What’s the best ‘crowd’ for ‘crowd-funding’?

Having done my deal with Unbound.com to publish my next book ‘Burning Secret‘ – a crime story set during the Cumbria foot and mouth disease crisis in 2001- there’s now a link unbound.com/books/burning-secret to the page where the project is explained, illustrated and presented in a video. Alongside all this information is a list of possible pledges that interested people can make, ranging from the simplest – the ebook of ‘Burning Secret’ – to the more elaborate, a customised tour of West Cumbria with the author (me) to find the key sites and settings of my novels. The project needs hundreds of these pledges, small and larger, to reach the target fund and get the book published.

2013-11-14-crowdfundingIt’s called ‘crowd-funding’ – a term only vaguely familiar to me before I started down this road. I wonder how it really works: do people actually pay money up front for something that may not appear for months, and if so what motivates them to do so?

Apparently Unbound are interested in this too, and the research they’ve commissioned seems to be saying that people like to feel part of the project: their willingness to join this ‘crowd’ is about being a member of a shared enterprise, an insider, a patron not just a reader.

I have to admit that as a pre-internet adult, growing up before ‘social media’ were even dreamt of, all this has been something of a mystery to me. More importantly, I guess it must be something of a mystery to many of my readers too. Book buyers of my generation expect the book to be finished and ready to buy before we pay our money for it. We might buy online, but this ‘pre-order and be part of the supporters’ club‘ notion may feel odd.

If that’s true, if the baby-boomer generation doesn’t ‘get’ crowd-funding, then I need to think again about finding those pledges. ‘You have to nag people,’ is the advice I get about this, but nagging goes against the grain. I feel I have a relationship with many of the people I’m asking for pledges, and that this relationship could be jeopardised by pushing them to behave in a way that feels unfamiliar. ‘Do this for me, please’ sounds whiney and manipulative.

Clearly I have some thinking to do, or perhaps I’m just reacting too quickly and the crowd-funding process just takes longer than I expected. In the meantime the necessary link  https://unbound.com/books/burning-secret is being widely shared, but the numbers of visits to the link far outweigh the number of actual pledges. Is this what happens?

Here’s the question, does the crowd ‘pond’ from which pledges are drawn need to be wide and shallow, or small and deep?  Maybe I should focus on getting a smaller number of high-level ‘donations’ and sponsorship, rather than chasing individual pre-orders. Any suggestions?