Should You Crowdfund To Self-Publish A Book?

Crowdfunding seems to be the latest way for people to finance their projects. As a writer interested in self-publishing a book, you might be wondering if crowdfunding is the answer to your budget concerns. Crowdfunding may seem like a good way to get fans and readers to support and directly fund your book while it’s being created, rather than simply purchasing a copy after publication. But does it always work? And should you crowdfund to self-publish a book?

Crowdfunding: Should You Crowdfund To Self-Publish Your Book?

Crowdfunding involves raising money for your book project by collecting donations from your family, friends, readers, fan base, and even strangers. Usually, anyone who contributes will get a special reward from you, which could be a copy of the published book; an autographed book; a discount on the price of the book; exclusive behind-the-scenes insights; a gift that relates to your book’s genre, etc. For writers, a successful campaign could mean that some — or all — of the cost of hiring a professional proofreader, editor, or cover designer doesn’t have to come out of your own pocket.

Some platforms will take a percentage of the funds you raise, but they all allow you to retain 100% ownership of your project. You will, however, have a responsibility to use the money you raise appropriately and come through on delivering your promised product. Find out more about crowdfunding here.

What To Consider Before You Crowdfund

Running a successful crowdfunding campaign will take time and effort — you won’t simply set up a crowdfunding page and then sit back and watch the money pouring in. You are essentially pre-selling your book to readers, which means actively marketing and building a fan base before your book is available for purchase.

You must also have a manuscript with a story, characters, or idea that will get readers excited enough to open up their wallets before the book exists. And depending on what pre-self-publishing step you’re at, it might be a long wait for anyone who donates. Offering promotional giveaways or promising to keep patrons up-to-date with an inside view of the process are great ways to build and sustain interest in your…