Crowdfunding for Authors: Raise Funds to Publish
Mar 26, 2014
Many writers are not giving their published books a fighting chance at success, because they’re not making the proper financial investment into publishing. They may skimp on marketing, design, and worst of all, editing, because they don’t have enough funding to cover the costs of these elements of the publishing process. It’s understandable, money is tight for most of us these days, and many authors have a great story idea, a great vision to share, but just don’t have the funds to publish.
If they don’t have a full publishing budget, they may skimp on some of the important elements of the publishing process, which can then hurt a book’s chances of success. Poor cover design will cause the book to fail to stand out. Poor or no editing can lead to negative reviews from buyers who do purchase the book. And skimping on marketing means no one even knows about the book. As a matter of fact, in one study it was found that authors who did their own editing made 58% less than the average writer.
But this all doesn’t mean an author should just give up on dreams to publish if they don’t have the budget required. Today authors can raise funds to publish their book through crowdfunding. Crowdfunding is the process of funding a project, venture, or company by collecting many small donations from a large group of people, usually facilitated by the internet. Some popular crowdfunding sites include Kickstarter and Indiegogo. And now there’s a crowdfunding site for authors and books, called Pubslush.
BookLogix has worked with several authors who fully funded the publishing of their books by raising donations through crowdfunding. As part of their campaign, the authors pledged to give donors incentives based on the dollar level donated. Incentives included autographed copies of the book, special edition hardcover copies, t-shirts, and more. If you need more funding to publish your book, crowdfunding may be the perfect option for you. Just be sure to outline the benefit to investors of what they’ll get for donating to your endeavor. Also put together a detailed budget that shows what the funds will be used for, and why you’re trying to raise that amount you want.
Keep in mind that some crowdfunding websites have various restrictions, and one site may work better for your needs than other, so research their terms and conditions before starting a campaign. Like selling a book, you’ll need to do marketing so people know about your campaign. Spread the word, ask friends to share the information, and do be prepared to not receive the funds you’re hoping to get.
BookLogix is partnering with Pubslush to present a free webinar about crowdfunding for authors on April 2, 2014 at 1:00 p.m. The webinar will explain crowdfunding and how it can be used by authors, walk you through the campaign process, and offer tips for success. Register for the free webinar by clicking here.