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09 February 2012 @ 10:28 am
On Running Crowdfunding: Rewards  

Picking up on yesterday’s crowdfunding commentary:

What sorts of rewards would be attractive?

Rewards are the hardest thing about crowdfunding, I think. (Except for the general nerve-wracking “I’m throwing a party and wonder if anybody will come!” aspect of it.)

Your basic reward for crowdfunded storytelling is the story. $5 gets you the e-book. There’s a real argument to be made for making it a base $10 buy-in because, as someone pointed out to me during the “No Dominion” campaign, if you’re pricing your book at what you’d buy an e-copy for on Amazon or B&N.com, you’re basically just setting up a pre-order system, not crowdfunding per se. But I like a $5 basic buy-in, because it’s a price point almost anybody can afford, and it gives the patron the specific item they presumably most want: the book!

General Reward Thoughts: I said a few days in to the “No Dominion” campaign that I’d already thought I needed to restructure the reward levels, and I still think I shoulda. I should have set it at $5, $10, $25, $50, $100, $250, $500 for the realistic rewards, and I think leaving the $1K, $2500 and $5K for “anybody got silly money?” rewards is fine. It probably should have looked something like this:

$5 : the novella
$10 : the novella & 2 short stories
$25 : novella, 4 short stories, name in acknowledgements (because holy crap, 520 backers, I’m gonna have four pages of thank-yous!)
$50 : the above & a bookmark featuring the NO DOMINION cover art
$100 : the above & a behind-the scenes chapbook of the NO DOMINION cover art photo shoot/9×12″ print of the cover art
$250 : the above & the limited edition print run of NO DOMINION included
$500 : the above & and your name as one of the characters in either NO DOMINION or one of the companion short stories

(Comments & suggestions on this are enormously welcome, btw.)

For other peoples’ reward ideas: Laura Anne Gilman’s “From Whence You Came” campaign page; Tim Pratt’s GRIM TIDES campaign page, and Chrysoula Tzavelas’s MATCHBOX GIRLS campaign page (which is still running, & she’s less than $100 from reaching 10x her original goal! Go make it happen! :)). There are others that I can’t think of right now, but I will happily link to them in the next post if people want to point me at them in comments.

Best Reward Idea: For the “No Dominion” campaign, it’s clear that the extra short stories were the best reward idea offered up. That makes sense: I’m a writer, the people supporting this are my readers, so of course they’d like extra stories. I write fast, so a short story is a reasonably time-effective reward to offer.

Worst Reward Idea: My worst reward idea, hands down, was the Unique Kickstarter-Patrons-Only Calendars. For two reasons, as it turned out. First–or the one I discovered first, anyway–is that it didn’t appear to be an exciting rollover point for people. Short stories garnered faaaaar more enthusiasm. So that’s important to know.

Second, though, and actually far more relevant than the popularity angle is the cost-ineffectiveness. I knew standard 11×17″ calendars would be too expensive, even if I was ordering a couple hundred of them, but it turned out (and I didn’t look this up beforehand, bad me) that 7×11″ calendars aren’t noticeably cheaper than the big ones. So I have learned to, for pity’s sake, do all the due diligence for cost effectiveness ahead of time next time, and, er, if I’m going to do calendars again, make them a high-end buy in bonus, like the handful of them that went to patrons who bought in at $250+, rather than an “everybody who buys in at $30 or more gets one”.

While calendars are probably not something everybody’s likely to try to put together, the principle stands: if it’s something that has a high cost point, only include it at the high end of the buy-ins. Learn from me on this one.

A Mistake I Made: When I went into the “No Dominion” campaign I only intended to write 1 extra short story. This made the higher end rollover points of “if we break $15K I’ll write another novella!” seem pretty reasonable. But then during hte course of the campaign I became overwhelmed with excitement and ended up throwing freebies and things out, with a total of I think 5 short stories and 3 chapters of a book I haven’t written.

You can see how this starts becoming not-cost-effective. The *smart* thing to do would have been say “And at $15K we will have something REALLY NIFTY! But you have to get us there, or almost there, before I’ll tell you what it is!”

As it happens, I’ve ended up with 3 novellas*, 5 short stories, & 3 chapters of a book I haven’t written to serve up. Subtract $2K for Amazon fees, $5K for limited edition print run fees, and $1K for calendars (and hoping to God that shipping will come out of that $8K), well, that leaves me with about $12.5K, which isn’t a *bad* rate for 3 novellas, 5 short stories & 3 chapters of a book that doesn’t exist, but it’s not a *great* rate either. So in case of success beyond wildest dreams, make certain to have your rewards set up at a level that is not, you know. Insane.

*Although I did say if it broke $30K and earned the book that doesn’t exist, that there would either be a total of 3 novellas, or one novella and one novel, because I was not proposing to write 3 novellas and a novel. And now “No Dominion” has lurched into novel-length territory and I’m not sure if I’ve covered my ass there or not, really…

(x-posted from the essential kit)

 
 
 
Geek of Weird Shit: weldinggows on February 9th, 2012 02:03 pm (UTC)
Re: CYA, I think so, for the very reasons you've mentioned. People bought in for a novella, not a novel. It's perfectly reasonable for you to write one novel in place of two novellas, and you did state those parameters early on.

Including behind-the-scenes insight to your progress is a bonus I don't remember you offering, but is a nice touch, especially for a) fans, and b) People Who Want To Be Writers.
Bryantbryant on February 9th, 2012 02:10 pm (UTC)
I agree on both counts. The progress blogging is brilliant.
kitmizkit on February 10th, 2012 01:42 pm (UTC)
...so should the blogging go in a reward tier itself, next time?
Bryantbryant on February 10th, 2012 10:07 pm (UTC)
I don't know that people would pay extra for it, but it's a good way to make people feel connected to the project. Also it's a good way to get people used to reading your updates.
kitmizkit on February 13th, 2012 08:14 am (UTC)
Ok. Cool. :)
Rachie: plottingrachie203 on February 10th, 2012 12:27 pm (UTC)
Agreed. I think the intent of one novel equals two novellas was clear. I don't think the actuality of WHICH story ended up the novel should matter.

On a side note, I am going to be whoa-sad if the rest of Heaven Can Wait doesn't get written at some point. I'm prepared to put my money where my mouth is on that one.
kitmizkit on February 10th, 2012 01:49 pm (UTC)
I suspect there is a non-zero chance you may get the opportunity to put your money where your mouth is, WRT HEAVEN CAN WAIT. :)
Andrea Blytheblythe025 on February 9th, 2012 06:19 pm (UTC)
Figuring out rewards is crazy hard. Knowing your time and how much original content you can reasonably create is hard to figure out. Time is money, as they say, and sometimes you can't quite tell what it would take to create a piece (a novella turning into a novel, for example).

I keep planning to do a poetry chapbook kickstarter, but have been holding off, as I know all my attention would have to be focused on poetry during that period and my time has already been too spread out between my other short story and novel projects.
Amberleyamberley on February 10th, 2012 09:05 am (UTC)
Crowdrewarding
What's the problem with 4 pages of Thank yous in an ebook? 4 or 40, its just a few more bits. Thank yous to everyone is gracious.

Just getting a bookmark for the 25 -> 50 jump doesn't seem very enticing. And not getting a physical book until 250 seems harsh, although it being limited edition (presumably signed and numbered) is OK. But if possible offering a book at 100 (or even 50) would be nice. Fulfillment could be a problem, especially if you try to ship them across the ocean instead of having someone do it in the US for your US fans.

Agreed that pricy time-consuming rewards (like custom calendars) are better left for higher levels, or left off entirely. I'm pretty sure your fans would much rather you spend time writing more than stuffing envelopes.

If No Dominion is still a novel after editing it seems fair to provide a novel and a novella as you claimed you would, and not 3 novellas. I'm not sure what you should do when the second novella turns into a novel also, but I suppose your fans would not be amiss at getting two (short) novels instead of three (long) novellas.

Depending on where most of your backers live, you might seriously consider printing the book in the US and having a fulfullment house (I can suggest one) do the mailing, rather than mailing everything transatlantic. But if your backers are spread evenly across continents, or there are only a handful of physical books, that's probably not needed.

Given your fans, should your next Kickstarter just be "Give as much as you like, and I'll divide that by my preferred word rate and give you that many words of stories?" I have a wierd dutch auction idea for that which this screen is thankfully too small to go into.

But as you're stuffing your envelopes of bookmarks, perhaps be glad you're not the fulfillment house for Order of the Stick.
kitmizkit on February 10th, 2012 01:46 pm (UTC)
Re: Crowdrewarding
No Dominion is likely to be a *longer* novel, not a shorter novella, after editing. My books almost always grow in the editing process.

Most backers are in the US, but the limited edition is supposed to be signed, you see, which means either shipping books to me or me to books, and either way I don't think I made enough to do that trans-Atlantic. :)

$100 is a bearable price point to offer the limited edition at, really, but at $20 or $25 a pop, $50 is not a cost-effective place to put it.
kitmizkit on February 15th, 2012 01:09 pm (UTC)
Re: Crowdrewarding
Also, holy carp, Order of the Stick. Jeebus.