Self-publishing a book is expensive, but you don’t have to pay for it all out of pocket. There are plenty of funding options for soon-to-be-published authors, one of which is getting sponsorships.
To get a sponsor for your book from businesses or organizations, you can host a function or charity event, ask a relevant organization to sponsor you, or use an affiliate marketing system.
Read on to explore the purposes and benefits of sponsorships to fund a book, align your goals with that of a potential sponsor, and what you can offer a business or organization in return.
1. Host a Function or Charity Event
A great way to encourage sponsorships is to ask if sponsors can arrange charity events or functions that include book signings, giveaways, exclusive readings, and sneak-peek details.
You have a following and an influence over your audience that can benefit your sponsors. You can promise a part of the profits to a charity, dedicate a percentage to the sponsors themselves, or allow them to attach their names to your work through marketing, thus bringing awareness to both parties.
If they don’t want to fund an entire event specifically for you, they can also purchase your book in bulk and sell it at one of their events, which is a way to financially sponsor your book and garner more brand awareness.
When partnering with an organization, finding out what makes them tick is essential. Ask these questions:
- Do they want more money?
- Do they want access to a broader audience?
Determine their motivations, then figure out how you can use your product to help them achieve that in a way that also gives you what you want.
This could sound highly intimidating to someone who isn’t business-savvy or has newly entered the world of publishing. Luckily, Grammar Factory has helpful information on building professional partnerships to secure book funding.
2. Ask a Relevant Organization To Sponsor You
If you’re writing a book on a specific topic, consider seeking a partnership with organizations specializing in this field that would benefit from your book’s readership.
For instance, if you’re writing a study on local marine life, discuss sponsorships with your local aquatic research institute, aquarium, or marine conservation association. This way, you can gain community traction and reach the right audience.
This fits in very closely to hosting events because that’s one of the ways the organizations you partner with can help you.
Other ways include:
- Providing valuable research and professional advice.
- Providing financial assistance.
- Raising awareness for your writing.
They can do this in exchange for you spreading awareness on their behalf and perhaps a cut of the money raised at events. Remember, they almost always agree to give you something because they expect something in return, which is perfectly reasonable.
Why Common Ground Is Important in a Partnership
This differs from any other sponsorship because finding an area in common gives you a better chance of support. It’s abundantly clear how everyone involved can benefit, and if things go well, you can form an ongoing partnership.
Partnering with an organization that resonates with your goals is crucial. You’re more likely to secure a sponsorship if the sponsor feels you’re working towards the same purpose, creating a more harmonious partnership.
If your views or goals clash significantly, this might become a failed partnership because resources are being spread too thin across different avenues.
Figuring out an organization’s goals and views is as simple as asking them. Ask some questions to prep you for meeting a potential sponsor and what to ask a sponsor to see if they’re suitable for your cause.
3. Use an Affiliate Marketing System
Affiliate marketing is a commonly used method to promote websites, blogs, and online and offline shops.
A company approaches you and asks you to advertise on your website or blog, and for every website link clicked on your site, you get a certain amount of money. This system is most frequently implemented online, but the opportunities don’t end there.
Affiliate Marketing Online
This could be the perfect way to get sponsorships if you spearhead your book operations through online platforms like websites or social media accounts. However, the difference is that it’s much more common for a company to reach out to you, not vice-versa.
That said, if you can approach them and prove why advertising on your site or social media could benefit them, it won’t matter who contacted whom first.
A website with no readers will get no clicks, meaning no money for the sponsors. The same goes for real-world marketing. Building an audience from scratch isn’t something you can leave to chance, so you’ll want to learn how to build an audience for your writing.
If online affiliate marketing sounds right up your alley, look at Book Written’s guide to affiliate marketing for writers and bloggers.
Affiliate Marketing Outside the Digital Space
Although affiliate marketing is typically reserved for the online space, you can use the same principle in real life. Create a relationship in which they agree to purchase and distribute a certain number of books in exchange for a percentage of the earnings.
An enormous part of publishing and selling books is having a loyal audience and reader base, or even just a large group of people anticipating your book’s release, which might assure you that your book will actually sell when it gets released.
To successfully execute an affiliate marketing setup, you’ll need a big audience, or at least one big enough to make sponsors feel like they’re making a wise and profitable investment.
This relationship between brand and marketer focuses on minimizing hassle and maximizing profit, which is why it best suits an online experience. This doesn’t mean it’s limited to your website, as you’ll see in Oberlo’s detailed affiliate marketing guide.
These three methods are vital in attracting sponsorships and creating meaningful and productive partnerships. Finding the right sponsor and finding an organization that aligns with your goals can go a long way to finding success.
You must strike a balance between pursuing success as an author and giving value to your sponsor organization, creating a symbiotic relationship.