Interesting breakdown of Seth Godin’s Kickstarter — note that it’s therefore mainly carried by his big fans, in a limited edition kind of way. It’s how to publish niche successfully — it’s not necessarily a lesson for big publishers beyond that.
It’s no surprise that Seth Godin‘s Kickstarter effort announced yesterday morning to jump-start his new book THE ICARUS DECEPTION successfully drew his “tribe” of most loyal followers: in just over 24 hours the project has garnered pledges of nearly $200,000, with many rewards offers fully claimed. One interesting potential takeaway for other authors and publishers is that these early supporters are not driven by the lowest-priced offerings. His recommended “no-brainer” package was fully subscribed with 800 backers at $111 each (and 3 of the 4 higher-priced packages are also filled). That’s about the same number of backers who have now elected for the least expensive $4 digital preview only–with the former generating almost $89,000 and the latter accounting for only about $3,300 in sales. It would take over 22,000 cheap previews to equal the revenue from those higher-priced pledges.