{"id":27032,"date":"2014-03-31T15:07:09","date_gmt":"2014-03-31T20:07:09","guid":{"rendered":"https:\/\/publicityhound.com\/?p=27032"},"modified":"2025-10-29T14:13:21","modified_gmt":"2025-10-29T14:13:21","slug":"develop-a-crowdfunding-marketing-plan-for-your-book","status":"publish","type":"post","link":"https:\/\/purelysupp.com\/publicity\/marketing\/content-creation\/develop-a-crowdfunding-marketing-plan-for-your-book\/","title":{"rendered":"Develop a crowdfunding marketing plan for your book"},"content":{"rendered":"
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By Justine Schofield<\/p>\n\n\n\n

Crowdfunding is a way to raise funds for any creative project or business venture from a large group of people, typically via the Internet.<\/span><\/p>\n\n\n\n

Reward-based crowdfunding is a system in which the project creator offers rewards at various support levels ($1, $10, $25, $100, etc.) in exchange for the supporter’s financial pledge to their project. The higher the dollar amount pledged, the more the supporter gets in return.<\/p>\n\n\n\n

The project creator also sets a funding goal that they must meet in order to receive the money they raise. On some crowdfunding sites, if they don’t meet the goal, then none of their supporters are charged and they don’t receive any of the funds.<\/p>\n\n\n\n

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More Than $5 Billion Raised<\/h3>\n\n\n\n

Crowdfunding raised $5.1 billion<\/strong> at the close of 2013, up from $2.66 billion<\/strong> in 2012 and $1.47 billion<\/strong> in 2011. In 2013, 74 million people worldwide participated in crowdfunding, and that number is expected to hit 362 million people in 2014. As you can see, crowdfunding is a fast-growing industry and will only continue to flourish.<\/p>\n\n\n\n

It’s becoming an increasingly popular way<\/a> for authors to mitigate the financial risk of self-publishing and gauge the initial market for their book. As we all know, publishing costs can add up quickly. If an author is choosing to self-publish, all the financial burden and risk falls on the author.<\/strong> Crowdfunding provides a way for authors who are publishing to raise funds that can help cover publishing costs before they have to dig into their own pockets.<\/p>\n\n\n\n

Also, the reward-based model provides a unique advantage to authors because they can offer their book as a reward, which allows them to collect pre-orders<\/strong> during the crowdfunding process.<\/p>\n\n\n\n

Crowdfunding is a tool for those who know how to successfully market themselves and their book. Finding success in the crowded book publishing market can be tough. Let’s take a look at what’s needed to be successful with crowdfunding.<\/p>\n\n\n\n

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It Takes Hard Work<\/h3>\n\n\n\n

The most important thing to know: It requires a lot of hard work, motivation and determination. Although it would be nice, it’s unrealistic to think people will flock to support your crowdfunding campaign. Unless you’re of Oprah-like status, the odds of being successful without putting in any effort are not in your favor. Conducting a successful campaign can be very time-consuming, but if you’re willing to put in the time and effort, it’s completely worth it.<\/strong><\/p>\n\n\n\n

Another thing many people don’t realize: a lot of work is required before you launch the campaign. Since crowdfunding campaigns are time sensitive (most last 30-60 days), developing a marketing plan is the first step to help you hit the ground running and keep up momentum throughout.<\/p>\n\n\n\n

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Key Points in a Marketing Plan<\/h3>\n\n\n\n

Your plan will serve as a starting point and keep you on track. Here’s a look at the basics of a successful marketing plan for crowdfunding:<\/p>\n\n\n\n