Crowdfunding Your Book: A Smart Funding Strategy for Modern Authors
Discover how crowdfunding empowers authors to finance and market their books without relying on loans. Explore top platforms, expert tips, and why it’s a game-changer for self-publishing.
In this article, Porsché Mysticque Steele—a renowned book coach and independent publishing expert—reveals how to bring books to life without bank loans or upfront financial strain.
The self-publishing industry today is insane! Always shifting, always updating. Every day there are new tools, information, and strategies. Thanks to this, crowdfunding has emerged as a powerful, practical alternative to traditional book financing.
Why Crowdfunding Works for Authors
Self-publishing is empowering, but it’s not cheap. A professionally produced book often requires an investment between $5,000–$10,000 to cover editing, design, printing, and marketing… and that’s on the low side. Not only that, whether you’re self-published or traditionally published, the reality remains: the author is still responsible for promotion and outreach.
This is where crowdfunding shines. It offers:
💰 Financial support from your future readers
✅ Validation that your book idea resonates
📣 Built-in marketing and early audience building
Now, if you’re saying to yourself, “Why not just cut costs by doing it myself?” remember this: self-publishing is NOT synonymous with DIY.
Say what you want, but readers can often tell when a book has been self-published, and that’s usually because the author decided to cut corners to save a buck.
If, however, your vision for your book is one that involves it sitting on the shelves of Barnes & Noble or Oprah Winfrey picking it up for her book club, that won’t happen if you choose to cheapen the quality of your book.
That’s why approximately 60% of your self-publishing budget should go toward production (with 50% of it going toward professional editing), but that can sound like a lot when you’re not rolling in dough.
So if you decide to invest in yourself to produce a book you can be proud of, tapping into strategies like crowdfunding can be a game-changer.
Crowdfunding allows you to turn your fans into investors and vice versa.
With a wide variety of platforms to choose from, you can easily set up a campaign, share how awesome the book is, and watch book lovers dive in.
The act itself drives engagement and curiosity, and that’s all you need to convert someone from a browser to a buyer.
Top Crowdfunding Platforms for Authors
Kickstarter – The go-to platform for creatives, it uses an all-or-nothing model, which means you only get the funds if you hit your goal. It also allows you to offer rewards like signed books or exclusive content to backers.
Indiegogo – Offers flexible funding, meaning you can keep what you raise even if you don’t meet your full goal. It’s great for authors who prefer less pressure and more flexibility.
Publishizer – A hybrid crowdfunding and agent-matching platform tailored specifically for authors. It not only funds your book but can attract traditional publishers based on pre-orders.
Patreon – Ideal for authors who want to release content gradually and get recurring monthly support. Think of it as a community hub where fans fund your journey in real-time.
Key Advice Before You Launch
I urge all authors to carefully read the fine print on each platform. Pay attention to:
Processing fees
Timeline for fund withdrawal
Tax implications
Terms of use and refund policies
Each platform comes with its own strengths and its own responsibilities, and if you aren’t careful, you may end up in a contract that doesn’t serve you or your book.
It’s also a good idea to collect all of your marketing materials before going live on the campaign. That’ll be things like your graphics, your teaser videos, your merch, your funnels, and automations. Ensuring that these items are ready to go will allow you to have a smooth process when you launch the campaign.
So be sure to do the work ahead of time and thank yourself later.
Final Word: Crowdfunding Isn’t Just About Money
It’s about validating your vision, growing your audience, and launching your book with confidence. For authors ready to bet on themselves, crowdfunding has the potential to be launchpad.
At MysticqueRose Publishing, we empower authors with the tools, guidance, and community to thrive in the self-publishing world. Crowdfunding might just be your first, and most impactful, step.
FAQs about Crowdfunding:
What is Crowdfunding?
At its core, crowdfunding involves a collective of people contributing money to a project because they believe in it, often in exchange for something in return. These contributors are known as backers, and they receive "perks" from the project creator. For authors, these perks can range from a t-shirt for a $10 contribution to a signed copy of the book for $20, or even an invitation to a book launch for a higher amount. The goal is to reach a set funding amount, such as $5,000, which is considered a great minimum for a successful self-published book.
Benefits of Crowdfunding for Authors:
Crowdfunding offers several significant advantages for authors:
• Financial Support:
It directly provides the necessary funds to cover publishing costs, including editors, formatters, and cover designers.
• Validation of Your Book Idea:
If people are willing to fund your project, it serves as strong validation that your book idea is compelling and has an audience, ultimately setting it up for success.
• Built-in Marketing and Audience Building:
The process of promoting your crowdfunding campaign inherently generates buzz and builds your audience. People who back your project become part of your "universe," potentially enrolling in programs or signing up for email lists. The platforms themselves can also expose your project to "angel investors" who actively seek out projects to fund.
Crowdfunding is particularly popular among self-published authors because it allows them to access "other people's money" without the stress of a loan or credit line, moving away from traditional bank systems towards a more decentralized economy.
Popular Crowdfunding Platforms:
Several platforms are commonly used by authors for crowdfunding:
• Kickstarter:
◦ Referred to as the "granddaddy of crowdfunding," it started in 2009 and focuses on project-based ideas, distinguishing itself from charity-focused platforms like GoFundMe .
◦ It operates on an "all-or-nothing" funding model: if the campaign reaches its set goal (e.g., $5,000), the creator receives the funds; if not, the money is returned to the backers. This model incentivizes creators to push harder and assures backers their money is only charged for successful projects.
◦ It uses a reward-based system, offering tangible items or experiences at different investment tiers.
◦ Kickstarter features a "projects we love" badge, which can lead to the platform promoting successful or promising campaigns to its over 30 million backers, including 8 million repeat backers.
◦ It has over 4,000 different project categories.
• Indiegogo:
◦ Very similar to Kickstarter, it also offers an "all-or-nothing" model but provides flexible funding options, allowing creators to keep all raised funds even if the goal isn't met.
◦ Indiegogo allows campaigns to continue raising funds even after the campaign ends or once the goal has been reached, which Kickstarter does not.
• Publishizer:
◦ This platform is specifically designed for authors, essentially functioning as "Kickstarter for authors".
◦ A key benefit is its ability to connect authors with traditional publishers and literary agents who actively seek new books and stories on the platform.
◦ However, it's not as popular as Kickstarter or Indiegogo, meaning authors need to work harder to drive traffic to their campaigns. Competition is also steep, particularly for non-fiction books like thought leadership, as the platform is often dominated by fiction genres.
• Patreon:
◦ Primarily known as a subscription-based model for recurring donations and community building, especially popular among podcasters.
◦ Authors can use it to fund their books by releasing chapters or episodes of their book to subscribers on a regular basis, allowing them to earn money to cover production costs.
◦ Patreon offers tiered membership levels with different perks.
◦ It's generally preferred over similar platforms like Kindle Vella due to lower royalty rates, meaning authors earn more. While more common for fiction, creative approaches can make it viable for non-fiction as well.
Crucial Advice:
Regardless of the platform chosen, authors are strongly advised to thoroughly review the terms and conditions, privacy policies, and general service agreements. This due diligence is critical to understand how money is withdrawn, any associated fees, waiting periods, and proof requirements related to the project, preventing potential issues