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.
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.
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.
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.
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.
Ahsan, M., Cornelis, E.F.I. and Baker, A. (2018), "Understanding backers’ interactions with crowdfunding campaigns: Co-innovators or consumers?", Journal of Research in Marketing and Entrepreneurship, Vol. 20 No. 2, pp. 252-272. https://doi.org/10.1108/JRME-12-2016-0053Download as .RIS
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