Giving exact numbers is difficult because a “decent” response rate depends on many factors, including:
1) How risky your £100K+ film project is
2) The projected ROI
3) Your film’s anticipated budget
4) Who is in your film & background of everyone on the film’s team
5) Your track record- both financial & reputation
6) How good your presentation & communication skills are
These are typically the factors that can and often will affect your response rate.
You’ll notice that all the above factors are within your control. With learning & coaching, you will improve your skill and experience in these areas, and do better.
20% Response Rate is Very Good
Given all of that, to make a wildly general statement, if you’re getting a 20% response rate when you cold call well-known & reputed film investors & financiers, then you’re doing “very well”.
That doesn’t meant you should pat yourself on the back and just accept that 20%, because you still need to convert that into REAL investments of £100K or more.
If what you’re getting is 20% now, try and improve on it, by acquiring new skill sets.
Below 10% Response Rate Is Not Good
Now, if your response rate is under 10%, again talking generally, I’d say that’s “not good”. You should go to work on the above factors to improve it.
Furthermore, your response rate is usually under 10% because you don’t have experience handling large sums of £100K+ or you have come to the party late with very little opportunity to offer.
Go back to work so you’re strong enough to leap across the ‘valley of film financing darkness’ to get to the other side.
What Really Matters is Real Film Investments!
Let me remind you though that response rates don’t matter that very much.
In the end, if you’re able to secure just a few film investor meetings, but your real-life skills at converting those handful of meetings into genuine interest leading to a £100K+ film investment are rock-solid – that’s what matters the most!
Lastly, if you look around, you’ll probably see and hear about filmmakers & producers bragging about insanely high response rates to initial contact – like 60%-70% and even more. I can tell you that they are clearly lying or using some kind of BS trickery or gimmick to get those responses…And they’re not getting the film investments.
Whenever I get a chance to question some of these claims, I usually get some ridiculous answers. You know what I mean.
If you’re really new to the £100K+ film investing game and still getting your feet wet or even if you’ve been around the block a few times without much luck & low response rates, I suggest you invest in your skills to get the investments.
Once you get more confident and comfortable from the higher response rates and have had a few successful film investor meetings under your belt, you’ll be able to convert the investor interests into real cash investments.