Journal articles: 'Crowdfunding marketing'

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Ohira, Shuji, Sumire Stanislawski, Yuichiro Hidaka, and Kosuke Mizukoshi. "Hometown Tax as Crowdfunding:." Japan Marketing Journal 40, no. 3 (January 7, 2021): 19–30. http://dx.doi.org/10.7222/marketing.2021.004.

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Konhäusner, Peter, Bing Shang, and Dan-Cristian Dabija. "Application of the 4Es in Online Crowdfunding Platforms: A Comparative Perspective of Germany and China." Journal of Risk and Financial Management 14, no. 2 (January 25, 2021): 49. http://dx.doi.org/10.3390/jrfm14020049.

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As a dynamic way to raise funds for professional and private projects in recent years, crowdfunding has made tremendous progress, especially through online platforms. However, research on this subject is still young, leaving room for different perspectives. We therefore approach the marketing mix adaptability of online crowdfunding platforms and its impact on campaign efficiency and company strategy in two major economies: Germany and China. With the help of case examples based on secondary data, we performed an in-depth analysis of the 4E marketing mix benefits on crowdfunding, highlighting best practice approaches. We critically discuss the 4Es marketing mix approach, focusing on experience, value exchange, and marketing scales, and clarify the compatibility between crowdfunding and 4Es to better understand how these theories are applied to crowdfunding activities. As a result, the suitability of the 4E marketing mix adapted to crowdfunding needs is shown. From a market-oriented perspective, managers of crowdfunding platforms, as well as project owners from Germany and China, will be better able to attract their target audience by applying the 4E adaptation provided.

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Hendratmi, Achsania, Muhamad Nafik Hadi Ryandono, and Puji Sucia Sukmaningrum. "Developing Islamic crowdfunding website platform for startup companies in Indonesia." Journal of Islamic Marketing 11, no. 5 (July 18, 2019): 1041–53. http://dx.doi.org/10.1108/jima-02-2019-0022.

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Purpose This study aims to develop an Islamic crowdfunding model based on a website platform for startup companies. Design/methodology/approach Apart from reviewing related literature, specifically focus group discussion with 16 CEO of startup companies, in-depth interview with two crowdfunding provider, Fiqh expert and technology platform expert for the development of an Islamic crowdfunding website platform for startup companies. Findings The concept of Islamic crowdfunding is recommended as a funding solution for small and medium-sized enterprises and startup companies. Therefore, it was deemed crucial for this study to develop an Islamic crowdfunding model based on a website platform as a form of innovative acceleration to provide alternative funding for a startup company, which subsequently expands to a growing and sustainable business. Furthermore, the use of a website platform for the operation of a crowdfunding mechanism is deemed as an effective means to link cross-geographical investors with the startup company owners in Indonesia, specifically East Java. Practical implications Islamic crowdfunding website platform can be the solution for startup companies to obtain capital funds while startup companies are not able to provide collateral to attain financial assistance and experience problems. Expectedly, the government should provide legality, regulation, licensing and socialization matters pertaining to crowdfunding to obtain legal legality from the country. Originality/value There is still no research to develop the Islamic crowdfunding model using a website platform. This study was expected to provide essential insights on the effective development of an Islamic crowdfunding website platform integrated with startup companies, investors and Sharia committee.

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Ishida, Daisuke, Susumu Ohira, and Naoto Onzo. "Critical Success Factors in Reward-Based Crowdfunding:." Japan Marketing Journal 40, no. 3 (January 7, 2021): 6–18. http://dx.doi.org/10.7222/marketing.2021.003.

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P., Theerthaana, and Hansa Lysander Manohar. "How a doer persuade a donor? Investigating the moderating effects of behavioral biases in donor acceptance of donation crowdfunding." Journal of Research in Interactive Marketing 15, no. 2 (May 11, 2021): 243–66. http://dx.doi.org/10.1108/jrim-06-2019-0097.

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Purpose The concept of donation crowdfunding has been drawing enormous attention as it connects donors worldwide in a shorter time at a relatively lower cost. This paper aims to integrate two unified theories, namely, behavioral finance and unified theory of acceptance and use of technology model, to investigate on the motivators and deterrents that influence prospective donors to adopt and use donation crowdfunding. The study also substantiates the significance of donors’ behavioral biases through the moderating effect in the crowdfunding adoption process. Design/methodology/approach The study used survey method for data collection and the data set was obtained from the sample of respondents belonging to India and Bangladesh. The proposed structural equation modeling is tested using SPSS 23.0 and AMOS 23.0. Findings The study reveals that performance expectancy, effort expectancy, facilitating conditions and trust significantly enhance the intention to adopt donation crowdfunding. Also, biases including overconfidence bias, herding bias and regret aversion bias are found to have significant moderating effects on the relationship between the behavioral intention to adopt donation crowdfunding and use behavior. Practical implications By investigating motivators and deterrents of the adoption of donation crowdfunding, the study renders lucrative insights for the donation crowdfunders in devising a donation fundraising campaign that motivates the prospective donors to provide financial contribution. Originality/value The study establishes its novelty in explaining the adoption behavior of donation crowdfunding with behavioral bias moderators as a theoretical paradigm. Furthermore, the unified theory of acceptance and use of technology model is extended by introducing, the variable “trust,” while studying the adoption behavior of donation crowdfunding.

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Ahsan, Mujtaba, Erlinde F. I. Cornelis, and Andrew Baker. "Understanding backers’ interactions with crowdfunding campaigns." Journal of Research in Marketing and Entrepreneurship 20, no. 2 (October 15, 2018): 252–72. http://dx.doi.org/10.1108/jrme-12-2016-0053.

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Purpose Crowdfunding has become a popular method to acquire capital for entrepreneurial ventures. To successfully achieve funding goals, it is critical for crowdfunding campaigns to attain support of individuals (backers). This paper aims to presents a conceptual model that links a reward-based crowdfunding campaign’s product, pitch and promoter characteristics to expert and casual backers’ evaluation and behavior. Design/methodology/approach This paper draws from literature from consumer behavior, network, signaling and informational social influence theories to design a conceptual framework that highlights factors that influence potential backers’ participation in crowdfunding campaigns. Findings It is demonstrated that the conceptual framework presented in the manuscript usefully organizes the real-world tactical marketing decisions of a crowdfunding backer while also being readily amendable to integrating theoretical accounts of human behavior from a diverse body of social science literature. Empirically testable propositions are derived from this social science literature and recast into a manner that could be investigated in the crowdfunding context to expand the body of knowledge on this topic. Practical implications This manuscript provides a framework that can be useful to crowdfunders who wish to strategically plan how their marketing communication plan features may be tailored to attract both early- and late-stage crowdfunding backers. Originality/value This paper is novel in the crowdfunding literature because it integrates a diverse body of literature to explicitly identify how the strategic and tactical marketing communication characteristics of a crowdfunding campaign are likely to differently influence different types of potential crowdfunding backers.

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Quero, María José, and Rafael Ventura. "Value proposition as a framework for value cocreation in crowdfunding ecosystems." Marketing Theory 19, no. 1 (April 26, 2018): 47–63. http://dx.doi.org/10.1177/1470593118772213.

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The aim of this article is to explore whether the ecosystem approach is required to understand the new service model of crowdfunding. The value proposition approach offers different interpretations for each of the eight levels of value co-creation as seen in the service ecosystem. A qualitative multiple case-study approach is used to analyze the two most representative crowdfunding platforms in Spain, Verkami and Lánzanos, in terms of the amounts of funds provided. This article offers an analysis of specific cases of crowdfunding in the arts and cultural sector through the biggest platforms in Spain. The sampling design could be improved by including the experiences of crowdfunding projects in other countries in the analysis. The findings could assist service managers and practitioners to improve planning of value cocreation through the value propositions approach, with a variety of actors within the service ecosystem. This article is a contribution to the development of service-dominant (SD) logic in relation to FP 7 and FP 10. Managerial contributions include the development of a crowdfunding service ecosystem model for arts managers, which offers not only a method of generating finance or economic value but also opportunities for strengthening bonds with customers and other stakeholders. This article is unique in that it integrates value proposition categories in micro-, meso-, and macrocontexts and analyzes the different kinds of cocreation that exist in the crowdfunding context.

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Plattner, Verena. "Das Geheimnis des Crowdfundings und welchen Nutzen Banken daraus ziehen können." Der Betriebswirt: Volume 58, Issue 1 58, no. 1 (February 28, 2017): 21–24. http://dx.doi.org/10.3790/dbw.58.1.21.

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Welche Herausforderung Crowdfunding als alternatives Finanzierungsinstrument für Banken darstellt und wie sie Chancen daraus nützen können. Die Autorin untersuchte im Zuge ihres Studienabschlusses in einer in Englisch verfassten Masterarbeit die Chancen und Herausforderungen für Banken mit schenkungsbasiertem Crowdfunding. Nachdem die Autorin die empirische Literatur rund um diese Kernfrage ausgewertet hat, versuchte sie anhand einer eigenen Studie die Motive von Banken zum Einsatz von Crowdfunding herauszufinden. Ihr Fazit: Spenden ist so angesagt wie noch nie zuvor: Das Community-Denken gewinnt in unserer Gesellschaft immer mehr an Bedeutung, was auch die Entwicklung des sogenannten „Crowdfundings“ fördert. Banken stehen vor großen Herausforderungen und viele rechtliche Restriktionen lassen das Fördern von jungen Start-ups oder kreativen Projekten oftmals nicht zu. Dadurch gewinnt das Sammeln von Geld über das anonyme Publikum auf Internet-Plattformen noch mehr an Attraktivität. Doch anstatt sich von alternativen Finanzierungsformen in die Enge treiben zu lassen, haben einige Banken bereits damit begonnen, selbstständig Crowdfunding-Plattformen zu betreiben. Mit dieser Idee beschäftigt sich auch die Studie des vorliegenden Artikels. Fakt ist, dass eine eigene Crowdfunding-Plattform die Bank bei der Digitalisierung und im Cross-Channel-Vertrieb unterstützt. Durch das widergespiegelte moderne Image kann auch die Kundenbeziehung intensiviert sowie Neukunden gewonnen werden. Positive Praxisbeispiele belegen dabei den Erfolg von bankeigenen Crowdfunding-Plattformen. Donating is as famous as it never used to be before: The community thinking in our society becomes more and more famous. This movement encourages the development of “crowdfunding”. Banks are faced with major challenges. Due to legal restrictions they can no longer grant financial support for young start-ups or creative projects. Therefore, the raising of money for business ideas and social initiatives via the anonymous audience on internet platforms becomes even more attractive. In order to stay competitive with these alternative financing forms some banks started to establish their own crowdfunding platforms. This idea represents the foundation of the underlying study in this article. By investigating the chances and challenges crowdfunding could offer to banks it is clear that crowdfunding platforms facilitate the digitalization and the cross-channel marketing. Moreover, the modern image transferred to the customers can create long-term relationships and attract new customers. Positive practical examples demonstrate the success of bank-owned crowding platforms. Keywords: „social value“, finanzierungsalternative, fach know how, crowdinvesting, crowdfunding plattform

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Kubo, Takahiro, Diogo Veríssimo, Shinya Uryu, Taro Mieno, and Douglas MacMillan. "What determines the success and failure of environmental crowdfunding?" Ambio 50, no. 9 (March 23, 2021): 1659–69. http://dx.doi.org/10.1007/s13280-021-01522-0.

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AbstractOnline crowdfunding can help address the perennial financial shortfalls in environmental conservation and management. Although many online crowdfunding campaigns fail to collect any funds due to not achieving their targets, little is known about what drives success. To address this knowledge gap, we applied a mixed-methods approach to data from 473 successful and failed campaigns hosted on the online crowdfunding platform Readyfor. We found that fundraising performance varied by topic, with campaigns on pet animal management outperforming those focussed on landscape management and sustainable use. We also found that marketing strategies associated with online findability and increased reach through social networks, increased fundraising success. However, the existence of other environmental campaigns running simultaneously, reduced the chance of success, which implies that the selecting popular topics does not always increase the likelihood of success due to increased competition. Wider applications of marketing could enhance the ability of environmental crowdfunding campaigns to raise funds.

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Troise, Ciro. "Marketing Strategies in Equity Crowdfunding: A Comparative Study of Italian Platforms." International Journal of Marketing Studies 11, no. 4 (September 29, 2019): 16. http://dx.doi.org/10.5539/ijms.v11n4p16.

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This paper explores equity crowdfunding platforms from a marketing perspective. The present exploratory study attempts to make a double contribution to the current literature on equity crowdfunding. Firstly, it analyzes the marketing strategies of the platforms by focusing on the well-known 4Ps marketing mix framework, i.e. product, price, promotion and placement. Each dimension presents three types of categories. Second, the study investigates the marketing strategies of both large platforms and small platforms, then the differences between these two types of platforms are examined in terms of campaigns’ outcomes, i.e. funding collected (in %), funding amount (in €) and number of investors. Platforms adopt a standardization strategy for pricing and placement, while a differentiation strategy is mainly adopted for promotion and products. Large platforms offer a wider range of services (in particular ongoing campaign services and post-campaign services) and promotional activities (in particular leverage many communication channels). The analyses disclose significant statistically differences between these two types of platforms. Projects posted on large platforms are more likely to get higher campaigns’ outcomes. In literature, little is known about marketing strategies in equity crowdfunding platforms, thus this study tries to fill this gap. The paper is the first to analyze the 4Ps of platforms and to conduct a comparative empirical study to determine the differences of campaigns’ outcomes between large and small platforms. The Italian context represents a significant case of developed country in theme of equity crowdfunding. The results are useful for platform managers, entrepreneurs, investors and authorities.

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Lima, Afonso, and Francisco Fabiano Mapurunga Araújo. "Technology environment and crowdfunding platforms in Brazil." Revista de Gestão 26, no. 4 (October 21, 2019): 352–68. http://dx.doi.org/10.1108/rege-12-2018-0119.

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Purpose The purpose of this paper is to analyze the influence of the technological segment of the general environment in crowdfunding platforms’ operations in Brazil. Design/methodology/approach By means of a qualitative and exploratory approach, the research comprised the execution of a panel of experts via semi-structured interview scripts. For the data analysis, a content analysis with the software NVivo 9 was conducted. Findings One of the main results concerning this influence in the industry would be the expansion of internet access as key factor to scalability of operations and the use of analytics for developing markets. In addition, the cultural aspect emerges as facilitator for platforms access, thus the influence of technological segment cannot be analyzed without considering the cultural segment of the general environment. Research limitations/implications Research limitations relate to the qualitative approach; although valuable insights were obtained for strategic policy in crowdfunding platforms, generalization is not possible. Moreover, the limited number of experts in the panel who agreed to participate may have been an obstacle for richer results. Practical implications Among some implications to the strategic management of crowdfunding platforms in the country are investment prioritization in analytics, governance and transparency of operations and marketing. Analytics will enable more effective insertion in supporting communities and better selection strategies of projects with attributes of success; governance and marketing will aid platforms to reduce cultural resistance on the part of the potential users. Social implications Regulations regarding crowdfunding platforms as well as socio-cultural segment of the strategic environment are key aspects in fostering co-creation among participants and in bringing scale to crowdfunding operations; they may be mediated by technology. Thus, analytics along with marketing initiatives related to addressing shared practices in communities will have a significant impact on the adoption of crowdfunding. Furthermore, such task should be more intense than in developed economies where internet infrastructure and quality access are widespread. Originality/value Although various contributions have been made to the theme of crowdfunding, there has not been identified any paper addressing future influences of the strategic general environment, such as the technological segment, to the operations of crowdfunding platforms, especially in the Brazilian context.

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Fehrer, Julia A., and Suvi Nenonen. "Crowdfunding networks: Structure, dynamics and critical capabilities." Industrial Marketing Management 88 (July 2020): 449–64. http://dx.doi.org/10.1016/j.indmarman.2019.02.012.

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Xu, Bo, Haichao Zheng, Yun Xu, and Tao Wang. "Configurational paths to sponsor satisfaction in crowdfunding." Journal of Business Research 69, no. 2 (February 2016): 915–27. http://dx.doi.org/10.1016/j.jbusres.2015.06.040.

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Felipe, Israel José dos Santos, Wesley Mendes-Da-Silva, Cristiana Cerqueira Leal, and Danilo Braun Santos. "Reward crowdfunding campaigns: Time-to-success analysis." Journal of Business Research 138 (January 2022): 214–28. http://dx.doi.org/10.1016/j.jbusres.2021.09.004.

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Calic, Goran, and Anton Shevchenko. "How signal intensity of behavioral orientations affects crowdfunding performance: The role of entrepreneurial orientation in crowdfunding business ventures." Journal of Business Research 115 (July 2020): 204–20. http://dx.doi.org/10.1016/j.jbusres.2020.04.060.

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Kim, Chul, P. K. Kannan, Michael Trusov, and Andrea Ordanini. "Modeling Dynamics in Crowdfunding." Marketing Science 39, no. 2 (March 2020): 339–65. http://dx.doi.org/10.1287/mksc.2019.1209.

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Foà, Caterina. "Crowdfunding cultural projects and networking the value creation." Arts and the Market 9, no. 2 (December 9, 2019): 235–54. http://dx.doi.org/10.1108/aam-05-2019-0017.

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Purpose The purpose of this paper is to investigate how online crowdfunding is strategically applied to artistic productions featuring strong social and cultural values, exploring potential and risks of networking value creation and community engagement. Mission-driven initiatives and their crowdfunding campaigns are analyzed through platform society framework (van Dijk, 2019), considering the business models and marketing strategies that support the scope and intentions of a variety of agents involved within the online networks. Design/methodology/approach A qualitative multiple case-study approach is adopted to sample and analyze in depth significant examples from the most representative crowdsponsoring platforms in Portugal. Agents’ perspectives and practices are collected through semi-structured interviews with campaign creators and platform managers, and complemented by the design of specific business model canvas (Osterwalder and Pigneur, 2010) adapted to crowdfunding projects. Communication strategies and social media marketing are considered, metering agent’s profile and comparing performance and online engagement through profile and official pages observation. Findings Main findings point out that a crowdfunding campaign requires to set up a specific business model and marketing strategy articulation that go beyond the traditional cultural enterprises differentiation criteria, hybridizing them through experience-led marketing logic, extended product conceptualization and a critical cultural entrepreneurship approach. Community engagement operations need to be structured and integrated through online and offline social networks activities, and the value creation is build through shared meaning construction and interpretation between creators and backers, with the support of others agents involved within crowdfunding value network. It also states that the conceptualization of crowdfunding phenomenon as a service ecosystem (Quero and Ventura, 2019) could be extended, to comprehend other actors and power position within intermediation processes, namely, social network and social media platforms corporations, online payments services, online users, legacy media entities and others stakeholders as matchfunding organizations and partners for products’ development and distribution. Research limitations/implications The research design could be improved by adding more quantitative and social analytics data or an international cases comparison to complete these preliminary results. Practical implications The findings could assist arts and media managers as well as cultural agents to adapt their strategies to emergent business and marketing models, strongly influenced by dominant barging positions in the value chain held by new digital intermediaries, and to better explore product levels to strengthen interactions and engagement with communities of interest and supporters for the creation of value. Social implications This paper contributes to elaborate a more accurate scientific knowledge and critical perspective about crowfunding system evolution, concerning both individual and collective agencies, and their implication for different types of agents and networked individuals between institutions (Dutton, 2009). Originality/value This study is unique, as it adopts a multidisciplinary approach and a comprehensive analysis of Portuguese crowdsponsoring phenomenon, and it offers a valid contribution to the analysis of crowdfunding as value-creation network.

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Marakkath, Nadiya, and Laurence Attuel-mendes. "Can microfinance crowdfunding reduce financial exclusion? Regulatory issues." International Journal of Bank Marketing 33, no. 5 (July 6, 2015): 624–36. http://dx.doi.org/10.1108/ijbm-06-2014-0080.

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Purpose – The purpose of this paper is to discuss how regulatory environment can be a fundamental constraint or lever in defining the scope of operations of a social innovation. Design/methodology/approach – Semi-structured interviews with top-level executives of pioneers of crowdfunding were run in India and France, two of the three leading countries in this field. Findings – Four main issues rise: choice of legal status, constraints for the operations model, compliance with anti-money laundering measures and challenges in marketing and sustainability. Originality/value – This paper contributes to knowledge advancement in the field of this new funding actor that could challenge the banking system. This is the first paper to explore these regulatory issues and their impact on marketing practices.

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Fondevila-Gascón, Joan-Francesc, Josep Rom-Rodríguez, Judit Mata-Monforte, Eva Santana-López, and Pere Masip-Masip. "Crowdfunding as a formula for the financing of projects: an empirical analysis." Revista Científica Hermes - FIPEN 14 (November 21, 2015): 24. http://dx.doi.org/10.21710/rch.v14i0.230.

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Crowdfunding oferece enormes possibilidades para o marketing e comunicação, uma vez que facilita a circulação de novos projetos, gera o público e cria uma base social leal. No entanto, as experiências de crowdfunding pode ser diversa. Os objetivos desta investigação são três; analisar crowdfunding plataformas da Espanha, por meio de métodos de pesquisa quantitativos e qualitativos (descritiva e relacional); realizar um estudo comparativo do índice de eficiência de campanhas de crowdfunding para projetos com fins lucrativos, em comparação com as campanhas para arrecadar dinheiro para causas sociais; e propor orientações sobre boas práticas listando os pontos-chave de uma campanha bem sucedida. Os resultados obtidos indicam que a percentagem de campanhas com fins lucrativos de sucesso não é maior do que para aqueles de caridade, e que a conformidade com os pontos-chave nas orientações de boas práticas propostas é mais propensa a resultar em uma campanha de crowdfunding bem sucedido.

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Tyni, Heikki. "Double Duty: Crowdfunding and the Evolving Game Production Network." Games and Culture 15, no. 2 (December 27, 2017): 114–37. http://dx.doi.org/10.1177/1555412017748108.

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As independent game makers strive to tackle the demands of game production without the help of a traditional publisher, a familiar game production environment has started to evolve. Adopting a game production studies perspective, this article focuses on crowdfunding as a new channel for independent game development and the shifts crowdfunding causes in the game production network. Two successfully crowdfunded case examples— Bloodstained (2018), a digital game, and Conan (2016), a board game—are used to illustrate changes crowdfunding causes in the traditional game production environment. In removing the publisher as an “unnecessary” middleman, crowdfunded productions need to take care of the many tasks that used to belong to publishers, such as marketing, partner sourcing, distribution networks, and customer relationships. As projects turn to emerging production network intermediaries, their significance—as well as that of the crowdfunding backers—provides evidence to classify the crowdfunding model as a new game production logic.

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De Crescenzo, Veronica, Dolores Botella-Carrubi, and María Rodríguez García. "Civic crowdfunding: A new opportunity for local governments." Journal of Business Research 123 (February 2021): 580–87. http://dx.doi.org/10.1016/j.jbusres.2020.10.021.

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Tan, Yee Heng, and Srinivas K. Reddy. "Crowdfunding Platforms: Ecosystem and Evolution." Foundations and Trends® in Marketing 14, no. 2 (2020): 53–172. http://dx.doi.org/10.1561/1700000061.

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Woods, Kathryn, and Terry Damron. "And the crowd goes wild: examining a successful crowdfunding campaign." CASE Journal 13, no. 1 (January 3, 2017): 152–62. http://dx.doi.org/10.1108/tcj-08-2015-0039.

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Synopsis This case explores the concept of crowdfunding by examining the background of the fundraising model in addition to the successful campaign, “Let’s Send Kids to Harvard: Vidal Scholarship Fund.” In this campaign, Brandon Stanton leveraged the large following of his photo blog, “Humans of New York,” to raise more than one million dollars for students in an inner-city middle school. The fundraiser received national attention and broke the record for the most contributors to a single campaign on the popular crowdfunding website, Indiegogo. Students are encouraged to think critically about what elements work together to create a successful crowdfunding campaign. Research methodology Secondary data were reviewed to provide a thorough review of the history of crowdfunding as well as to chronicle the events that led up to the successful crowdfunding campaign highlighted in the case study. Relevant courses and levels This case is appropriate for university marketing, social media, public relations, and entrepreneurship courses. This case has a difficulty level appropriate for sophomore-, junior-, or senior-level courses.

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Lagazio, Corrado, and Francesca Querci. "Exploring the multi-sided nature of crowdfunding campaign success." Journal of Business Research 90 (September 2018): 318–24. http://dx.doi.org/10.1016/j.jbusres.2018.05.031.

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Lacan, Camille, and Pierre Desmet. "Does the crowdfunding platform matter? Risks of negative attitudes in two-sided markets." Journal of Consumer Marketing 34, no. 6 (September 11, 2017): 472–79. http://dx.doi.org/10.1108/jcm-03-2017-2126.

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Purpose Crowdfunding offers a popular means to raise donations online from many contributors. Open calls for contributions involve another actor too, namely, the internet platform that maintains the two-sided market. This paper aims to examine the effect of this intermediary on contributors’ willingness to participate in crowdfunding projects. Design/methodology/approach An online survey measures the relative effect of contributors’ attitudes towards the crowdfunding platform on two key behaviours: willingness to share word-of-mouth and willingness to participate in a project. Findings Using the theoretical framework of a two-sided market, the empirical study reveals that attitudes towards a crowdfunding platform moderate contributors’ willingness to participate due to several risk factors that affect the platform’s perceived usefulness and ease of use. These factors have negative influences on attitude towards the platform, which reduces support for the project. The effects are stronger for willingness to participate than for word-of-mouth intentions. Research limitations/implications Declarative measures and a focus on the utilitarian dimensions of contributor participation limit the external validity of the findings. Practical implications With the results of this study, internet platforms can find ways to improve the attitudes of potential contributors. Project creators can use the findings to adapt their communication campaigns and reduce inhibitions that keep contributors from using platforms. Originality/value This study advances marketing and crowdfunding literature by highlighting the potential dark side of a platform that functions as an intermediary in a two-sided market.

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De Crescenzo, Veronica, Domingo Enrique Ribeiro-Soriano, and Jeffrey G. Covin. "Exploring the viability of equity crowdfunding as a fundraising instrument: A configurational analysis of contingency factors that lead to crowdfunding success and failure." Journal of Business Research 115 (July 2020): 348–56. http://dx.doi.org/10.1016/j.jbusres.2019.09.051.

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Mohd Thas Thaker, Mohamed Asmy Bin. "Factors influencing the adoption of the crowdfunding-waqf model (CWM) in the waqf land development." Journal of Islamic Marketing 9, no. 3 (September 10, 2018): 578–97. http://dx.doi.org/10.1108/jima-05-2016-0043.

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Purpose This paper aims to examine the behavioural intention of donors or crowd funders to use crowdfunding-waqf model (CWM), as this model is proposed to address the liquidity problem faced by waqf institution in Malaysia. Design/methodology/approach The primary data are collected from the survey administered to donors or crowd funders in Klang Valley and the analysis is conducted using Partial Least Squares (PLS). The model has validated its acceptance in the field by adopting the theory of Technology Acceptance Model (TAM). Findings This study has revealed that both the perceived usefulness and perceived easy to use are found to have a positive impact on the intention of donors or crowd funders in assisting waqf institution to develop waqf land in Malaysia. Furthermore, perceived easy to use has a positive relationship and direct effect with perceived usefulness of crowd funders to use the CWM. Research limitations/implications The variables that have been used based on TAM in this study are constantly in flux. There are other variables such as trust, social norm, orientations that might be affecting the adoption level of donors or crowd funders in Malaysia. In addition, the current study is covering only Klang Valley, Malaysia. Future research is nevertheless still required that incorporate other variables and extend the study to other states of Malaysia. Practical implications The findings of this paper will provide waqf institution with an alternative source for raising capital to develop waqf asset. The present study also has implications for government and policy makers. Originality/value To the best of the author’s knowledge, no study has incorporated an element of crowdfunding to develop waqf land. Thus, the present study is relevant in extending the importance of crowdfunding as a source of financing for waqf institutions in developing waqf land.

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Acar, Oguz A., Darren W. Dahl, Christoph Fuchs, and Martin Schreier. "The Signal Value of Crowdfunded Products." Journal of Marketing Research 58, no. 4 (May 31, 2021): 644–61. http://dx.doi.org/10.1177/00222437211012451.

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Crowdfunding has emerged as an alternative means of financing new ventures by utilizing the financial support of a large group of individual investors. This research asks a novel question: Does being crowdfunded carry any signal value for the broader market of observing consumers? Seven studies reveal a consumer preference for crowdfunded products, even after controlling for a product’s objective product characteristics. The authors identify two inferences that help explain this effect: (1) consumers perceive crowdfunded products to be of higher quality, and (2) they believe that supporting crowdfunding reduces inequality in the marketplace. The authors further document an important boundary condition of the first inference: the identified effect reverses in high-risk domains (e.g., products that involve high physical risk) due to consumer perceptions that the crowdfunding model lacks sufficient professionalism to mitigate risk. With regard to the second inference, the authors find that the positive crowdfunding effect is particularly strong among consumers who value social equality. Taken together, this work sheds new light on consumer perceptions of crowdfunding, elucidates why and when consumers prefer crowdfunded products, and offers actionable implications for managers.

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Brown, Ross, Suzanne Mawson, and Alexander Rowe. "Start-ups, entrepreneurial networks and equity crowdfunding: A processual perspective." Industrial Marketing Management 80 (July 2019): 115–25. http://dx.doi.org/10.1016/j.indmarman.2018.02.003.

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Maehle, Natalia. "Sustainable crowdfunding: insights from the project perspective." Baltic Journal of Management 15, no. 2 (March 17, 2020): 281–302. http://dx.doi.org/10.1108/bjm-02-2019-0079.

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PurposeThis paper explores the peculiarities of sustainable crowdfunding from the project perspective. The research question is: what are the distinctive features of sustainable crowdfunding, in terms of crowdfunding motivation, platform choice, crowdfunding costs and relationships with backers?Design/methodology/approachThe current study follows a qualitative approach, through conducting in-depth interviews with representatives of sustainable projects, which have had successful crowdfunding campaigns. The selected projects represent various industries and crowdfunding models.FindingsSustainable entrepreneurs have both financial and non-financial motivations for crowdfunding. A distinctive feature is the importance of community engagement, since the community spirit of crowdfunding is well suited to sustainable projects. The choice of the crowdfunding platform is more complex for sustainable entrepreneurs, as they need to consider the platform's sustainability. Sustainable entrepreneurs also have to put more effort into their communication activities with potential backers, to compensate for the intangibility of sustainability claims. Moreover, they need to have a greater focus on building relationships with backers due to both the community spirit of their projects and legitimacy issues.Originality/valueThe current paper contributes to the limited literature on sustainable crowdfunding and the literature on funding of sustainable businesses and can act as a foundation for further research in this field. Current findings also have high practical value. Crowdfunding platforms may use the insights provided here to better meet the needs of sustainable entrepreneurs, while sustainable entrepreneurs can better understand what they need to pay attention to in their crowdfunding campaigns.

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Wei Shi, Savannah. "Crowdfunding: Designing an effective reward structure." International Journal of Market Research 60, no. 3 (January 12, 2018): 288–303. http://dx.doi.org/10.1177/1470785317744113.

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Many crowdfunding platforms allow developers maximum flexibility in terms of the number and types of rewards offered in a project. However, designing an effective reward structure continues to be a major challenge. This article empirically examines consumers’ responsiveness to different factors related to reward structures on crowdfunding platforms. We collected data from 2,262 rewards programs across 219 projects and applied a mixed Tweedie model to investigate the impact of various reward structures on the number of backers and the revenue generated at each reward tier. The results revealed a significant effect of reward limit setting on backers’ interest, but this effect varies by reward tiers. Higher tiers attenuate price sensitivity. The reward type matters as well: material rewards are better received than symbolic ones on crowdfunding platforms, but only in lower reward tiers. These findings have direct implications for launching crowdfunding projects that will be more effective in creating buzz and reaching their fundraising goals.

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Yan, Chaosong, Jun Zhu, Yinglong Ouyang, and Xingyu Zeng. "Marketing Method and System Optimization Based on the Financial Blockchain of the Internet of Things." Wireless Communications and Mobile Computing 2021 (June 9, 2021): 1–11. http://dx.doi.org/10.1155/2021/9354569.

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This article makes relevant research and analysis from theory and practice, respectively. At the same time, with reference to the current state of the Internet, relative analysis was used to focus on the state of commercial banks. The analysis mainly focuses on the problems encountered in the current Internet development in various forms such as the bank’s sales status and customer products. In addition, it really made a reasonable opinion about the relevant sales status of this bank. It systematically studied the development history of marketing products of financial blockchain in China’s financial blockchain and analyzed the process of gradual improvement of the functions and characteristics of marketing products of financial blockchain in China. The characteristics and shortcomings of the marketing products of the financial blockchain were discussed in detail, and from the perspective of technological innovation, the application of emerging technologies in the marketing of China’s financial blockchain was analyzed. This article analyzes the many challenges and opportunities faced by security firms in the development of the Internet. Under the new situation, what kind of development model to adopt and how to transform and upgrade is the strategic proposition that security firms must think about. Based on Internet finance, this article finds that the equity crowdfunding model can be selected in the future development of security companies. On the one hand, the use of equity crowdfunding by security firms can enhance their direct financing capabilities, which will benefit the security industry, especially Internet security firms. On the other hand, through equity crowdfunding, security companies can expand direct financing channels for small, medium, and micro enterprises to promote entrepreneurship. The paper promotes the development of Internet finance, thereby improving the ability of the capital market to serve the real economy.

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Roedenbeck, Marc R. H., and Manfred Lieb. "Continually harvesting the crowds." Journal of Research in Marketing and Entrepreneurship 20, no. 2 (October 15, 2018): 147–69. http://dx.doi.org/10.1108/jrme-11-2016-0047.

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PurposeThis paper aims to investigate how a small business is able to continually use entrepreneurial financial sources (i.e. crowdfunding) within and after a successful transformation from an entrepreneur. It additionally investigates how a market incumbent is able to successfully join the market of entrepreneurial financial resources.Design/methodology/approachTherefore, a comparative case study using qualitative and quantitative data as well as triangulation technique is conducted within the international board game (or tabletop) market at the crowdfunding platform Kickstarter. The US company CMON, which has developed from an entrepreneur to a small business and beyond, is compared with the German incumbent Pegasus. Based on an analysis of a set of key performance indicators suggested in the literature, qualitative and quantitative variables are deductively derived to measure their impact on the financial goal achievement, thereby showing their impact on the goal achievement. During the analysis, additional variables are identified inductively.FindingsAs a result, several qualitative components are found to be crucial, including oral storytelling and computer animated videos/images, a perfect multilingual product language, prototyped components, an active community and a depth and regularity in campaign updates. In quantitative terms, important components include having more product images than longer project descriptions, more optional buys than different but fixed project rewards, a big social network (on Twitter and Facebook), and the number of updates.Research limitations/implicationsBased upon the data and findings, this study invites for more research, especially in conducting a larger scale quantitative analysis using the developed framework to compare more cases within a branch, cases across branches and cases with different background stories.Practical implicationsBut to successfully run a crowdfunding campaign, entrepreneurs and incumbents can use the provided measures as a first design- and decision-roadmap, as well as copying the new business strategy of continually practicing crowdfunding for new products.Originality/valueDespite its limits, this paper offers the first in-depth qualitative and quantitative crowdfunding case study showing on the one hand a new business strategy about crowdfunding as well as providing a structured measure to compare crowdfunding project performance.

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Konhäusner, Peter, and Robert Seidentopf. "Digital Marketing Effects of Clubhouse on Crowdfunding in the Context of COVID-19." Journal of Risk and Financial Management 14, no. 8 (July 29, 2021): 347. http://dx.doi.org/10.3390/jrfm14080347.

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In the marketing mix, promotion is mentioned as using the communication channels available to present and market the product or service at hand. In recent years, social media has risen as an influential marketing communication channel in digital space. Apart from end-to-end direct messengers and video communication in times of the COVID-19 pandemic, the social media channel Clubhouse offers an audio-only experience. The current research lacks analysis of the potential influence of the hyped social network. Due to the novelty of the channel and the absence of text messages as well as visual stimuli, questions regarding the impact that usage of this social media channel might have on crowdfunding, a means of rising popularity in alternative financing, have arisen. The study builds upon the media richness theory of Daft and Lengel as well as the channel expansion theory of Carlson and Zmud. Besides literature research, explorative expert interview analyses were applied to answer the research question at hand. The main findings include different approaches to foster the opportunities of Clubhouse for marketing crowdfunding campaigns in line with insights about the user group of Clubhouse as well as development options for the platform.

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Giuliani, Veronica, Nathalie Colasanti, Rocco Frondizi, and Manuela Barreca. "Civic crowdfunding, social marketing and the co-creation of public value." MERCATI & COMPETITIVITÀ, no. 2 (June 2018): 109–30. http://dx.doi.org/10.3280/mc2018-002006.

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Zhao, Jingjing, Yongli Li, Yunlong Ding, and Chao Liu. "The value of leading customers in a crowdfunding-based marketing pattern." PLOS ONE 14, no. 4 (April 15, 2019): e0215323. http://dx.doi.org/10.1371/journal.pone.0215323.

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Brown, Terrence E., Edward Boon, and Leyland F. Pitt. "Seeking funding in order to sell: Crowdfunding as a marketing tool." Business Horizons 60, no. 2 (March 2017): 189–95. http://dx.doi.org/10.1016/j.bushor.2016.11.004.

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Zhang, Yao, and Ying Tian. "Choice of pricing and marketing strategies in reward-based crowdfunding campaigns." Decision Support Systems 144 (May 2021): 113520. http://dx.doi.org/10.1016/j.dss.2021.113520.

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Yang, Lusi, Zhiyi Wang, and Jungpil Hahn. "Scarcity Strategy in Crowdfunding: An Empirical Exploration of Reward Limits." Information Systems Research 31, no. 4 (December 2020): 1107–31. http://dx.doi.org/10.1287/isre.2020.0934.

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Scarcity-based marketing strategy has been prevalently implemented in reward-based crowdfunding in the form of reward limits, whereby campaign creators restrict the number of backers for each reward tier. This study uncovers the effect of reward limits on eventual and concurrent funding performance. Specifically, we performed campaign-level and campaign day–level analyses on a unique data set from a dominant crowdfunding platform. At the campaign level, we determined that setting reward limits at the beginning of a campaign is beneficial, with the number of limited reward tiers exerting an inverted-U-shaped relationship with campaign performance. Further exploration of different forms of reward limits suggests that the scarcity effects largely originate from limited edition and price discount rewards. At the campaign day level, we determined that incorporating new limited edition rewards is helpful for attracting new contributions, whereas depleted price discount rewards will demotivate subsequent contributions. In addition, the goal-directed mechanism in crowdfunding plays an influential role in shaping scarcity effects. Our findings highlight the importance of considering backer-as-consumer needs in crowdfunding campaign design and the dynamics of campaign attribute changes in the fundraising process. Our findings also provide important practical implications for platform operators, campaign creators, and marketers.

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Efrat, Kalanit, Shaked Gilboa, and Arie Sherman. "The role of supporter engagement in enhancing crowdfunding success." Baltic Journal of Management 15, no. 2 (March 18, 2019): 199–213. http://dx.doi.org/10.1108/bjm-09-2018-0337.

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Purpose Recent research has addressed the marketing aspects incorporated in crowdfunding activity, establishing their relevance to campaign success. In line with this, research has begun to explore the behavioral aspects of crowdfunding participants, drawing on the buyer–seller interaction. The purpose of this paper is to expand on this trend by investigating the role of supporter engagement and its link to campaign success. Design/methodology/approach The proposed model was tested using structural equation modeling analysis. Data collection was based on a survey of 116 supporters, combined with outcome data of 530 crowdfunding campaigns. Findings The study’s findings revealed that supporters distinguish between their engagement to the campaign and to the campaign’s creator. However, both aspects of engagement affect community establishment and supporters’ promotion efforts. The authors also found that these indicators of engagement are associated with campaign success. Originality/value Research on crowdfunding supporters have focused to date on criteria contributing to campaigns success, exploring the motivational aspects associated with such activity. The current study expands this perspective by examining supporters’ engagement, differentiating between engaging with the creator and engaging with the campaign. Recommendations for creators include making efforts to establish supporter engagement to facilitate active promotion and shape future support intentions, thus facilitating enhanced outcomes for both current and future campaigns.

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Bukhari, Farasat Ali Shah, Sardar Muhammad Usman, Muhammad Usman, and Khalid Hussain. "The effects of creator credibility and backer endorsement in donation crowdfunding campaigns success." Baltic Journal of Management 15, no. 2 (November 27, 2019): 215–35. http://dx.doi.org/10.1108/bjm-02-2019-0077.

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Purpose The purpose of this paper is to investigate the effects of creator credibility and backer endorsement on the levels of donation to crowdfunding campaigns in a focal muslim community and to determine the success factors of projects in developing and developed countries. Design/methodology/approach This research adopts a quantitative approach, utilizing 223 crowdfunding projects from LaunchGood to examine the expected connections. The crowdfunding projects in the distinctive data set (Ramadan) are similar, permitting exploration of the role of creator credibility and backer endorsement in a unique context of religious-based crowdfunding activity. Findings Creators’ credibility and backers’ endorsements are decisive factors in crowdfunding success. Results from an additional test related to location (developing and developed countries) suggest that creators’ credibility is more important than backers’ endorsements, especially in developing countries. Research limitations/implications The projects used in the data set are homogenous and take place in a specific context. The limited number of available observations influences the testing function and capacity of the models and variables. Further, the investigation is related to a specific community, so might not be applicable to all communities. Social implications Potential supporters from the community are vital for the success of crowdfunding projects. This study informs campaign efforts in a religious community by stressing the importance of creators’ credibility and backers’ endorsements. The study also sheds light on factors that affect crowdfunding success in developing and developed countries. Originality/value This study helps to explain successful crowdfunding practices in donation-based crowdfunding projects within a religious community context. Results improve scholars’ ability to comprehend individuals’ supporting behavior, providing empirical evidence of creators’ credibility and backers’ endorsement on project success. The study also addresses the determinants of crowdfunding success in developing and developed countries.

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Ko, Jisu, and Eunju Ko. "What fashion startups should know before launching Crowdfunding projects: Focusing on Wadiz reward Crowdfunding." Journal of Global Fashion Marketing 12, no. 2 (February 18, 2021): 176–91. http://dx.doi.org/10.1080/20932685.2020.1870521.

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Fan, Tingting, Leilei Gao, and Yael Steinhart. "The Small Predicts Large Effect in Crowdfunding." Journal of Consumer Research 47, no. 4 (April 14, 2020): 544–65. http://dx.doi.org/10.1093/jcr/ucaa013.

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Abstract Entrepreneurs are increasingly relying on online crowdfunding—the use of online platforms to raise money from a large number of people—to finance their ventures. This research explores the proposition that the amounts contributed by the majority of funders in the early stages of a crowdfunding campaign may have a counterintuitive influence on follow-up contributions and on the campaign’s fundraising success. Findings from an analysis of real-world large-scale crowdfunding data and five experiments show that potential funders are more (vs. less) likely to contribute to a newly launched project when early contributions consist mainly of relatively small (vs. large) amounts. The results further show that this Small Predicts Large effect is driven by people’s relationship inferences: when contributions made at the early stages of a crowdfunding campaign mainly comprise relatively large amounts, consumers tend to infer that those large contributions were made by the entrepreneur’s friends or relatives. Because of this relationship inference, prospective funders perceive larger contributions as being less diagnostic of others’ true opinions of the project and this perception negatively affects their willingness to contribute. However, if a crowdfunding campaign provides sufficient justification for the early-stage large contributions, this Small Predicts Large effect will be eliminated.

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G P, Girish, and Seeboli Ghosh. "Dynamics between Digital Visibility through Social Media Marketing and Crowdfunding: Path to Succeed in Entrepreneurship." Indian Journal of Finance and Banking 4, no. 2 (August 7, 2020): 28–37. http://dx.doi.org/10.46281/ijfb.v4i2.698.

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Digital visibility through social media marketing has played a colossal role in the realm of entrepreneurship and fund-raising. Strong positive dynamics between social media marketing and crowd-funding has the impending to decipher demand-supply gap of fundraising at the pre-seed stage. In this study, we explore the relationship between usage of social media and awareness of crowd-funding as a viable option for raising pre-seed capital in an emerging market of India which has witnessed the exponential growth of start-up companies and entrepreneurship in the past few years. The results of the study suggest that awareness of different options of crowdfunding for raising pre-seed capital is strongly correlated with the effective usage of social media platforms by the organizations. From an organization’s perspective, it has been found that effective use of Social Media platforms increases with the duration involved in social media platforms. The results of the study give a perspective for all entrepreneurs, fundraisers, and start-up companies that how digital visibility through social media marketing can unravel the problem of crowd-funding. With a growing trend of today’s youth using social media marketing worldwide, the strong dynamics between crowd-funding and social media marketing is expected to breed exponentially in terms of their contribution to the economy, wealth generation, and job creation.

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Groza, Mya Pronschinske, Mark D. Groza, and Luis Miguel Barral. "Women backing women: The role of crowdfunding in empowering female consumer-investors and entrepreneurs." Journal of Business Research 117 (September 2020): 432–42. http://dx.doi.org/10.1016/j.jbusres.2020.06.013.

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Liu, Yang, Yuan Chen, and Zhi-Ping Fan. "Do social network crowds help fundraising campaigns? Effects of social influence on crowdfunding performance." Journal of Business Research 122 (January 2021): 97–108. http://dx.doi.org/10.1016/j.jbusres.2020.08.052.

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Rykkja, Anders, Ziaul Haque Munim, and Lluis Bonet. "Varieties of cultural crowdfunding." Baltic Journal of Management 15, no. 2 (March 17, 2020): 261–80. http://dx.doi.org/10.1108/bjm-03-2019-0091.

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PurposeDue to the unique nature of the Cultural and Creative Industries (CCIs), the impact of crowdfunding on them is more significant than on other industries. This study investigates the association between crowdfunding campaigns in four different categories of cultural production and each campaign promoter's decision regarding platform choice.Design/methodology/approachWe classified cultural productions according to the Cultural Enterprise Framework. We collected data from 1,465 successful, reward-based, culture crowdfunding campaigns from five Nordic countries (Denmark, Finland, Iceland, Norway and Sweden). We used binary logistic regression for estimation purposes.FindingsWe find that cultural productions with a high degree of cultural affinity are more likely to use a local platform, while cultural productions with a higher degree of complexity in production or with composite motives are more likely to use an international platform. Additionally, the funding goal and the platform's financing model affect the probability of using an international platform.Originality/valueOur finding is that there is a relationship between cultural production type and crowdfunding platform choice, and that these choices can be crucial for campaign promoters. Based on the findings and empirical setting, there is evidence that campaign promoters of cultural productions with a cultural affinity orientation may choose to use local platforms, while promoters of projects with complex production requirements or composite motives for using crowdfunding similarly may tend to opt for international platforms. We also propose a framework for the categorisation of cultural productions.

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Saniei, Shima, and Michael L. Kent. "Social License to Operate in Crowdfunding Campaigns." Public Relations Review 47, no. 2 (June 2021): 102008. http://dx.doi.org/10.1016/j.pubrev.2020.102008.

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Cowden, Birton J., and Susan L. Young. "The copycat conundrum: The double-edged sword of crowdfunding." Business Horizons 63, no. 4 (July 2020): 541–51. http://dx.doi.org/10.1016/j.bushor.2020.03.012.

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Moradi, Masoud, and Vishag Badrinarayanan. "The effects of brand prominence and narrative features on crowdfunding success for entrepreneurial aftermarket enterprises." Journal of Business Research 124 (January 2021): 286–98. http://dx.doi.org/10.1016/j.jbusres.2020.12.002.

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Journal articles on the topic 'Crowdfunding marketing'

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