A Novel Approach: Crowdfunding

A couple of weeks ago, we wrote a blog that provided four ideas to start your science fiction novel.

In this week’s blog, we want to expand on the topic of science fiction writing. But this time we won’t be talking about how to write such a novel, we will be focusing on how to fund a project of this sort through crowdfunding.

To begin, crowdfunding is simply the practice of funding a project by raising money. Typically, it refers to small amounts of money contributed by a large number of people that’s raised through the Internet. Once it’s collected, the money can be used to help the author publish their book and get it into their backers’ hands!

Some of the most common crowdfunding sites are Indiegogo and Kickstarter which help people start their campaigns.

Now, on to the big question: “How is crowdfunding beneficial for science fiction novels?”

Recently there has been some buzz around this topic, so we decided to fill you in on this up and coming trend. Take a look at just three of the benefits of crowdfunding!

Sales – Let’s say, for example, you have 150 backers for your novel on a crowdfunding website. This number translates to 150 virtually guaranteed up-front sales which can help an author gauge the demand for his or her book. By knowing in advance how many people are interested in your book, you’ll be able to make sure that you have enough copies to fulfill the orders.

Money – Money is the motive of crowdfunding, and it’s no surprise that it helps drive the success of a project. Popular crowdfunding sites like Kickstarter and Indiegogo work in different ways. For instance, funds are collected with Kickstarter once a campaign ends only if the project has met its goal. If the goal isn’t met, no money is collected. On the other hand, for Indiegogo, it’s a little different because pledges are collected as they come in throughout the campaign. So, whichever outlet you choose, know that crowdfunding can be great way to fund a project.

Awareness – Through social media, blogs, news sites and other public platforms, promoting your crowdfunding efforts can potentially generate overall public awareness of your forthcoming science fiction novel! As we have said in previous blogs, promotional efforts are an integral piece to the book publishing puzzle, and promoting your book before it’s ready to hit the market could give you a leg up on the competition as you’ll have a slate of early adopters anxiously awaiting the publication of your book.

At its core, crowdfunding can be seen as a support system of sorts. When an author puts his or her project on a crowdfunding site, people from all corners of the world can band together and provide monetary donations to show their support for a project.

Although this sounds like a surefire way to get your book in the hands of people far and wide, you cannot rely upon crowdfunding to make your publishing dreams come true.  Most crowdfunding appeals don’t make the money they seek or any money at all.   You should look at the rates of success for the sites you may use.

Generally speaking, crowdfunding works best for those with strong social media networks, an established presence in the public and a proven history as a credible author.

But don’t let the latter discourage you. Rather, use it as motivation and work to increase your visibility in the public through your social media sites, blogs, reviews and much more!

Lastly, crowdfunding isn’t just for science fiction novels, in fact, any genre can benefit from this process.

So, take a look at these points and determine if crowdfunding is the right option for you and your book!

Copyright Dorrance Publishing, 2014