Some thoughts on a new direction in crowdfunding

[shadows-gallery.livejournal.com]

After a hectic summer working in the breathtakingly beautiful California wilderness, living with no reliable internet, and then a lengthy hospital stay and major surgery, I have finally been getting myself back into the game artistically.  I have yet to dip back into the crowdfunding, though, and I'm afraid it has more to do with a lack of confidence than a lack of desire or need.  

I desperately need to raise prices, because I need the money--especially after the insane number of medical bills I have incurred and am still incurring--but I'm afraid I'm going to shoot myself in the foot by doing so.  I have tentative plans.  For one, I'm considering hosting weekly $5 Sketch Days, rather than Free Sketch Days as I've done previously, but taking the first five prompts for free.

 
Detailed black and white drawings will ordinarily go for $50 and up, depending on complexity, and Discounted Character Portrait Days will be re-instated on a periodic basis at $30 per portrait.  I'll also offer story illustration, both black and white and color, for $50 and up.

I have to remind myself that even these prices are very low for a professional, but I still have this nagging voice in the back of my head that tells me my work isn't good enough to charge that much, that no one will want to pay that much.  It's a voice that I'm determined to ignore.  

I hope to be delving back into the crowdfunding sometime this coming week.  I may test the waters with a $5 Sketch Day.



Does anyone have any suggestions on how to ease back into this after being away for so long?  Any suggestions for how to raise prices gracefully to a more financially sustainable amount?

Comments

[shadows-gallery.livejournal.com]

Thank you! It's good to be getting back in the game. Hope all's been well with you!

Thoughts

[ysabetwordsmith.livejournal.com]

>> I have yet to dip back into the crowdfunding, though, and I'm afraid it has more to do with a lack of confidence than a lack of desire or need. <<

Then it might help to start small and low-pressure. If that works, you can build up to something more complex.

>>I desperately need to raise prices<<

Be honest about your costs in time, material, and other factors. I recommend comparing what you make to an hourly rate. Also, read "The Three Micahs on Pricing (http://haikujaguar.livejournal.com/930924.html)."

You need to look for a balance between how much you need to charge, and how much your patrons are willing and able to pay. Right now the economy sucks, so a lot of people just don't have any money to spend. But some do. It helps if you can offer a range of items at different price levels.

>>For one, I'm considering hosting weekly $5 Sketch Days, rather than Free Sketch Days as I've done previously, but taking the first five prompts for free.<<

That sounds promising.

*ponder* If you don't mind a bit of bookkeeping, you might offer a free sketch to people who boost the signal for you -- 5 links gets a free sketch, or whatever.

>> I have to remind myself that even these prices are very low for a professional, but I still have this nagging voice in the back of my head that tells me my work isn't good enough to charge that much, that no one will want to pay that much. <<

Sometimes it's not about what your work is worth, but what you can get for it. That's especially true if you need to make something whether it's a fair price or not. I've never gotten market value for my editing work. I take what I can get -- and even then, some of my services are effectively priced out of the market based on the people I deal with. Poetry now, some of my epics are well above the professional rate. I've found people who love it to death and can afford it, but part of that is because I'm willing to sell a $150 poem at $.50/line, posting it as each verse gets funded.

>>Does anyone have any suggestions on how to ease back into this after being away for so long?<<

Try group projects; the Creative Jam is running this weekend (theme is "kink") and could use prompts or creators.

Also, leave prompts and read the comments in other people's projects. Sometimes you might get ideas, or at least just get used to the crowdfunding vibe again.

>> Any suggestions for how to raise prices gracefully to a more financially sustainable amount? <<

You might talk to your audience about how you set your prices. This is especially useful if, for instance, your material costs have gone up or you realized that you forgot to factor in a certain time expenditure. Don't whine or beg, though; that puts people off.

Re: Thoughts

[shadows-gallery.livejournal.com]

Thank you as always for a well-thought-out reply. :) You've given me some good ideas.

Re: Thoughts

[ysabetwordsmith.livejournal.com]

*bow, flourish* Happy to be of service. I try to collate information about crowdfunding and share it so more folks can make this business model work.