As of May 2019, Kickstarter has received more than $4 billion in pledges from 16.3 million backers to fund 445,000 projects, such as films, books, music, stage shows, comics, journalism, video games, technology, publishing, and food-related projects. Add to this all the other crowdfunding platforms, such as IndieGoGo or Fundrazr.
There are a lot of tips for potential literary crowdfunding seekers, but these three should help you avoid some of the biggest mistakes.
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Don’t Ask for Money
Everyone hates being asked for money, so don’t. Crowdfunding is not selling a product – even though your book is, in fact, a product. It’s all about inviting someone to be part of an exclusive experience they likely can’t get any other way. And your perks must reflect that: make them limited edition items and experiences that disappear once the campaign does. Your project description is like a query letter: Hook, synopsis, and bio. Edit the heck out of it! Don’t sound needy.
Creating a novel – or a series of novels, and offer people a chance to get involved. Involvement can mean many things, and some of them can actually be more valuable than money. People might end up donating additional perks and help in other ways that lead to more awareness and ultimately more contributors.
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Plan, Plan, Plan, and Engage
A cardinal sin is not doing enough prep. By keeping the conversation fresh and being involved, you might have a lot of repeat contributors. Constantly post new videos, interviews, and perks, whatever you can. Don’t ask people to come to your campaign page again – ask them to check out something NEW.
Your video needs to add to your presentation, not to repeat the description. Study what works and what doesn’t from other project videos. It should be no longer than two minutes. Quirky and personal can trump slick and professional.
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Know your Audience
Who is your audience? How are you going to reach them? Leverage your fan’s base and reach out to them as well. Connect with your audience in the right way and you’ll have a supportive army throughout the life of your project and, if you’re really lucky, your career.
People you already know are your most likely supporters. Contact them before and during your project. Personal emails take longer but will be more effective than a mass blind mailing. Let friends know what they can do to help spread the word. Thank them sincerely, individually, and often.
Don’t join a new group right before your project launch and think they will care about supporting you. If your existing groups have nothing to do with your project’s theme, don’t assume they won’t climb on board.
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Crowd-source funding is in a nutshell:
- you create a (book) project
- determine a monetary goal,
- set a time limit, submit the idea, and
- once approved, your project appears on Kickstarter, IndieGoGo or any other organization you choose.
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You crowdfund through Kickstarter.com or Indiegogo.com
Not only has Kickstarter funded many books, plays, and films, but it makes you develop a defined plan for your book project.
Many crowdfunding projects fail because the author doesn’t want to think about marketing or development . . . doesn’t plan deeply enough. What wildly successful projects have in common is that their rewards are so cool that people can’t resist, or their presentation so enchanting that you are not only compelled to keep reading but also cannot keep your finger from caressing the “Back This Project” button
Last But Not Least: Plan to launch and end your project during a weekday, daytime hours. Many people take weekends off from their computers, especially if they have Internet access while at work. Don’t let your project end in the weekend wee hours of your own time zone.
Site visitors pledge money in return for rewards that you offer on your project page. Succeed and the money is yours, less a 5% fee and any credit card fees incurred.
Sounds simple, doesn’t it? What’s true for writing is true for Kickstarter or for IndieGoGo as well. To be successful takes study, forethought, and hard work before, during, and after your project is active.
Good Luck!
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Read more about Crowdfunding:
Crowd-Funding: More than Money for Your Book
12 Tips for Your Crowdfunding Project
Startnext – Crowdfunding jetzt auch in Deutschland
Crowdfunding Success with Kickstarter or Indiegogo
Kickstarter vs Indiegogo: Which One To Choose? (2019 Update)
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