Show me the money – Make a crowdfunding campaign successful in 8 steps
“Crowdfunding is a trendy approach to financing a book. These public Internet fundraising campaigns usually last between 30 and 45 days and have become a tool for many self-publishing authors.
There are several online platforms on which you set a financial goal and donation amounts with rewards to incentivize contributors. Some focus solely on publishing, while others support fundraising for other fields such as music or medical treatment. Kickstarter is one of the more established sites, and it works on an ‘all-or-nothing’ model: If you don’t raise 100 percent of your initial funding goal, you don’t keep what backers pledged. However, according to Kickstarter, only 32.12 percent of its publishing campaigns are successful.
Indiegogo, on the other hand, allows you to keep whatever money you raised once the amount surpasses a minimum threshold. Publishizer works exclusively with authors to gather pre-orders, build a readership, raise funds and connect with hundreds of literary agents. Publaunch debuted in February, offering similar services.
Launching a crowdfunding campaign takes dedication, enthusiasm and advance planning. But it’s not rocket science. Once you decide which platform will increase your chances of getting funding, follow these steps to help find sponsors.
1. Test your message before launch to know if your story is marketable. When readers told Kathy Pooler how her book Ever Faithful to His Lead: My Journey Away from Emotional Abuse spoke to them, she knew she had an audience.
2. Create a compelling crowdfunding page with three elements: a video describing your project, an engaging description and exciting rewards. For his Kickstarter campaign, Frank Thomas created a video of himself holding handwritten signs outlining his memoir Rise: Even Death Can’t Stop Me. ‘Reading is a far more powerful form of engaging the mind and creativity of others to connect with people on a soul level,’ Thomas says. ‘That video engaged people deeply at the core of their emotional existence.’ In fact, it had 300,000 shares, totaling nearly 8 million views. As a result, Thomas surpassed his crowdfunding goal.”