Self Publish or Crowdfunding?

Crowdfunding seems to be a relatively new phenomenon in the book world, but it has gained considerable momentum in a short space of time. In that short time, it's proven to have been a successful and profitable publishing option for established writers and debutants alike. Simply put, this is when an author or publisher raises money to publish a book. The traditional model is for a publisher to spend thousands of pounds on publishing your book, and then hope to sell enough copies to readers to get the money back.

The success rate stands at 32 %, with 13,610 publishing projects achieving their targets. Crowdfunding for books is becoming increasingly popular among authors, as well as those who want to publish on their own. Some of the biggest names have appeared on the crowdfunding scene, such as the illustrated children's book 'The Little Prince ', which has sold more than 1 million copies. A startup on one of our largest crowdfunding platforms even has its own crowdfunding campaign.

Crowdfunding can enable authors to sell more books and build an audience faster than they ever could. The combination of urgency and excitement that crowdfunding provides is what turns interested fans into paying customers. One of the hardest things to overcome when selling a book is people saying, "I'll buy it later".

Over the past decade, the ability to collect small amounts of money from a large number of people has become a useful resource for independent authors. Kickstarter, IndieGoGo and GoFundMe are among the increasingly popular sites that help authors raise money for their books. Each platform has its pros and cons, it is important for authors to get familiarized with each of them and select the one that works best for their genre. A valuable alternative is to seek professional support by hiring a crowdfunding consultant or agency and also reach out to other creators who have launched successfully similar campaigns and learn from them what worked and what didn't for their campaign.

Crowdfunding involves a lot of fundamental work that an author will have to do in order to publish successfully. Since the industry is constantly evolving and expanding, authors need to know how they can publish most successfully and efficiently. Publishers must explore all the options, of which there are many, and make the decision that best suits their publishing objectives.

I've seen the power of crowdfunding firsthand and have helped thousands of publishers and authors launch successful projects. I truly believe that the crowdfunding model will help literary folklorists create a buzz around their work and help build their authors 'platforms. Crowdfunding is a tool that writers should certainly test out.