Symbid Explainer

Symbid is a crowdfunding platform that offer startups to run crowdfunding campaigns. The difference to other platforms like Kickstarter is that Startups don’t offer a product but a direct share in their company. This offers a completely new way for Startups to raise money and also for Investors to find Startups. Symbid has created an explainer video to communicate their crowdfunding process in an easy to understand way. We wanted to know if people can follow or have problems keeping up.

Our Approach

We used our system to setup an online experiment and targeted specifically young entrepreneurs or people that were thinking for a while to start their own business. They were watching the Symbid explainer video and we measured their responses.

Eye Tracking Analysis

Here you see a heat map overlay of the eye tracking results on top of the original explainer video. The scale goes from blue (little attention) to red (a lot of attention).

Emotion Analysis

The video starts out well with happiness. The happiness declines and contempt sets in, but is that bad? We don’t think so. Have a look at the eye tracking and you will see that people looked at the investor when the contempt came up. This is exactly what the story wants to achieve by showing the difficulty of raising capital. After that, happiness and contempt stay around 0 until at 47 seconds we get a quick response of happiness. At that moment the video shows ‘the chance to grow your business’, which is directly seen as something positive. The next big peak of happiness comes when ‘the possibility of cashing out at any point’ is mentioned. From the data we can see that this is a strong point that leads to quite a positive reaction by the viewers.

Tracking Excitement

The heart rate shows a different pattern from which we can gain even more insight. The heart rate starts to increase from the point on when the video shows people investing in your company, around 32 seconds. That starts to peak at 42 seconds, when you can hear and see ‘you’ll be running your own business’, which definitely gets people excited. The next strong increase in excitement comes shortly after (50 – 59 seconds). This parts of the explainer video shows that you are now actually running your business.

Conclusion

Symbid’s explainer video communicated well to the viewer how their process works. But it doesn’t stop there as it has achieved more than that. The video managed to engage the viewers into the story and process of starting a company and got them excited about being successful in doing so. Bottom line, more than just an explainer video.

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