Although modern crowdfunding has been around for over a decade, currently there are many platforms to choose from… including:
Why? Because crowdfunding does two (2) things.
- raises money to publish your book
- increases your visibility to sell your book
How? By providing:
- money to publish your book
- your own custom book web-page for launching campaign
- a dollar amount target displayed, sometimes with time limits
- through words, images, and pitch videos
But there are 3 secret keys to being successful in Crowdfunding.
- Effectively Promotion (frequency)
- Overcoming the Bandwagon Psychology
- An Awesome Professional Book Cover Design Image
1) Effective Promotion with Frequency is a marketing concept that says your funders will need to hear the promotion at least seven (7) times (frequency) before they buy-in to the value and sign up by opening up their wallets to pre-order your book.
The answer is this…
Send your promotion out as a 7-part narrative, over 7 separates mailouts/emails/transmission/etc. Dividing up the promotion into a tagline, a video, a book cover, a special benefit/reward, a launch reminder, a funding and reminder.
This solves the problems most of the time.
2) Overcoming the Bandwagon psychology is based on the Bandwagon effect, which is the fear of being associated with a “loser”. This fear is a stronger emotion than a personal liking to the book itself, which is why the book must be subconsciously be seen as a “winner” in the eyes of the beholder. How do you do that?
The answer is this…
Making sure your public never sees your campaign until it is already 40% funded, because 96% of campaigns with over 40% funding are successful.
how?... by launching a private VIP party-launch with your friends, relatives and associates a day or two before your public launch that will clear at least 40% of the monetary goal.
3) An Awesome Professional Book Cover Design Image is so, so, so important, pivotal, and influential is because PEOPLE JUDGE THE BOOK BY ITS COVER
The answer is this…
Make sure your cover design is professional, catchy, and attractive. Because your cover becomes the “Brand” of the funding campaign.
how?... by getting a professional book designer. Check out additional websites: book cover designs, how self-publishing authors can do it best, 6 tips for briefing your book designer.
Picking Your Crowdfunding Platform (Venue)?
There are many platforms to pick from.
- Kickstarter is the biggest brand name in Crowdfunding. However, it is rigid and has some harsh rules. i,e., if you don’t reach your target funding by your target date… you receive nothing.
- Indiego is the second largest brand name, and it offers the flexibility option, so that even if you don’t hit your target funding by the deadline you can extend the deadline, one-time.
- Publishizer is the next popular venue, offering additional services. and there are others GoFundMe, InkShares, etc.
None of the platforms charge up-from fees.
Many have suggested you should buy a book from the platform/venue you like best in order to have experience what your reader’s will experience if you use that platform (sounds like a good idea)
Calculating Your $ Target Needs & Picking Your Launch Date
Remember… it’s important to get the 40% of funding up-front, so, with that in mind, set your target budget needs as low as possible to ensure you can overcome the bandwagon effect. In other words, if you expect to raise $2,000 at your VIP private party pre-launch with your friends, fans and associates, then you are justified in setting your target fund amount at $5,000. Because your 40% funding would be reached up front before the public would even see your offer.
Obviously, this means your followers, friends and fans are crucial in any crowdfunding campaign, and should be given special perks, and special attention.
Also, the handful of people who back your campaign should be given some perks, i.e., special treatment, privileges. This handful of influential people is your crowd/reader/base upon which to build… by developing a stronger relationship.
When your campaign hits 100% funding – it’s a winner – that’s news! So, use every available communication method to spread the word. Newspaper, radio, podcast, blogs, influential authors, friends, etc.
Try to remember – Crowdfunding is not about asking for money. Crowdfunding is all about selling your book! Crowdfunding is all about creating interest & HYPE! Crowdfunding is a way to bring your fans together, to add value to your authorship and to strengthen your readers listing.
Special Details You Need to Know About Crowdfunding
- Campaign without a video fail 72%.
- Campaigns with face on it are 100 times more effective than those without faces on it. So, put your face on it!
- Match your design cover look throughout your campaign. It becomes your branding identity. It’s super important.
- Your tagline is the hook, make it short, articulate & powerful.
- Offer perks and rewards, i.e., $5 off book, $25 signed book, etc.,
The Crowdfunding timeline takes approximately 3 months to complete. So, don’t be hasty or in a hurry.
- Organize your contact information/reader listing
- Commission a professional cover design
- Write a professional tagline, short & articulate
- Include faces, images & tweet-length copy
- Identify your VIP’s, benefactors, soft-launch backers
- Pick your platform, and buy a book there first
- Calculate a funding target $
- Pick a launch date
- Make the video, draft the campaign, with perks
- Remember your strategic frequency strategy
- Put faces on the cover, even your face … & other images
- Shoot the video in under 60 seconds
- Add rights-free music, giving it a feel of “fun”
- Ensure good sound quality of video
- Finalize your campaign
- Then send a draft of your campaign out to others to proof
- Begin your campaign by launching your VIP even to get 40%
- Then start your public launch
- Reach your target… Publicize your success
- Thank your backers/readers/and give out perks/rewards
If you have a story to tell, let GetPublished help you tell it!
GetPublished is an emerging powerhouse in book publishing. We’ve joined the two worlds of traditional and self-publishing into one company that can help do it all. Our capabilities and relationships allow us to create targeted and integrated book campaigns that mobilize high-profile contacts in your niche, capitalize on word-of-mouth marketing through social marketers, and extend your reach into the most prominent media publications. Our authors have the unparalleled service of an Executive Editor, one who will work with you in putting your story ideas into book form. Once that’s completed, our professional designers will work with you to design the cover and interior to make your book ready to sell.
GetPublished markets your book by distributing to every major book seller on three continents.
About Michael Stickler
To set up an appointment to speak to a Literary Agent:
Email: Alfredo Baguio
Call: (702) 605-4354