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Crowdfunding for Authors:How Crowdfunding Can Help You Publish
The rise of publishing technologies and the ease of access to a book’s audience through social media and the Internet have made publishing easier than ever for aspiring authors. More writers, both new and established, are turning to self-publishing than ever before, but there is still a very big difference between publishing and publishing successfully.
How Can Crowdfunding Help Authors to Publish Successfully
In order to be successful, authors need to treat their book like their business and view themselves as not only the author, but as the publisher, too. It’s important that authors don’t just publish, but rather that they take the time to plan, market, and fund their upcoming book. Luckily, crowdfunding is helping authorsto take these steps and not only publish successfully, but smartly, too.
What is Crowdfunding and How It Can Help You Publish
Crowdfunding is the means of funding a project by collecting many small amounts of money from a large number of people, typically via the Internet. With crowdfunding, the project creator is able to devise reward levels at various monetary amounts, to both entice and thank their supporters. Because crowdfunding not only gives authors the means to raise funds, but to also market their book pre-publication, it’s becoming a logical step in the publishing process.
Top Five Reasons Crowdfunding Can Help Authors
Let’s take a look at a few ways crowdfunding can help authors.
1. Raise Funds for Publishing Costs
The most obvious benefit of crowdfunding is that it presents a way for authors to fund their publishing projects. Publishing can be expensive and crowdfunding allows an author to use their network and audience to contribute to the publishing costs upfront, rather than relying on sales to reimburse the costs of publishing. Having funding makes self-publishing less risky and also can help an author create higher quality book.
2. Collect Pre-orders
The reward-based crowdfunding model allows campaign creators to provide pre-determined rewards they promise to their supporters in exchange for their financial pledge. The most obvious reward an author can offer is their book, which essentially allows authors to collect pre-orders through their crowdfunding campaign. The ability to sell books pre-publication gives authors a great advantage once their book hits the shelves.
3. Build Buzz and Drive Traffic to Your Book Pre-publication
Marketing is required in advance of publication in order to build the momentum needed for success in the crowded book market. Authors should be building a buzz around their book in the months leading up to the publication date. Talking about a book that hasn’t yet been published can be tricky, but a crowdfunding campaign provides a tangible way for an author to build a buzz and drive traffic to their book pre-publication.
4. Build Reader Database
Having access to their audience and creating a direct connection with readers can help propel an author to success. Through a crowdfunding campaign, authors can create the direct connection that is lacking in the book market. A crowdfunding campaign isn’t just about the book, but about the story and the person behind the book. Why did the author write the book and why should the reader be interested? These personal bits of information can help to create an author-reader connection.
5. Gather Important Market Analytics and Reader Information
A crowdfunding campaign can provide authors with valuable insight to their audience. Market analytics such as age, gender and geographic location and knowing where their supporters came from (Twitter, email, newsletter blast, etc.) will help authors to cater their future marketing and promotional efforts. By receiving supporter information authors are able to maintain that connection and continue to build the important relationship needed to be successful.
Is Crowdfunding Good Option for Your Business?
Writing and publishing a successful book is no easy feat, but crowdfunding can help to streamline the publishing process and launch an author’s marketing plan. Raising funds is important, but the other benefits are helping to solidify crowdfunding as a natural step in the publishing process. If you’re an author who is serious about success, learn more and see if crowdfunding is right you.
Author Info/Bio:
Justine Schofield is the development director ofPubslush, a global crowdfunding platform only for books.Authors can raise funds and gauge initial market viability for their book projects.She has contributed to IBPA’sIndependentmagazine,Self-Publishers Monthly, Book Marketing Magazine, Business Banterand many more online publications. Shehas spoken on panel discussions about crowdfunding for authors and continues to foster the growth and development of crowdfunding within the publishing process.She tweets for@pubslush.Connect with her on LinkedIn.
