You know, I think it might work, but it has to be part of some wider marketing plan.
Eddy Webb did a serial thing a few years ago (the Whitechapel project). Once a week he put up a scene of a story with a poll at the end for his readers to choose the direction of the next episode. The poll ended in a day and within a week, he had another episode ready for folks to read/vote on. He is a very good writer and he eventually ended up with a nice following for that project. But, sadly, he couldn't finish the project nor did he have anything else (in the way of products you could buy) for his readers.
But, he did gain quite a following with all those splendid episodes (he also did a podcast of 'em, which I wouldn't recommend, just way too much time involved). I think if you had a definite end in sight for the episodes (say three months worth of weekly episodes), AND more stuff for people to buy at the end of that story line, it could work.
Keep in mind, you'd have to have the main story (novel) complete and ready to launch at the end of your run of episodes.
Anyway, something to think about...



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