topic : Indie games crowdfunding know-how and follow-up strategy Speaker: Minsu Kim – Smilegate / Manager Field : fund-raising Now : 11/18/2022 (Fri) 14:00 ~ 14:50 summary : An explanation of crowdfunding, which has become an essential system for the production of indie games, operational know-how to reduce bankruptcies and the introduction of post-funding and pre-launch strategies
■ Loktar Ogar! Crowdfunding features you should know
Crowdfunding is a word made up of crowd, which means public, and funding, which means fundraising. Crowdfunding refers to making content or services that have not yet been released to the world through public fundraising. Crowdfunding is also used well in game development. Game planning or games that are still in development are sometimes launched through public fundraisers.
There are many platforms that support crowdfunding. More recently, Kickstarter has received attention and Korean game makers are familiar with Tumblr. In addition, there are crowdfunding Pigna, Indie Gogo and Wadiz, which specialize in games.
The greatest feature of crowdfunding can easily be expressed in the language of Orc, the World of Warcraft character. Loktar Ogar means “victory or death”. So is crowdfunding. Fundraising success translates into victory, or fundraising failure results in nothing. Creators will lose their fundraiser funds and sponsors will not be able to receive the rewards promised by the creators.
Crowdfunding is not just a way to raise money. Crowdfunding is the way to find a fandom for a game project that I develop. Fisk, who founded popular culture theory, summarized that “fandom is related to the cultural taste of subordinate people.” If this phrase is applied to the gaming industry, “subordinate person” refers to a user who will spare no support for my game’s development, and “cultural taste” refers to a genre preferred by those users.
According to data from Kickstarter, the largest platform for crowdfunding related to games, the percentage of game projects is in third place with 11% of the total. Furthermore, among the content that successfully raised money, it was also the game that had the highest success rate (28%, 1st place). If you look at the data of Fig, another crowdfunding platform specialized in games, the rate of reaching the target amount is 75%. Also, looking at data like Tumblbug and Wadiz, gaming-related crowdfunding continues to grow.
■ Crowdfunding, who will sponsor it?
Who supports crowdfunding? Crowdfunding supporters usually behave differently than people who buy games. Crowdfunding is the purchase of intangible products that have not yet been produced. Thus, it has the advantage that it can check out sponsored products faster than regular buyers. On the other hand, without confirming the reality, the value of the product should only be judged by designing, drawing or writing and deciding on sponsorship.
Crowdfunding sponsors can be broadly classified into two categories. First, there are users who are familiar with the financing platform. They have experienced both the advantages and disadvantages of funding and do not hesitate to support their favorite projects. They also prefer rewards of high value and scarcity. Some potential backers are unfamiliar with crowdfunding. These exist mainly in external communities, gaming platforms and SNS.
Keywords are the best way to reach users. Both fandom users familiar with the funding platform and potential backers unfamiliar with it can respond to keywords. Keywords like users who like “martial arts”, users who like “fantasy”, “soul like”, “beautiful girl” and “subculture” are important elements that move the minds of users. And the keywords should be precise and specific. If it’s vague or broad, it won’t attract attention. Before attempting crowdfunding, it’s essential to organize keywords for the game you’re developing.
■ Characteristics of a successful crowdfunding page
A successful crowdfunding page is easy on the eyes and clear. And the beginning and the end are connected like flowing water. In your introduction, you need something that will grab your customers’ attention. That something gives me the strength to read the funding page to the end. After the introduction, there is an introduction to the game. He conveys the key material to express his game design in one sentence and introduces the system of how the game was made.
The second key to a crowdfunding page is “trust”. A financing project should look like a well-built castle. The development plan should be shared, the development team should be presented, and the schedule of future projects should be detailed. Only in this way can you earn the trust of your sponsors. If you’ve looked at the crowdfunding page often, you’ve probably seen a page that says “three team members, who’s the rep”. It is difficult for such a project page to gain the trust of users.
The development schedule should also be well organised. If you look at the program page, you will find that the development program and the delivery program are confused. In this case, you may find the description of “prize delivery”, which is the most curious part of the sponsor, insufficient. Furthermore, it is difficult to draw an accurate blueprint of how development is happening. Also in this case it is difficult to trust the sponsor.
Prizes for attracting supporters are also important. The reward has six characteristics. The prizes should be special. And it should only be possible through funding. The quantity is limited, so it must be rare and the people who sponsored it must be registered. The reward should be noticed by many people and should be recognized for its value by many people.
There is an essential element that cannot be missing in crowdfunding. “Scratch card”, often expressed as a pledge. It is a commitment to add something to the project when the project fundraising exceeds 100% and reaches 200% and 300%. The “lens scratch” is a part that can enhance the perfection that I failed to capture in my design. Also, it becomes the power to add new values that didn’t exist before. “Scratch Goal” also provides an incentive to support fandoms to find more supporters.
Live guide videos and demo versions of the game have become essential. Guide videos or demo versions help backers get a feel for the game right away. Also, the largest number of supporters decide to sponsor after watching a how-to video or demo version.
Crowdfunding is open and you can know the results in two days. If the fundraising does not exceed 100% within two days, there is a high possibility that the project will not be successful. Conversely, funding that exceeds 100% within two days is very likely to be successful within the target period.
■ The time of the dog and the wolf
At dusk, when the silhouette of an animal that comes with its back to the sun it is not known whether it is a dog or a wolf, it is called “the time of dogs and wolves”. In the period following the end of the funding, indistinguishable opportunities and crises come. Whether the approaching animal is a dog or a wolf, you need to lay the groundwork for dealing with it.
Game development is, of course, task number one. And even so, follow-up hookup activities are absolutely necessary. Financing is not just about raising funds. You need to continue publicity so the effort doesn’t fade away and secure funding so the project can proceed through to the end of the rollout.
You need to find a community or SNS that fits the game you’re developing, such as Twitter, Instagram, and Facebook, and consistently expose the game. According to Smilegate’s research, the channels through which people want to sponsor come have become very diverse. Also, it’s important to understand the moment people flock to each platform and promote the item.
