The goal of most writers is to get published, right? Unfortunately, as many writers know, the traditional publishing industry is difficult to break into and as a result, many authors are choosing to self-publish. However, authors who choose this route will incur a substantial financial risk and out-of-pocket expenses. Enter crowdfunding.
Crowdfunding is a means for artists, entrepreneurs and businesses to raise funds and mitigate the financial risk of their creative projects or business ventures. More specifically, crowdfunding for authors is a way for writers to utilize their personal and professional networks and raise funds to lessen the financial burden of self-publishing.
A successful crowdfunding campaign will not only help authors alleviate the financial risks of publishing, but it also will prove the market viability of their book project and help aspiring authors establish their audience. In addition to being an invaluable resource for authors, crowdfunding is a way for readers to influence what books are published. Crowdfunding helps take gatekeeping power out of the hands of major publishers and put it into the hands of readers and writers.
Authors need to do several things before they start crowdfunding:
- Plan. Campaigns typically last 30-60 days and you need to make each day count. A marketing plan is absolutely necessary to assure you maximize the time you have.
- Get ready to work. The biggest advocate for a book is its author so be willing to market constantly. The more dedicated you are, the more likely you are to have a successful campaign.
- Set funding goals and reward levels. Research publishing costs to decide exactly how much money you need to raise. If you want to sell e-books, for example, you will not need as much as if you want to produce physical books. Because of the variation in publishing costs, you will need to know your publishing goals to determine the funding goal and reward levels for your campaign. (Reward levels are incentives offered to supporters based on the amount of their donation.)
- Use your pre-existing network. Contact family, friends, and co-workers about your campaign. Reach out to your general audience too, but be aware that most of your support will come from people you already know.
- Stay committed. Even if you do not reach your crowdfunding goal, any amount you raise will alleviate some financial stress. Those who supported you want to see your book succeed so be sure to keep them updated on your progress throughout and after your campaign.
There are multiple crowdfunding companies that assist authors in this venture. One of these is Pubslush, a global crowdfunding platform that acts as a tool for both writers and publishers. This crowdfunding platform is for books only, so authors crowdfunding on Pubslush won’t have to worry about their book campaign being overshadowed by other types of creative projects or business ventures.
All of Pubslush’s logistics are targeted to assist writers and publishers. Flex funding, for example, allows authors who procure over $500 to retain their money even if they do not reach their funding goal, since every bit can help an author bring their book to life. Pubslush also provides other services catered to authors, such as in-depth campaign marketing analytics, which will help writers pinpoint their audience.
If you are thinking seriously about crowdfunding for your book, continue to research to find more tips. Pubslush 101 offers more information about running a successful campaign, post-campaign steps, and publishing in general. Remember, when it comes to crowdfunding, you will get what you put in.
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