Strategies for Funding Your Writing Project: Top 5 Crowdfunding Sites for Authors Listed
Empower Your Writing Journey with Crowdfunding
Bye-bye, traditional gatekeepers! Here's how to navigate the world of crowdfunding as an author.
As Thomas Umstattd, Jr. puts it: "Traditional publishers function as venture capitalists for authors." Crowdfunding bridges the gap between upfront costs and future earnings, solving a cash flow challenge for indie authors.
In this guide, we'll show you how to crowd fund your upcoming masterpiece and build a dedicated audience in the process.
Key Insights:
- Crowdfunding enables authors to raise funds directly from readers, covering expenses and growing an audience before their book is released. This approach provides authors with more creative control while eliminating the need for traditional gatekeepers.
- To run a successful crowdfunding campaign, authors must set achievable goals, create an attractive pitch, offer appealing rewards, and maintain consistent momentum throughout the campaign.
The Nitty-Gritty:
A. Understanding Crowdfunding
Crowdfunding secures essential funds for writers directly from passionate readers. These funds cover production costs and build an audience before the book is published.
To raise funds, writers should share their projects on crowdfunding platforms, including details of their ideas and exciting rewards for backers. Crowdfunding allows access to self-publishing, granting creative control and ownership, as well as eliminating gatekeepers and lengthy waiting periods.
Alternatively, authors may search for book grants and various funds for writers to support their journey. Multiple paths are available to help authors bring their visions to life.
B. Preparing Your Campaign
When planning your crowdfunding campaign, follow these essential steps:
- Set realistic goals - Calculate all potential expenses (e.g. professional editing, cover design, formatting, marketing, printing, distribution). This foundation lets you set a realistic and achievable funding goal. Consider your existing network and research similar campaigns to find the target that balances your financial needs with what's attainable.
- Build momentum pre-launch - Engage followers on social media channels, share teasers of your book concept, behind-the-scenes of your writing process, and address queries through Q&A sessions or live streams. Create a mailing list to notify supporters when your campaign launches.
C. Launching Your Crowdfunding Campaign
Once prepared, determine the best time to launch your campaign (avoid holidays or major events) and select a platform (e.g., Kickstarter, Indiegogo, Unbound, Publishizer, Patreon) with the right features and focus for your project. Plan for a campaign that lasts around 30-45 days.
💡 Know that you must balance urgency with time: nudge your backers to contribute timely while still giving yourself enough time to reach your funding goal.
Campaign Start: Writing a compelling pitch
1. Narrative
share a captivating backstory that connects with your audience emotionally. Include:
a. A magnetic hookb. A statement of your book's premise and why it mattersc. Details about your qualifications as an authord. The captivating inspiration behind your book and your writing journey
2. Visuals
Use high-quality images like the book cover, relevant illustrations, and photos of yourself to give potential supporters a better idea of the project. Consider creating a short video detailing your project too.
3. Rewards
Offer rewards like signed copies, exclusive bonus content, and personalized touches for your biggest fans. If you've got endorsements or positive reviews, be sure to share them.
4. Call to Action
Simplify the process for supporters: provide a clear, simple call to action to make a pledge or spread the word about your campaign.
D. Maintaining Momentum during the Campaign
Keep your readers updated on your writing and publishing process. Introduce new rewards, share chapters, and create limited-time offers to rekindle interest in your campaign. By doing so, you can attract new supporters attracted by the buzz.
E.wrap up: Post-Campaign Follow-up
Once your crowdfunding campaign ends, complete these tasks:
👉 Deliver rewards: Order printed books, merchandise, or distribute digital content as promised.👉 Communicate the timeline: Inform backers when they can expect their rewards and when your book will be finished.👉 Show appreciation: Thank your supporters through personalized notes and special mentions in your book.👉 Encourage future collaboration: Invite your supporters to participate in your upcoming projects as early backers or provide feedback on ideas. This helps cultivate a strong community around your writing.
The Biggest Crowdfunding Platforms for Authors
1. Kickstarter
A popular choice featuring an all-or-nothing model, Kickstarter offers a strong community and support for creative projects.
2. Indiegogo
Offers flexible funding options and extensive marketing resources, featuring an integrated e-commerce module to help sell products and scale your business.
3. Unbound
UK-based platform exclusively for book projects offers hybrid crowdfunding, traditional publishing support, and editing assistance.
4. Publishizer
Connects authors with potential publishers and allows for pre-orders during the crowdfunding phase, providing a unique blend of crowdfunding and traditional publishing benefits.
5. Patreon
While not strictly for books, Patreon offers a subscription-based model for ongoing support, encouraging consistent content creation and direct engagement with readers.
Now that you know the ins and outs of crowdfunding, get ready to conquer the publishing world! Get started publishing your ebook for free today, or try out our premium plans with a money-back guarantee.
It's free to publish your first ebook on our website. Or test out our premium offerings and get your money back if you're not satisfied.
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Sources & References:1. https://www.kickstarter.com/help/how-it-works2. https://www.indiegogo.com/explore3. https://www.unbound.co.uk/how-it-works/back-a-book4. https://www.publishizer.com/how-it-works5. https://www.patreon.com/help/publish-your-patreon-book
- Embracing technology, authors can use funding platforms such as Kickstarter or Patreon to crowdfund their book projects, leveraging the power of finance and entertainment to attract readers and tap into relevant support networks.
- Focusing on technology and finance, these platforms offer a mix of creative freedom and access to essential resources, enabling authors to bridge the gap between upfront costs and future earnings while building a dedicated audience. In this way, the book industry intersects with the worlds of technology and finance, empowering indie authors like never before.
