The Practice of Creativity

I’m thrilled that author and friend, Jessica Yinka Thomas has stopped by to share her recent, and super successful, crowdfunding experience for her forthcoming thriller, How Not to Make Friends, a sequel to How Not to Save the World. Crowdfunding is often an overlooked and underappreciated opportunity for authors to raise their profile, engage with an audience and raise money for their passion projects. I’m inspired by what Jessica has accomplished and excited to learn from her!

 Crowdfunding To Launch Your Next Novel

 “I will publish my second novel by the end of 2018.” That’s the goal I set for myself back in April of this year. I began thinking about the best way to raise funds to self-publish How Not to Make Friends and to publicize the book. After consulting with numerous friends, including fellow authors and entrepreneurs, I came to the conclusion that the two goals could be combined through a crowdfunding campaign. Running an effective crowdfunding campaign is a lot of work with many pitfalls along the way. But, I found it to be a very effective strategy to raise $8,000 in 30 days while strengthening my fan base.

My initial goal was $5,000, enough to break even, covering the costs of the campaign, professional editing, cover design and the initial print run. I was very fortunate to raise that goal several times over the course of the campaign. I think a huge part of my success was having an existing fan base and incredibly strong support network based on the success of my first novel. Knowing that I would be primarily speaking to existing fans and friends made it a lot easier to reach out and ask for support. If you’re considering putting together a crowdfunding campaign to launch your next book, here’s what I learned from the process.

Build your network

The platform that I used, iFundWomen, estimates that about 2% of your potential backers will actually make a contribution. When I combined my personal contacts who might be interested in the novel (500), the mailing list I built from publishing my first novel (800), personal social media contacts on Facebook, Instagram and LinkedIn (4300), social media contacts through my novel Facebook page (1000), I had about 6600 potential backers. The estimate of 132 backers was pretty accurate, particularly considering the overlap in the various contacts. Every last one of the 103 contributors to my campaign were friends, fans or friends of friends.

Don’t depend on the kindness of strangers. In my experience, very few, if any of your contributions are likely to come from strangers who are browsing the crowdfunding campaign platform that you select. Before getting started, make sure you’ve built a strong network of friends and fans on social media, through your blog or website and in your email distribution list. Give your network a heads up that you are planning to launch a campaign before it kicks off to begin to generate some excitement.

Select the right platform

Picking the right platform to launch your campaign is critical. Kickstarter is the largest crowdfunding network out there but it has an all or nothing model. If you don’t raise your goal amount in the time frame you’ve set, all the funds are returned to the contributors. Kickstarter charges a 5 percent fee on projects that reach their goal. Indiegogo, one of the larger platforms gives you the option of all or nothing model or a flexible goal. Keep in mind that if you reach your goal, Indiegogo takes a 4 percent cut; if you don’t, the fee jumps to 9 percent. Most sites charge a credit card processing fee that’s around 3 percent.

I decided to go with iFundWomen, a crowdfunding platform for women led startups and small businesses. iFundWomen provides a supportive platform with a rich set of free resources from expert coaching to in-depth campaign management tools. Not only can you make your goal flexible, but they have excellent customer service where you can change the closing date or even the goal amount of your campaign with a quick email. Every month the platform reinvests 20 percent of their standard fees back into live campaigns. I was fortunate to be one of a handful of campaigns to receive funding from the platform back in September. iFundWomen charges a 5 percent fee.

Pick engaging rewards

For a novel crowdfunding campaign, there is a pretty compelling reward, the actual book, once it’s published. I offered several different versions of my new novel at different price points: $10 for an EPUB version of the book, $25 for personalized autographed copies, and $50 for personalized autographed copies of my first and second novel. I was pleasantly surprised that the most popular reward was at the $100 level, an opportunity to be listed in the acknowledgement of the book along with autographed copies of both novels. I used the themes of friendship and international exploration from my novel, naming the reward levels after translations of the word “friend” in different languages represented in the novel.

One of the rewards was a book club bundle, 8 autographed copies for a $250. I was surprised that no one selected that reward, but later realized that it would be tough for a supporter to get their book club to agree to read the book during the brief campaign period.

The reward that I was most excited to try out was the opportunity to name a character in the novel. I was thrilled that 5 people select this option at the $500 level.

Market the heck out of your campaign

The crowdfunding campaign is your opportunity to tell your writing story. It’s an opportunity to share what motivates you to write and what you hope your readers take away from your novel as a way to engage and inspire your network. Once you’ve got your campaign in place, it’s helpful to send it out to a few close friends, both to get feedback and also to secure a few key initial donors. You want to demonstrate some initial momentum when you first share the campaign with your broader network.

After that, the challenge is finding creative ways to regularly reach out to your network via email, social media, text and yes, even phone calls, during the campaign period. iFundWomen has a comprehensive tool that is an end-to-end campaign planner from putting together your pitch, to mapping your network map, to laying out your campaign goals, to planning each week of the campaign. iFundWomen’s coaches playbook was essentially my business plan for the campaign.

Don’t’ discount the importance of the video as part of your campaign. I resisted putting together a video for several weeks, thinking it would be too much work and wondering who would watch it anyway. I spoke with several friends who had completed successful campaigns along with the coach from iFundWomen who stressed the importance of the video. Some people prefer to watch a brief 2 to 3 minute video, others will scroll through your campaign text. It doesn’t have to be complicated. I worked with a fantastic local videographer through Iron Worx Media, to pull together a series of photos capturing my writing journey, overlaid with an audio recording. I got some great feedback on the video during the campaign and now it lives on my author website.

Follow through

The campaign turned out to be a very effective commitment device. I had 103 people expecting to receive copies of my novel before the end of the year! The campaign also provided me with the funds to move forward with two rounds of professional editing to polish up my novel. I had the opportunity to work with The Book Smugglers on development editing and with Lystra Literary Services on content editing. I was able to work with the very talented Jen Rhoton on the cover design. And I’ve now published the novel on lulu.com, my favorite print-on-demand publishing company.

The result was a beautiful product I have now been able to share with all of my crowdfunding campaign supporters. Last weekend, I autographed almost 200 copies of my first and second novel, over a long weekend, in the middle of a snow storm. I’ve started to see posts on social media from delighted fans and friends who have now received their long-awaited rewards. I can’t wait to hear what they think!

Jessica Yinka Thomas

Like many superheroes Jessica Yinka Thomas leads a double life. By day, she teaches social innovation and sustainable business at the Poole College of Management at NC State University. By night, she is a social justice novelist, author of the How Not to Save the World series. Jessica’s writing highlights her twin passions for technological innovation and for creating significant social change through entrepreneurial ventures.

Jessica’s iFundWomen campaign: https://ifundwomen.com/projects/how-not-to-make-friends

Facebook: https://www.facebook.com/jessicayinkathomas/

Instagram: https://www.instagram.com/jyinkathomas/

Website: www.jessicayinkathomas.com