5 Rules for Success at Crowd Funding

Author-Earnings
People who support your crowd-funding campaigns aren’t just money suppliers or future customers; they are also your mentors and teachers – comparable to Beta Readers.
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Just because you love your product or idea, doesn’t mean everyone else will “get it” straight away and open their purse.  Here are some tips on how to have a successful campaign on Kickstarter, IndieGogo and other idea incubators:
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1. Start Your Online Presence Early!
Plan at least 4 – 6 months time to prepare your website, blog and social media platform.  Start networking, write lots of blog articles, upload images from your work to your website.  Start also to collect sign-ups for a future newsletter on your website. You will need it as soon as the crowd funding process starts!
Start creating and producing videos about your writing or production process, or show what problems your product will solve, along with life references from leaders in your field.  Be funny, for goodness sake!  Worst mistake is having a boring video.
But don’t load it up yet, wait until you can show it on the crowd funding site, only then placing it online and link from the newsletter to potential backers.
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2. Make a Business Plan.
YES, you need to start your crowdfunding organized!  This is a business!  Find out who are your potential readers – and your competition?   Too often, authors write books before knowing the depth of their reader base.

Also, check out your suppliers – for authors: editors, layout-ers, formatters, printers etc. – calculate conservatively the money you need a sufficient cushion for hidden or for unexpected expenses.
For Authors: Crowdfunding is a way to pre-order books before they are produced – invaluable for a startup author-publisher.  Crowdfunding means you have readers before your book is published.
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3. Create a Media Kit.
Dedicate a page of your website as a media / press page. Generating publicity for your crowdfunding pledge, using a press kit / media kit is essential, even if it is only one page.  You will be much more attractive as an interviewee, event participant or having your book reviewed when your press kit can be downloaded by anyone who takes an interest.
The goal of the press kit is the same as of all other marketing tools: It should grab the reader’s attention, and provide media people with information and images in a variety of sizes and formats.
Copy your media kit, including images, add a business card to be prepared, if you should meet members of the media or other influencers in person.

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4. Tell the Story of Your Project.
Don’t forget: 80% – 95% of all consumer decisions how to spend their money, is done by emotional motivations.  Write your pitch not like a technical business letter, but rather a story, or a letter, you would write to a friend, and with the “big picture” in mind.  Gear you pitch more towards the “who” and “why”.   For the “how” and “what” and all the technical details, point readers toward your website.  Let your potential backers know who you are and why you want to write the book, create the documentary or manufacture the item.  Who will benefit from your work and how does it change something?
Writing your pitch will take a while, let beta-readers tell you their impression when reading it, and certainly give it to an editor.   You could also use the help of copywriters who offer their services at freelance sites, such as Elance or Fiverr.

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5. Gather Your Friends.
Gather your friends and followers and ask them who might be willing to give your crowd funding campaign a push.  Be aware that you need these friends to help create your successful pledge – and maybe also to jump in when you are short of volunteers.
There is a lot of competition on these crowdfunding sites, so if you want to stand out, use not only your social media platform, but also your real-life contacts, your own networks and their networks’ networks.  If you want people to back your project you have to tell them about it.  More than once… Folks have to hear a message about seven! times, before they act!
Writing teacher Jane Friedman reminds also: “If you are going to ask others to help you, you need to return the favor. And the ideal scenario is if you’ve already been helpful to people in the past—that you don’t turn up only when you need something. Be sure to reach out to your captains and thank them, but also ask how you can help them. Make a thank-you list and post it on your Facebook page or website. Throw a thank-you party.”
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Raising funds pre-publication can help authors to produce a higher quality book.  Crowdfunding offers an opportunity to prove market viability for a book, find readers, reviewers and influencers.
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Kano, for example, who became the Great Britain’s most crowdfunded idea ever, advices: “Give people reasons to care and share.  These folks threw money at you when all you had was a good idea.  They’re willing to wait months for your idea to arrive.  Give back what they gave, and then more.”
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More about this topic:
https://savvybookwriters.wordpress.com/2014/08/03/crowd-funding-more-than-money-for-your-book/

https://www.theguardian.com/books/2016/sep/14/how-kickstarter-became-one-of-the-biggest-powers-in-publishing-crowdfunding

 

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