Why Use Crowdfunding for a Preorder Campaign?
Updated: Dec 8, 2022
Whether you are self-publishing or have your own independent publishing company, a preorder campaign is the best way to get folks excited about your upcoming book! Preorder campaigns are designed to introduce your book to the market, share release information, and especially to gauge the demand for the book. Plus, preorder sales count as first day sales for your book on its official release date! Let’s dive into what this all means.
If you’re like me, I want to know what to expect for the future. This is true in my personal life and business. So as a publisher, I want to gauge the picture book market to know what the interest is in the book before its release. The print quantity, merchandising, and author event scheduling can all be planned in accordance with a preorder campaign.
Preorder campaigns are not new. Publishers often run a preorder campaign for new releases. The difference is how they are run. For instance, new tools such as crowdfunding platforms are a wonderful way for the self-published or even independent presses to run a campaign. Through advertising on social media and the like, people can see what your book is about, buy in for bonus add-ons, and follow the journey collaboratively.
A distinct reason to use crowdfunding platform is that advertising costs are high for any business, but especially for small businesses. If you are starting out as a small press or even self-publishing, funds are spread thin. Crowdfunding allows you to have readers preorder a book but with additional benefits. They can see what the book will be about, what it takes to produce it, and feel a sense of community support in helping the production come to fruition. You are not asking for donations— you’re promoting a new product.
When people order, there are usually tiers that they can choose to support the campaign. Bookmarks, sticker sheets, dedications, posters, and other fun add-ons allow people to get more for their preorder purchase. Exclusive deals for the first few days allow the early birds to get even more for their early support. The funding goals are spelled-out in the campaign page, so people know what their money goes toward.
With Kickstarter, if the set goal is not reached by the end date, no money is collected, and the campaign fails. Other crowdfunding platforms do not necessarily work this way, but it is important to note.
These are the most basic reasons why so many people use crowdfunding such as Kickstarter to run their preorder campaign. The visibility and structure of the platform allows a place to organize, promote, and market your upcoming release. Using a crowdfunding platform built for innovative ideas and products helps your business evaluate the marketability of your forthcoming book.
Remember to check back to the Bookling Media Blog for future posts digging deeper into crowdfunding and what it means.