What I’ve learned… Crowdfunding

What I’ve learned – Crowdfunding

I’m researching crowdfunding as a way to fund publishing and have watched both Julie Hedlund and Johanna Baker-Dowell on their journeys. (I’ve linked to posts & Facebook pages related directly to their journeys). I have also supported a number of books with their crowdfunding campaigns.

Here are just a few of the tips I’ve picked up along the way:

  • Rewards – with books, have an option where people can purchase just the book on Tits own. There have been a few books that I’ve been interested in, but can’t get the book without getting a pile of other things. These range from postcards & bookmarks to additional resources and ebooks. This is also a good option if people want to get a second or third book as a gift (I have done this).
  • Network – before you start, have a network of contacts who can support you in your campaign. Being on the crowdfunding site can help, but having your own network gives you a good head start. This can be family and friends, as well as any social media contacts, such as people who like your author page on Facebook and any Twitter followers.
  • Budget – I appreciated hearing how people would be using the money raised. Not everyone put a budget as detailed as Johanna’s, but knowing what the money would be used for helped sway me, especially if there wasn’t a book-only level. This can also help you to work out how much money you need to raise.
  • Extend goals – a few of the campaigns I’ve followed, including Julie’s, had details of what would happen if and when the campaign raised more money than initially requested. This made it exciting as we not only saw the pledges reach the first goal, and then meet the different extension goals.
  • Work – crowdfunding is not easy money, it’s a lot of work, both planning your campaign and running it. Not only do you need to plan your timeframe for launching the campaign, you also need to be around to promote the campaign, give updates as needed, answer questions, and then afterwards you need to be around to thank your supporters and follow through with the rewards.

I’m still researching this, and there’ll be more to add to this list as I go.

Do you have any tips to add to this list? I’d love to hear anything else about Crowdfunding for publishing a book.

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