Crowdfunding Preparation: 7 Tips for a Successful Campaign

“Crowdfunding makes people who believe in your work, your partners and collaborators.” – Cynthia Gayton, Esq.

Having unlocked the essentials of understanding crowdfunding and settled on the ideal platform for your project in our previous guide—it’s time to move forward. In this guide, the second in our series, we dive into the critical phase of crowdfunding preparation before launching your crowdfunding campaign. For a new author, careful preparation is the backbone of a successful campaign. It sets the stage for an impactful launch and drives momentum throughout your campaign.

 

Pre-Launch Phase

In the pre-launch phase, your primary aim is to lay a robust foundation for your campaign, ensuring you have everything you need to take immediate action when your campaign goes live.

 

Build Your Author Platform

Before you can begin crowdfunding, it’s crucial to have an established author platform as part of your author brand:

• Website: Your author’s website is your home base, where people can learn more about you, your books, and your campaign. It’s also an ideal place to collect email addresses for your newsletter.
• Social Media: Social media platforms like Facebook, Twitter, and Instagram can help you connect with your audience on a more personal level. Regular updates, teasers, and engagement can help create buzz for your campaign.
• Email List: Your email list is a direct line to your supporters. Start collecting emails early, so you have a ready audience when you launch the campaign for your writing project.

 

Develop Your Project Idea

At the heart of your crowdfunding campaign is your book. It’s essential to do the following:

• Refine Your Concept: Make sure you have a clear, compelling concept for your writing project. This will be the centerpiece of your campaign.
• Draft a Synopsis or Outline: This helps potential backers understand what your book is about and why they should be excited.
• Identify Your Unique Selling Proposition (USP): What makes your book unique? Your USP will differentiate your book from others in the market and pique the interest of potential backers.

 

Ever tried to make a soufflé without a recipe? That was Alex, attempting his first crowdfunding campaign. He charged forward with unbridled enthusiasm but no clear plan. The result? His campaign flopped faster than a deflated soufflé! Fortunately, his bruised ego healed quickly, and the experience taught him a valuable lesson: a well-prepared campaign is a recipe for success.

 

Establish Your Budget & Funding Goal

Deciding how much money to ask for involves:

• Calculating Costs: Make a detailed budget for your project. Include everything from publishing costs (editing, design, printing) to rewards fulfillment and platform fees.
• Setting a Realistic Goal: Your funding goal should cover all your costs but be achievable based on your audience size and reach.

 

Build a Pre-Launch Audience

In the lead-up to your campaign launch:

• Engage Your Network: Share updates about your upcoming project with your network to build anticipation.
• Collect Emails: Aim to build an email list of people interested in your project. They will be your first backers when the campaign launches.

 

Creating Your Crowdfunding Campaign

With a solid foundation laid, it’s time to put together your crowdfunding campaign.

 

Craft Your Campaign Description

Your campaign description should be engaging, informative, and persuasive:

• Tell Your Story: Share why you’re passionate about this project and why you need their support.
• Detail Your Book: Give a clear, compelling description of your book. What will readers gain from it?
• Describe How Funds Will Be Used: Be transparent about how the funds raised will be used. This builds trust with your backers.

 

Set Reward Tiers

Rewards entice people to back your project. When setting your reward tiers:

• Offer Value: Ensure each reward tier provides value to the backer.
• Consider Costs: Remember to factor in the costs of producing and delivering each reward.
• Get Creative: While copies of your book are standard rewards, think creatively to offer unique experiences or items that align with your book’s theme or content.

 

Share Your Campaign Story

A compelling campaign story can connect with potential backers on an emotional level:

• Share Your Journey: People love to support a journey, not just a product. Share your journey as an author and the writing journey from idea to the book’s publication.
• Use Media: Including images, video, and graphics can bring your story to life and make your campaign more engaging.

 

Conclusion: The Importance of Crowdfunding Preparation

A thorough and thoughtful preparation phase can set the stage for a successful crowdfunding campaign. By taking the time to build your platform, develop your project idea, establish a realistic budget, and create an engaging campaign, you’re well-positioned to hit your funding goal.

 

Stay tuned for our next guide, where we’ll dive into how to effectively run and promote your crowdfunding campaign. Until then, use these insights to start shaping your pre-launch strategy. Remember, every great journey begins with solid preparation, and your crowdfunding journey is no different. Get ready to turn that book dream into reality.

You can find the first guide in the crowdfunding series here: Understanding Crowdfunding and Choosing the Best Platform.

We hope you’ve found the preparation strategies useful and motivating. We hope they’ll equip you with the insights and tools needed to help you succeed as a new author. Writing is a journey of continuous learning and improvement. You don’t have to go it alone. We’re excited to continue the journey with you, providing guidance and encouragement every step of the way. Our goal is to provide basic insights and practical advice to help you navigate the writing world with increased confidence.

 Don’t wait. Start today!

 How can we help? To let us know, please fill out our contact form. Happy writing!

 

FAQs

1. How do I build an author platform if I’m just starting out?

Starting an author platform can seem daunting but focus on the basics. Create a professional-looking website that includes information about you and your book, a blog where you can share updates and connect with readers, and an email signup form. Social media is also important, so choose one or two platforms where you think your potential readers are most likely to be and start engaging there.

 

2. How can I determine a realistic funding goal for my campaign?

To set a realistic funding goal, first, estimate the total cost of your project. This should include all aspects of your book’s production (like editing, cover design, and printing), costs related to fulfilling rewards, marketing expenses, and the fees of the crowdfunding platform. Once you have a total, consider the size and reach of your network. The larger and more engaged your network, the higher you might be able to set your funding goal.

 

3. How do I create a compelling campaign story?

A compelling campaign story will share not just the details of your book but why it matters. What inspired you to write it? Why are you passionate about it? How will it benefit the reader? Including personal anecdotes, sharing your writing journey, and explaining why you need their help can make your campaign more relatable and compelling. Visual elements like a video or images can also help to bring your story to life.