Crowdfunding: A Natural Step In The Publishing Process
When crowdfunding was first introduced, the funding process attracted businesses and entrepreneurs hoping to verify marketability and raise the funding needed to bring their project to life. Now, this act of raising funds by collecting small financial donations from a large group of supporters is also a popular tool for authors. Authors already have access to publishing technology and now, with crowdfunding, the process of self-publishing is becoming even more accessible.
Authors, like any other entrepreneur, want to share their project with the world. A successful crowdfunding campaign helps an author begin the necessary promotional efforts before a book is published, helping to ensure a higher rate of success. Though crowdfunding is still somewhat new for authors, the benefits are invaluable. With that in mind, here are some of the advantages that will help authors get a head start in the publishing process.
- Gain the funds to publish. According to pbs.org, an editor can range from $45-$65 an hour based on their experience. The question is: how does the average self-publishing author take care of all of the costs that go into publishing their book? Here is where crowdfunding enters the equation. Crowdfunding is the tool that allows authors to raise funds for costs, such as editing, cover design, and marketing, before digging into their own pocket.
- Collect pre-orders. Authors have the ability to sell their books pre-publication. Crowdfunding is a reward-based system, which means that supporters receive something in return for their financial support. Most authors offer a copy of their book as a reward, essentially allowing them to collect pre-orders. Selling books before the publication date provides authors with a network of readers that they can stay in contact with and early customers that can share their thoughts of the book.
- Become aware of the targeted audience. Knowing and having access to a book’s audience is the key to success. Crowdfunding gives authors the ability to know the initial audience and fan base before they publish. Another advantage of a crowdfunding campaign that isn’t available through traditional retail marketplaces is the author’s ability to create and foster a personal connection with readers. Readers have the chance to get to know the author and why they wrote the book. The personalization of a crowdfunding campaign can help to attract readers and build the audience for a book.
- Market the book before publication. Though it can be difficult to market a book that has not yet been published, it’s very important to build a buzz around the book before publication. Crowdfunding is a great way to accomplish this. While authors are getting supporters to pledge to their campaign, they’re also marketing their book. Social media, word of mouth, and community outreach are all great ways to gain momentum and build a buzz around a book before it’s published.
Crowdfunding presents the unique opportunity for authors to raise funds for publication, collect pre-orders, know their audience and market their book before publication. This invaluable tool can help authors practice more informed and successful publishing and, most importantly, begin thinking critically about their book and treating their book like a business. For more information, check out www.pubslush.com!
