How To Crowdfund Your Book

Introduction to Crowdfunding Your Book

In this article, we will show you some tricks, tips, and tools you can use to crowdfund your book.

Books have always been considered to be the ultimate vessels of human knowledge.

Over centuries, nations and generations have literally been defined and shaped by written and transferred knowledge.

There are thousands of genuine quotes by great men and women on the importance of books and how they have the ultimate power of transforming the world, and this is one thing everyone agrees on.

The advent of the internet and digital technology initially looked to be a threat to the world of books and publishing, but the opposite proved to be the case.

Even in the current age of virtual settings, digital technology, and iPads, books and reading culture refused to be phased out.

The digital world, in fact, has adjusted to books and publishing. Many modern authors – or authors that publish in the modern age – already make provisions for digital versions of their published books on the many book reading platforms we have today – and we indeed have a lot of them.

Book readers can now access numerous online libraries in the form of book apps from the comfort of their homes – the likes of Amazon Kindle, Aldiko, Anybooks, and many other reliable platforms.

Not to mention those that also provide for audiobooks – for the benefit of those who are auditory learners or folks who have less time to actively read on their hands.

Point is, as opposed to many predictions and fears, books remain relevant. Have always been, will always be.

Now, while picking up a book and completing it may take a few hours to a few days, the process that goes into making one is a whole lot more complex, and demanding.

Writers go through a lot to write and successfully complete a book, going through drafts upon drafts, before finally getting to a final version; the version that gets published (or at least the one which the writer plans to publish).

After going through the rigor of writing – and there is indeed a lot of rigor – and the different stages of proofreading, rewriting, and editing, there comes the big problem of publishing.

Traditional Publishing And Its Challenges

Going through all the problems related to publishing is almost near impossible, and will probably take up this entire piece. So, we’ll be focusing on the challenges of publishing that concern ‘writers’. Let’s keep in mind that the main essence of this article is to enlighten writers on how to crowdfund for publishing their books. The need to crowdfund and self-publish is as a result of the many challenges writers face in publishing; this is why we’re addressing these challenges first.

The world of book publishing may be very perplexing.

This is due to a number of factors, but the one that affects you as a writer the most, is that the book publishing industry has seen a significant transformation in the previous ten years, and the majority of the advice given is out of date and inaccurate.  The main forms of publishing are primarily traditional and self-publishing and the fact that you’re reading this article means that you already know the difference (or at least, you fairly have an idea of what it means).

Without wasting too much time discussing the problems with traditional publishing, there are a lot of reasons why most people decide to self publish nowadays. For a few reasons, traditional publishers are no longer the most ideal way to go.

Going the traditional publishing route was probably a no-brainer just 20 years ago, because there weren’t really any other ways to get a book into readers’ hands. So of course you accepted the bargain.

However, the game has evolved since then. The alternative self-publishing options are preferable to a traditional publisher for the majority of authors in today’s book publishing landscape, mainly because publishing companies are no longer the gatekeepers to reach readers. They really offer little prestige or access, and most obviously, they are no longer the only option.

With the massive degree of change the world has experienced so far, traditional publishing has become increasingly difficult, which is why most people have decided to venture into self-publishing.

Thankfully, the current world order, with the presence of social media, followership, and more decentralized IP ownership, self-publishing is not as difficult as it used to be. Even beyond books and publishing, being your own boss and promoter is increasingly becoming the order of the day in many areas.

To many modern writers, traditional publishing will likely appear to be a stressful process. Authors usually have to find book agents to represent them to publishing houses in traditional publishing.

Then, together with the agent, they get to propose their book concept or ideas to a publisher.

The publishing house buys the author’s ownership of the print license in exchange for an advance on revenues if the pitch is successful and the publisher offers the author a publishing deal (that the author does not have to pay back).

The book is entirely the author’s work, and the publisher sometimes offers editing assistance, sometimes not.

After that, the publisher oversees and handles the entire publication and marketing process (the second and third steps).

Traditional publishing may have some advantages, but the challenges that writers face in the process may not just be worth it at the end.

From the loss of ownership rights and profits to the loss of creative and content control, given the huge time commitment you have to dedicate to it, self-publishing may just be the way to go.

Self-Publishing And The Gift Of Crowdfunding

If traditional publishing is no longer as palatable as it used to be, let’s talk about self-publishing, and particularly, crowdfunding for self-publishing your book (which is the main reason why you’re reading this, after all).

The author maintains and controls the entire process when using the self-publishing strategy, and they keep ownership of their book. There are many distinct types of self-publishing, but at its heart, the author handles all of the publishing tasks – or hires a few persons to handle some of the relevant tasks. There is no requirement for approval, no payment upfront, and the author keeps all rights.

Self-publishing is typically the best option for most authors if they can produce a professional-quality product with their work. You might not want to self-publish if you can’t perform a professional job, without sounding too harsh, you may not want to publish a full-length book at all.

Everyone does judge “a book by its cover” – in this case, quite literally – as the adage goes. But in self-publishing, it’s not just the cover.  A book’s credibility and authority can be inferred from the title, book description, author photo, blurbs, and even the author bio.

As a writer, you look more professional if your book is professional.

Self-publishing, in the opinion of some, still carries a stigma. The available data, however, seems to support the opposite. Hugh Howey, who self-published his bestseller Wool, a novel which has now sold millions of copies and is currently being adapted into an Apple TV+ series.

Hugh conducted a study on 200,000 publications and found that, on average, self-published books for sale on Amazon had a higher star rating than books that were conventionally published.

It all comes down to the reality that you will be successful if you are ready to put in the effort to ensure that your self-published work is extremely professional.

Financial support is likely the greatest challenge that comes with self-publishing. This is due to the resources that a publishing business provides, which will greatly simplify the publication process, and unless you are very well settled financially, these resources are not readily available to you as a self-publisher.

The process of getting a book published involves numerous considerations.

Your book must first be edited, then you must create a book cover and layout for it, and finally, a publishing business must publish your book. And to put up all of these things, a lot of money is required.

As a self-publishing author, this is where crowdfunding comes in.

Crowdfunding as a Tool for Successful Self-Publishing

Many people crowdfund for numerous reasons. Mostly, we’re all familiar with people crowdfunding for health reasons on GoFundMe and other crowdfunding platforms on the internet.

Technically, the process is the same when it comes to crowdfunding for your book, except for the fact that in this case, you’re crowdfunding for your book.

Through relatives, friends, and other people who are eager to support your effort, crowdfunding is a way to raise money for a project. Because there are so many costs associated with publishing a book, authors occasionally require financial assistance.

A crowdsourcing campaign can be quite effective in such situations.

You might be wondering if crowdfunding is effective for all kinds of books.

The truth is that it complements every genre to differing degrees. Sci-fi, business, and fantasy books appear to be among the more popular genres you find on crowdfunding platforms based on previous projects.

But that doesn’t mean you can’t succeed with a totally different kind of book.

Success of a campaign is more dependent on the creator than on the particular genre they write in. Anyone who is enthusiastic enough about their project, and ready to put in the time and effort for marketing and promotion, should consider using crowdfunding.

So, let’s start with “why”. Why should writers go for crowdfunding?

The first reason is that it allows you to create enough momentum and traction for your book.

Crowdfunding is more than just a pre-order process; it’s a chance to rally your biggest loyal followers and supporters around a single objective. Because we’re not just searching for sales (traditional presale), but rather for assistance in making an idea a reality, crowdfunding gives authors a reason to ask for assistance, participation, and sharing.

When used properly, crowdfunding can be a rewarding experience that involves your readership, followers, and supporters actively in your project.

Secondly, it gives some degree of validation to your book, even before completion.

Examples are a good way to give context to messages, so we’ll be giving another example here.

The creator of ContentWarfare.com, Ryan Hanley, spent a few years cultivating a fan base interested in the idea of disseminating potent, timely messages that transform lives. He has achieved this by giving practical content weekly, with consistency.

And he has been doing this for years completely for free.

Ryan visited Publishizer.com, an author crowdfunding website, after becoming interested in publishing his book.

This is due to the fact that Ryan already had a following and a solid reputation due to the work he was already doing, but he hadn’t yet finished the book.

The risk here was: what if after years of authoring the book, he discovered that his readers weren’t willing to pay?

Because, as some marketers like to think, when you provide so much high-quality information for free, there is a potential that when you charge for your work, people won’t buy or pay for it.

But this wasn’t the case.

To cut a long tale short, Ryan launched his project on the crowdfunding platform, and within 30 days, he had raised over $10,000. Ryan is now certain that his readers will enjoy his novel. Even better: he has the resources to professionally produce and transport it.

Writing a book requires a lot of time, and good ones take even longer periods.

If you choose to crowdfund your book, you’ll discover within 30 days whether readers are truly interested in your concept.

Also, crowdfunding your book creates eager anticipation from your potential audience and followers. 

At some point during and after your crowdfunding campaign, you’re really not the only one invested in its success any longer. The effort that goes into financial donations and contributions comes from a place of general support.

These people simply want the book to succeed, because they believe it deserves to. Therefore, they eagerly await its completion and final publishing.

And if there’s one thing a book needs, it’s people who believe in it, because this creates word of mouth publicity more than anything else. And if your book lives up to the hype, you can bet on even further success.

At the risk of sounding cliche, let’s check out another example. Leo Babuta created ZenHabits.net. He has developed a following of hundreds of thousands of devoted readers who are drawn to his idea of simple, healthy living over the past few years.

Because Leo has regularly produced valuable content for his audience, many of them will queue up to buy anything he produces, regardless of what it is (see a trend?).

Leo is one of the few people that doesn’t need to crowdfund for his book due to financial constraints (because he’s doing just fine financially).

But Leo is making use of crowdfunding to promote his most recent book. In just a few weeks, he has already raised more than thrice the minimal fundraising requirement.

Similar to how crowdfunding enables us to make our book into an occasion that energizes and stimulates our readership, it also generates hundreds (or in Leo’s case, thousands) of excited admirers who are anticipating your book. The wonderful thing is that the crowdfunding campaigner can involve his followers in the design, printing, and order fulfillment processes.

Instead of suddenly announcing, “Hey, look at my book, kindly buy it”, you have the chance to share your journey and make your loyal followers an active part of the entire process.

Wouldn’t it be lovely to know that several hundreds, or even thousands of readers are anticipating your book even before it is released?

That’s exactly it.

There are many other advantages of crowdfunding, but we don’t need to exhaust them all here.

The point is, there is an organic, authentic feeling to crowdfunding for your book, as opposed to traditional publishing. It is a journey, which consists of introducing yourself, your beliefs and ideas to a group of readers. These folks are in it for what your book offers them, rather than publishing houses whose sole interests are to make profit through you (not that there’s anything wrong with that).

So, having gone through the advantages, let’s address a few preliminary (and practical questions) asked by writers before embarking on their crowdfunding projects. The first, and most common is how long does a Crowdfunding project take?

A crowdfunding campaign typically lasts between two and three months.

After your book is written, you’ll need to budget one to two months for planning and setup as well as about one month for conducting your campaign.

From the beginning of preparation to the finished campaign, you can generally anticipate between 100 and 200 hours of effort.

Keep in mind that the more hours you invest in preparing and carrying out your campaign, the more likely it is that you will succeed and attain your objectives. That kind of applies to every other thing in life too, if we’re being fair.

Another question that writers ponder a lot is whether there are any drawbacks to crowdfunding.

The main drawback of crowdfunding is that if you don’t meet your goal, you don’t get any of the funds (with some crowdfunding platforms, but not all of them).

You will then need to discontinue your efforts to produce a book and let your investors know that the project has been shelved (hopefully temporarily).

As a result, when you launch your crowdfunding campaign, you should position yourself for success. Here are some guidelines to follow in order to succeed:

Make Early Plans, and identify all Necessary Details

This really goes without saying. It will practically determine the success of your crowdfunding campaign, especially as the campaign enters its mid to later stages. Making early plans involves ticking all the necessary boxes and answering the right questions yourself.

This way, it becomes easier to show others what your project is all about, and to address any inquiries or concerns they may have.

Your campaign’s success will depend on how much time you devote to planning and research.

To fully plan your campaign and make sure you meet your project’s funding target, you’ll need about two months at least, before your campaign is launched.

Make sure to take into account all the expenses that will be required to run the campaign as well as to produce and sell the final version of your book, including design, editorial, printing, packaging, shipping, and a litany of other expenses.

Asides from your already established fan base (if you have one), many funders and contributors are much more likely to donate to a campaign that is edging towards, or has already surpassed its goal, so be careful enough to make your fundraising target less than your overall goal, with the objective of overfunding. It’s an old trick in the book, but it works.

Like we have stated earlier, a successful campaign depends on having a good plan and providing yourself enough time. Consider how you can sell your ideas most persuasively, where you can reach and connect with your target audience (depending on the kind of book you’re writing). Also figure out the duration and timeline of the campaign.

Choose the Right Crowdfunding Platform

This is just as important as other aspects of planning your crowdfunding campaign.

For many reasons, the platform you end up choosing may not be suitable for your campaign, which may end up counterproductive for your entire project. Let’s highlight a few platforms and examine their features and advantages,

1. Kickstarter 

Literature has remained a good aspect of Kickstarter, a pioneer in the crowdfunding industry. All forms of literary endeavors are welcome in its publishing area. So far, whether they succeed or otherwise has largely depended on the creators of these projects.

There is no need for a review stage when crowdfunding with Kickstarter, as opposed to crowdfunding platforms such as Unbound (which we’ll be discussing next). You just need to create the campaign and then let it run. The platform’s backers, for better or worse, make clear the worth of any project.

Designing your campaign project as carefully as you can is the greatest approach to make a positive first impression on Kickstarter.

Both an engaging and well-thought-out description and compelling incentives for your backers are important. The incentives pledges come with the power to make or mar a Kickstarter project.

It is absolutely essential to give your best when you use the platform’s services.

The platform does often create certain wonders for creators with their projects, and you can stay inspired by looking through some of Kickstarter’s publishing projects.

2. Unbound

The preferred platform for crowdsourcing in self-publishing is Unbound. It specializes in both fiction and nonfiction books.

However, because of its effectiveness and popularity, its editors are very selective. Aim for the perfect pitch, including details about your book’s budget and marketability.

Once your campaign has been reviewed and authorized, Unbound assists you in organizing, publicizing, and funding it. Additionally, you receive editing services to guarantee that your book is flawless before it is released.

The platform then produces a copy of your book.

Even Cambridge University Press and Bloomsbury collaborate with Unbound to aid in exposure. In other words, this is a premium, albeit demanding, option where promotion, self-publishing, and crowdfunding come together to deliver the best shot at success.

3. Indiegogo

Quite the catchy name eh? Good thing is, its features are just as interesting.

Similar to Kickstarter, Indiegogo allows writers to launch a campaign for their projects and wait for backers to provide funding. There are two different types of financing, however, that can be used for various projects, as long as the objective remains reasonable

You can opt for a fixed sum, which requires you to reach or surpass it in order to keep the proceeds.

The other option; flexible financing or flexible funding, rewards you even if you happen to fall short of your objectives, as long as you can still provide the benefits you have promised.

For publishing projects, any system can be used.

The abundance of choices you have while creating your campaign is another benefit of using Indiegogo. To persuade funders that your project is valuable, you can make your campaign words, design, multimedia, and the incentives be as appealing as possible.

4. Patreon

Consider Patreon if you desire money for your whole body of work rather than just single projects. Basically, you make a profile describing what you do and then, if and when necessary, set crowdfunding goals.

For instance, as a writer, you can gain followers on Patreon using your short fictional stories, tutorial videos, and tiers of prizes for devoted supporters. You might ultimately decide to launch your own webpage or self-publish a book of poems.

You can enlist the support of your clientele followers or community if you’re having difficulties in covering the costs.

Just state your financial objective, describe why it exists, and spell out the benefits that your backers will receive if you succeed. You can have multiple objectives at once, but watch out for overcommitting.

5. Publishizer

The platform that worked perfectly for Ryan Hanley, in the short anecdote we gave earlier.

Publishizer is another platform devoted to writers. It has plenty of industry experience and benefits for authors, despite being less mainstream than Unbound or Kickstarter.

On this platform as well, you also get to submit a book idea and await approval before beginning your campaign. After the process is complete, the team at Publishizer will contact any publishing companies that could be interested in the feedback you received from the general audience. At the very least, you’ll get suggestions for what to do next.

Remember that you are solely responsible for the strategy and promotion of your project on this platform.

6. GoFundMe

Definitely the most recognized platform in today’s digital day and age. It has been used for crowdfunding many, many types of projects and causes, and writing causes are not an exception.

It’s frequently utilized for charitable causes, but it can also promote private projects, particularly motivational ones. For instance, a memoir or important history book can get a lot of support and funding on a platform like GoFundMe.

The user experience on GoFundMe is also quite comfortable and less complicated. This makes a whole lot of sense, as the platform emphasizes helping others rather than rewarding them.

However, you still need to set up a strong campaign that explains the project’s purpose and urges people to contribute.

GoFundMe may be the ideal platform for writers that value a community spirit and write with the intention of raising funds and connecting with the right readers.

Because there are so many variables, publishing a book is actually much harder than writing one.

Although crowdfunding platforms might ease part of your burden, you should be ready for a wide range of difficulties that go beyond money and supporters.

Learn as much as you can about your publishing alternatives, whether they are independent or traditional.

How do they function?

What risks exist?

Most importantly, do not be reluctant to seek assistance. All of these steps can help prevent unpleasant surprises.

Calculating Your Target

Calculating your fundraising goal can be challenging.

If you set too high a target, your campaign might not be successful. However, if it’s too little, it could not be enough to pay for everything. When choosing a goal for your campaign, you must take into account both of these factors, and find the right balance.

Determine a reasonable sum by adding up all the costs (book cover designing, advertising, printing, distribution, etc.).

To make sure you’re correlating with realistic goals, have a look at similar campaigns to examine their financing goal, and what they offer in return.

Your cost target should not discourage your potential backers in the possibility of executing your project, nor should it belittle the importance of your whole campaign.

The Value Offered in Return

Almost any shape or size is possible when it comes to rewards for your backers. It’s an opportunity to interact with your audience and show off your creativity while also giving them something in exchange for their assistance that goes further than the commitment to finish your book.

Depending on the crowdfunding site you select to launch your campaign, different incentives and benefits may be available.

In contrast to Patreon, where there are many tiers of membership that will define what monthly extras and incentives fans receive, platforms like Kickstarter allow you to price your rewards differently.

But whatever you choose, start modest, because a long list of diverse rewards will probably be too much for first-time funders.

It’s always better to create anticipation and momentum early on by introducing additional benefits or offering a constrained number of rewards at a discounted early-bird price.

Ultimately, you will be the best person to understand the preferences of your community.

A one-on-one conversation with the author, special autographed editions, posters, tote bags, and bookmarks are just a few examples of what this may entail.

Whatever you conjure up, make the benefits specific to you and stay true to the spirit of your book. Make sure there is something valuable throughout each level, even the lowest, and that you give a variety of incentives with a reasonable cost.

The projected arrival times for each tier as well as the shipping charges for multiple destinations must also be taken into account. Inform your backers on when you’ll send out, as well as when they can expect to be given their prizes, and be sure to account for these fees.

Let’s examine a platform like Patreon, for example. Part of the incentives for backers is that all levels of subscribers must receive regular additional content.

The material should support your book and may include unpublished short stories or articles that expand on the theme or plot of your book, access to chapters or scenes that were cut from the final draft, and early looks at new book cover designs, snippets, or even teasers from upcoming works.

You could also get readers involved by asking them to identify a character or location, and you could thank your most devoted fans by including them in the book’s Acknowledgements section.

Bonus material does not, however, have to be written. You could start a podcast to delve deeper into the subject of your book, share writing advice on your author YouTube channel, start a “booktube” with shorter clips made just for your subscribers, or take part in a live Q&A with questions from backers, regardless of whether your campaign is on Kickstarter or any other platform.

Have fun and demonstrate to your backers how much their support and contributions mean to you and your entire project. There are so many possibilities and ideas to consider.

Promote Your Campaign Relentlessly

This aspect of crowdfunding may just be the piece that ties everything together. We can talk about other important aspects like selecting your audience, selecting your platform, being clear on your goals and project details, but pushing your campaign as wide as possible is what makes it successful.

In any project requiring the input of a large group of people, promotion literally increases its chances of success, and the same playbook applies here.

Promotion is in fact one thing that traditional publishing companies offer writers in convincing them to get on board with them – which shows how important it is to the success of written projects.

In truth, clicking the launch button only marks the beginning of your campaign, and it is by no means its end.

Once your campaign goes live, devote some effort to being a fantastic host and engaging with your audience. Share photographs and videos of your progress while also updating your supporters on the process of production and how their donations have impacted your self-publishing adventure.

In order to keep people’s interest and maintain momentum once the initial excitement surrounding your project has subsided, it’s a great idea to have a number of surprises prepared, such as freebies or exclusive excerpts from the book. What will attract people’s attention, you might ask?

How does your writing project differ from the others that are already published?

Why should they support you? Just go with it and concentrate on why your project is special. Ask yourself these questions, answer them, and tell it to your audience in different ways, over and over.

Promotion requires patience, as the results may not be visible for a while. It will take considerable time and energy to run a crowdfunding campaign because you are essentially selling readers a pre-release copy of your book.

As a result, you must actively market your cause and cultivate a base of backers who would be interested in seeing your project succeed.

Making sure people are aware of your campaign is a primary priority after it has been launched. Do everything in your power to spread the word regarding your project as much as you can. Start by promoting your campaign on websites and social media channels where you already have some degree of following.

You never know who might be listening, so be sure to voice out your campaign when using these platforms. You must maintain your audience’s interest in your material; and you don’t want to constantly repeat the same message and call to action.

Segment your project down into smaller stories that you can tell your audience during your campaign, such as how the concept for your book came to be, difficulties you’ve faced, your creative process, and your future goals.

Publish exciting photographs or drawings that may appear in the book, highlight significant campaign objectives and benchmarks, share articles in which your project has been mentioned, act as a guest on other authors’ blogs or podcasts, and attend literary events.

There is absolutely no end to what you can do to spread the word on your campaign and project, so make sure you take advantage of any chance that presents itself.

Last Thoughts on How to Crowdfund Your Book

By now, you may have surmised that crowdfunding requires a significant commitment of time and effort. It’s simply a lot of work. However, if your book concept is one you firmly believe in, it will all be worthwhile if you are able to materialize your dream.

Tell your story, inspire people with your passion and enthusiasm, and get them invested in your project.

You’ll then not only have the money to write and publish your book, but you’ll also have the backing of a readership that has developed throughout your campaign and will support you in all of your future ventures.

Although achieving your project’s financial goal is an enormous accomplishment, creating a solid, sincere, and lasting relationship with your audience is the ultimate objective, and will prove to be ultimately priceless.