As a producer and recording engineer, my rates are very affordable for the quality of the end product (shoot me an email for a quote, or if you have any questions). However, we all know times can be tough and raising funds for your project is certainly an important part of the album release process.
A couple of fundraising options are definitely available:
1) Create and promote a Kickstarter campaign. Kickstsarter provides a very streamlined and intuitive way of creating an online fundraiser. Creating a campaign is quick, easy and free. You simply determine your fundraising target (how much do you want to raise? $500? $2,000?) and then promote the campaign to Facebook friends, Twitter followers, web site traffic, etc… Be sure to choose a realistic amount! Kickstarter only pays out if you surpass the threshold. So for example: if you are shooting for $2,000 and you only raise $1,100, all donors get their money back and you don’t earn anything. If you surpass the target, you will receive a payout (it’s basically the target, less a small percentage that Kickstarter requires for credit card processing, etc…).
Kickstarter is a great idea. However, to maximize the amount of money you receive, you need to provide a REASON for people to donate. I recommend perhaps creating “donation levels” as sort of a pre-order option for your upcoming project. Meaning, promote it like this: “Hey everyone, I’m in the studio working on a new CD! Pre-order the album now to get awesome stuff. For 10 bucks, you get the CD, for 20 bucks you get the CD and sponsor credit in the liner notes, for 30 bucks you get the CD, sponsor credit and a dedicated YouTube video where I play a song of your choice, etc…”. I did something similar and you can see it at http://www.mattadlermusic.com/preorder. It pulled in a LOT of money for me and helped me considerably in paying for my Rearranged album. I even had someone purchase at the highest donation level!
2) Record a single and release it IMMEDIATELY. It can be a digital release via iTunes and can serve as a sort of “teaser”. Plus, the more you promote the release of the single via FB, Twitter, your web site, other social networks and perhaps even paper ads/flyers/radio spots/etc…, the greater influx of cash you will have on hand for the full project.
Just some thoughts I had. I hope this was helpful!