to finance their work, as well as other types of film genres as well. But I'm talking about documentary because that's what I do. And there are a few benefits to crowdfunding beyond the financing of your film. I have found that they are a really good way to build awareness of your topic and create an audience for your film well in advance of your release. It's almost like pre-marketing, and if someone is interested enough to give you some money towards making your film, they are very likely to want to see it and hopefully bring along their friends too. So make sure you think about how to keep them engaged throughout the filmmaking process beyond just the crowdfunding. Now, if you're not experienced with crowdfunding, there are a few best practice tips. Firstly, you've got to choose a platform. There are way more than one crowdfunding platforms out there, and they each serve different purposes. Some require you to meet target amounts by a certain date in order to receive the funds, and others will let you keep any donations received, even if you never meet your goal. So do your research and understand which platform will work best for your needs. Currently Indiegogo, Seed and Spark, and Slated are the popular platforms for film crowdfunding, but Kickstarter, GoFundMe, and Pausable may also be worthwhile to check out. A word on the types of platforms. Because they all have different structures and fees, you need to be really clear on this before you choose which one to go with. Some will only release the money if you reach your target, which means all your effort may not result in funding if you don't reach it. So be really careful about the way you set your goal. Others will give you whatever is raised, but depending on how close you get to your target goal, they may have different fees that they charge you to release the funds. And you have to consider if you can still make your project with whatever you have raised if you didn't reach your target because after all, people have invested in your idea, so you're going to need to deliver. You'll also need to create a compelling pitch. Given that you're a filmmaker, create a short video and sell yourself and your project. Why should people donate to your project? What's in it for them and society more broadly? Passion and clear communication are the key, and you'll also want to find a way to connect with your audience emotionally. Show them why you care so much and why they should care too. And you're going to need to be super succinct. So try and keep it well under five minutes. The next part is to set a reasonable goal, and I touched on this just before, but determine how much money you'll need to make to make your film. You want to remember that the budget needs to cover your crew's time, travel, talent fees, not to mention your camera gear and other equipment, and use these calculations to establish your budget so that you can understand exactly how much you need to raise to get to work. And you should also consider if crowdfunding will be the only way you fund your film, or will you also raise finance from elsewhere? I have done a number of crowdfunding campaigns over the years, and I want to be really clear about another point. They are a very useful way of getting finance. They can be very successful, but do your research. Make sure you have a lot of time to do the work involved to make it successful. You will have to be the biggest champion, the promoter, the marketer, the cheerleader the whole way through. Sending out personal thank yous, sending email invitations to every single person you know to get involved. It is a lot of work. So make sure you have time to do it properly in order to get the results that you need. Alright, so the next one I'm going to talk about is sponsorship. This is something that I am very familiar with. Inviting organizations or philanthropic groups is another avenue to get your documentary funded. While we've funded a portion of the projects produced here at Moonshine Agency via crowdfunding platforms, the majority of our films are sponsored by relevant organizations. As a lot of our impact films center on healthcare and health equity, many of these sponsors are in the medtech or diagnostic space, and we've worked with project partners from a broad group of industries: peak bodies, retail hospitals, charities, not-for-profits, philanthropic groups. The list goes on. Assessing the right groups to target involves a stack of research. It will be a lot of trial and error, and to get the doors open can mean a lot of networking as well. You'll send out cold emails without getting a bite. Some groups will want to work with you, some will say it's not to them. And some will never even return your phone call or email. And if you're spending months contacting potential sponsors and you're simply not getting any responses, that could mean it's a sign that you need to improve your pitch. And a strong proposal and pitch is the key to getting that door open or your email opened. The secret is to tailor your pitch specifically to the investor you are targeting. Let them know how you want to collaborate and why working with you will be good for their business, brand, or organization. And you also need to consider the fit. Why would they be a good fit? Are their company values aligned with your project goals? How will their involvement benefit the project outcomes you're striving for? Most funders don't want to just hand over the money and get a logo acknowledgement. You may have a much more collaborative approach. Should I say, you need to take a much more collaborative approach? How can you work with them? How can you create a meaningful partnership? Now, just before I launch into the three questions that funders always ask me, because I know that's what you're waiting for, I wanted to let you know about a great little resource that's available to you. So please take advantage of this ebook that I've written called The Ultimate Guide to Video Storytelling, as it's packed with great info on how to create screen stories. And you can find that over at www.moonshinecommunicationsacademy.com. So head over there after listening here and claim your copy. It will be sent right to your inbox. So now for what you've been waiting for, the three questions. So high fives! If you've managed to land a meeting with a potential investor, they are obviously loving your idea and want to get behind it. So it's all cushy lunches from here, right? You can see yourself cruising with the top down along the palm trend line, Hollywood streets with the hills in the distance as you sip on your latte. Oh my god, that is such a cliche. And let's just come back to Earth because the meeting is actually the first step. Now you have to actually sell yourself and your documentary. The good thing is that after 15 years of successfully financing my films, I have noticed a pattern. The funders I speak with always seem to ask me the same three questions when I have that initial meeting. So there's a strong chance that the potential funders you're speaking with are also going to ask these exact same questions. So the first one, who is your target demographic? This question comes up for obvious reasons. Your potential funder wants to know exactly who you're making your film for so they can determine if it aligns with their own business objectives. The worst answer you could possibly give is this documentary is for everyone. Why? Because the potential funder will know right away that you haven't done your homework, you're not being realistic, and they will assume you have no idea who you're talking to. Which is a really, really big red flag for them. Sure, your film might have a broad audience appeal, and it quite possibly should be seen by everyone. But that does not mean it is for everyone. And without an enormous marketing budget, how do you plan to reach the 7 billion people who make up everyone on this planet? Funders will just not be keen to hear who your film is for, but also to figure out if your audience is the same as their audience. Is there a strong crossover? Now they will have a very good idea of who their target audience is, and you need to know that too. I learned this the hard way when I was in Ubi pitching at a documentary conference. I exclaimed to the commissioning editor in front of me that my project was simply so important that it would suit a broad audience and everyone would want to see it. This enthusiasm was met by a very parental and stern, well, my channel is not for everyone. My channel has a very specific demographic and a project that broad is unlikely to land with them. So no, I'm not interested. Bam, door shut, schooled. So I picked myself up, held back the tears, and figured out how to never be in a situation where I heard those words again. And I'm sharing the answer with you now so you can avoid that humiliation. Consider that your film is for a specific target group whose shared values, interests, or life stage match up with your film's messaging. Who are they and where will you find them? Now, if you haven't spent much time getting familiar with your audience, I suggest you do this before you meet with your potential funder. My online course, Define Your Ideal Audience, can also help if you're feeling a bit stuck because in that course I teach simple research techniques that you can easily use to define an audience for your film. And what research to do in order to identify your audience's values, worldview, and interests, and the right questions to ask when you're researching and what data is useful to collect. So you can learn all of that in the online course. And the reason it's so important is many filmmakers don't really consider this when they're starting out in their projects because they think, well, they'll attach a distributor, and that's pretty much they sort all that out, don't they? But that's not the case. And this is what I was talking about before, where understanding these questions will actually strengthen your creative. Because when you really understand who your audience is before you roll camera, it can really help to shape the way you tell your story because you'll know how to communicate with the people who want to see your work. So it is definitely worth the time invested in figuring out who your ideal audience is before you pitch to a funder and before you roll camera. Now, the question number two: what's your timeline? Okay, this can be another really difficult question to answer on the fly. So it is good to be prepared and realistic. How long do you need to produce your film? Six weeks, six months, maybe it's two years. And in all honesty, the longer lead time probably will work in your favour. Potential funders need sufficient time in order to fit any film-related commitments into their own schedules and their own marketing plans. And if you apply for funding through any of the screen agencies or film funds, their turnaround time is often six to twelve weeks to get an answer. So they are not expecting you to get your film made quickly. So be realistic. I personally don't think I have ever produced a documentary from ready to finance through to ready to distribute in under 18 months. In my opinion, producing a documentary is a minimum three-year commitment from Woe to Go. You are in it for the long haul and you do not need to pretend you can do it quicker than that. It is also important to discuss with your potential funders how you will consult with them throughout the process, from production right through to the day you release your film. Be open about how involved you'd like them to be and how frequently you'll be in contact with project updates. Knowing that before you go into the meeting is going to give them confidence that you're not just going to take the money and run and that you really do intend to deliver on what you're proposing. Okay, so number three, the final one, and this one is so hard when you're starting out. How will your film be seen and how will you measure its impact? As I said before, some filmmakers think they're just going to attach a distributor and that they'll deal with all of this stuff. But if you're an independent documentary producer, you have to be better than that. You have to know how to do this yourself. So it's time to give some thought to how you'll get your film out into the world once it is produced. Will you go down the theatrical route? Publish it straight to DVD. I'm not really sure many people do that these days, but there are some regions where DVD is popular. Maybe you're planning to publish it on a video on demand platform like Vimeo and encourage people to host their own events through hosted screenings. Cinema on demand platforms, for example. It is really good to consider this, even if you're in pre-production phase, because any potential funder is bound to ask, how is your film going to be seen? How is your film going to get in front of your intended audience? Now, if you're not really sure which option is right for you, it might be wise to jump over to the podcast that I did last week on distribution. So rather than rehashing it all here, just jump back an episode to episode 33 and you can listen along to that, which will give you much more information on distribution. It might also be helpful for you to list out all the potential platforms where your film might be seen or publicized, from cinemas to hosted screenings, industry conferences, YouTube, social media. Don't forget things too, like the university like platforms like Canopy that distribute to libraries and universities. And think about how many people use all of those platforms because that's how you can assess your reach. This will also give you a target to aim for, which is something you can measure, evaluate, and report back onto your funders throughout your film's release. It's a bit tricky to measure impact, so you really do have to put thought into what you want to achieve with your film and how you can measure it. Simply listing off social media targets is not going to satisfy a funder who wants tangible results. Can your film change policy outcomes? Can it raise funds? Is it useful as a fundraising opportunity? What is the goal you're trying to achieve? And that part really does come back to your individual project and what your project goals are. You need to share this with your potential funders so they can understand how they can help you achieve those goals beyond simply putting in the money. So to recap on those three questions, the first one: who is your target demographic? Who is your ideal audience? Two, what is your time frame? When will you roll camera and when are you going to release the film? And three, how will your film get seen? How are you going to distribute it? And how will you measure the impact of the film once it's released? Before I fade out, I just want to say funding your film is no easy feat. It will take a lot of hard work and effort, but your film is worth making and you will get there in the end. Being a creative person pursuing a career in film can be really hard going. It can be hard to get people to believe in you and your ideas. People often write off filmmaking as a hobby, but don't give up. If you do the research and you're willing to put in the work, you will make it happen. Just stay really clear on your goals and what you're trying to achieve, and that will keep you motivated. And I hope that things like this podcast also keep you motivated because where there's a will, there is a way. Now, if you're still feeling a little stumped, I would be happy to lend it here. So you're very welcome to send me an email to support at moonshinecommunicationsacademy.com and I'll see how I can help. And I would have such pleasure if you could help me out with one thing. Can you hit subscribe on whatever platform you're listening to right now? Because it helps me know that you're actually finding this content useful and it'll help get the word out to other people as well. So I will be back next Tuesday, and I'm looking forward to sharing more about how to be a creative filmmaker with you next week. Speak to you then.