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Article
Publication date: 16 January 2007

Susan H.C. Tai

This study aims to investigate the relationship between successful brand advertising campaigns in China and various factors such as message/creativity, media selection…

Abstract

Purpose

This study aims to investigate the relationship between successful brand advertising campaigns in China and various factors such as message/creativity, media selection, market research, competition, market share, product uniqueness, and agency/client relationships.

Design/methodology/approach

The data for the study were collected by mailing a questionnaire to 283 advertising agencies executives who were selected from the All‐Asia Ad Agency Guide. A total of 1,086 questionnaires were sent out and 163 were returned for a response rate of 15 per cent. Factor analysis was first used to identify various success factors, and ANOVA was used to compare the means of each factor related to the degree of success of the campaign. Correlation analysis was then used to examine the relationship between successful brand advertising campaign and various success factors.

Findings

The results of the ANOVA indicate that there are significant relationships between some items in each factor and the degree of success of an advertising campaign. Correlation analysis further reveals that message/creativity, media selection, market research, market share, and product uniqueness are significantly related to the success of brand advertising in China. No significant relationship is found between brand success and competition or agency/client relationship.

Research limitations/implications

The respondents may have been biased about the extent to which their advertising campaigns are successful or how creative an advertisement should be. Their perceptions of successful or creative advertising could be very different, especially in relation to those questions that asked respondents to critique their own work. All of these affect the rigor of the study. Another limitation of the study is the low response rate. If the sample size had been large enough, comparisons could have been made concerning the correlates of successful brand advertising across different regions in China.

Originality/value

In addition to providing researchers with further understanding of brand advertising in China, this study provides some insights about the ways in which multinational advertising managers contribute to successful brand advertising.

Details

Asia Pacific Journal of Marketing and Logistics, vol. 19 no. 1
Type: Research Article
ISSN: 1355-5855

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Article
Publication date: 10 February 2021

Bree Dority, Sarah J. Borchers and Suzanne K. Hayes

This study aims to investigate how the language used in US Title II equity crowdfunding campaign descriptions relates to campaign success.

Abstract

Purpose

This study aims to investigate how the language used in US Title II equity crowdfunding campaign descriptions relates to campaign success.

Design/methodology/approach

Data on >3,200 equity offerings from 12 Title II platforms was obtained from 2013 to 2016. The aspects of the campaign descriptions that are focused on are tone and two measures of readability: information quantity – the amount of information available to the investor and information quality – the ease of understanding of the passage of text. Tobit regressions with sector-clustered standard errors are used for estimation while controlling for company-specific variables, market sentiment and platform, regional, sector and time effects. Results are robust to alternative estimation approaches.

Findings

Inverse U-shaped relationships exist between information quantity, information quality and tone and Title II equity crowdfunding campaign success. Overall, less is more as it appears that an intermediate level of information – quantity, quality and tone – is optimal in terms of being a factor that contributes to equity crowdfunding campaign success.

Originality/value

Extends the use of textual analysis to the equity crowdfunding environment in the USA where such analysis is lacking and provides empirical evidence that the language used (e.g. sentiment) in US Title II equity-based crowdfunding campaign descriptions does influence campaign success. It provides empirical evidence of and extends the concept of information overload to the entrepreneurial finance sub-field and indicates tone may be an additional information attribute to consider in this context as contributing to overload.

Details

Studies in Economics and Finance, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1086-7376

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Article
Publication date: 13 July 2020

Demetris Vrontis, Michael Christofi, Enrico Battisti and Elvira Anna Graziano

This paper explores knowledge sharing (KS) and intellectual capital (IC) impacts on the success rate of equity crowdfunding (EC) campaigns in the Italian market, which…

Abstract

Purpose

This paper explores knowledge sharing (KS) and intellectual capital (IC) impacts on the success rate of equity crowdfunding (EC) campaigns in the Italian market, which represents a new model for financing entrepreneurial initiatives.

Design/methodology/approach

The relation between KS, IC and the success rate of EC campaigns is analysed with a panel regression that measures IC through the value added intellectual coefficient. Social network analysis is used to measure KS in the users' network on Twitter for EC campaigning. Specifically, the authors consider the information users exchange on social networks as a proxy of KS and identify the hubs influencing information dissemination, the size and strength of networks for each EC campaign. Finally, the success rate of EC campaigns is a ratio of the number of positive campaigns to the total number of campaigns for each platform.

Findings

The success rate of EC campaigns is positively related to IC and significantly and positively related to the number of connections the EC platforms have.

Practical implications

The positive relationship between the hub role of social network platforms and the success of EC campaigns provides an important signal to crowdfunding operators. As more potential investors focus on an EC campaign, a bandwagon effect could involve uninformed investors. This result is crucial in order to better understand how social media activity affects crowdfunding success.

Originality/value

Although the literature has examined the impact of KS on general firm performance and the mediating role of intellectual capital, no prior studies have examined the impacts of KS and IC on the success rate of EC campaigns in a specific market.

Details

Journal of Intellectual Capital, vol. 22 no. 1
Type: Research Article
ISSN: 1469-1930

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Book part
Publication date: 28 August 2020

Simona Leonelli, Francesca Di Pietro and Francesca Masciarelli

Crowdfunding campaigns reflect the personality traits of the entrepreneur, influencing the chances of a successful fundraising. In this study, the authors focus on three…

Abstract

Crowdfunding campaigns reflect the personality traits of the entrepreneur, influencing the chances of a successful fundraising. In this study, the authors focus on three different entrepreneurs’ personality dark traits: narcissism, Machiavellianism and psychopathy. Through a text analysis of 338 equity-crowdfunding campaigns in the UK, the authors identified narcissistic expressions used by entrepreneurs in their pitches, and their impact on funding success. The authors found an inverted U-shape relationship between entrepreneurs’ narcissism and the crowdfunding success. On the other hand, entrepreneurs’ psychopathy has a negative linear relationship with crowdfunding success. This study contributes to the entrepreneurship literature, highlighting the importance of displayed entrepreneurs’ personality traits in engaging with crowd investors.

Details

The Entrepreneurial Behaviour: Unveiling the cognitive and emotional aspect of entrepreneurship
Type: Book
ISBN: 978-1-78973-508-6

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Article
Publication date: 22 March 2019

Kalanit Efrat, Shaked Gilboa and Arie Sherman

Recent research has addressed the marketing aspects incorporated in crowdfunding activity, establishing their relevance to campaign success. In line with this, research…

Abstract

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.

Details

Baltic Journal of Management, vol. 15 no. 2
Type: Research Article
ISSN: 1746-5265

Keywords

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Article
Publication date: 15 December 2020

Katarzyna Prędkiewicz and Olga Kalinowska-Beszczyńska

This research identifies and explains the key factors influencing the success of crowdfunding campaigns for eco-projects with the objective of detecting the types of…

Abstract

Purpose

This research identifies and explains the key factors influencing the success of crowdfunding campaigns for eco-projects with the objective of detecting the types of eco-projects that may be most successful in raising funds.

Design/methodology/approach

The authors examined over 100 crowdfunding platforms (donation, reward and equity types) and selected 41 active eco-projects for further analysis. Data were collected from the selected platforms on ongoing and historical campaigns. The final sample was derived from observations of 139 eco-projects across 11 reward-based crowdfunding platforms. Logit models on variables related to the type of eco-innovation and characteristics of the campaign were used.

Findings

The results suggest that if they are treated as homogenous group eco-projects, they are no different than other types of projects present on a crowdfunding platform. However, variations are observed when they are divided into subcategories. The authors confirm that updates (positive), comments (positive) and targeted amount (negative) have the strongest impact on the success rate of crowdfunding for eco-projects. The authors observed a higher probability of success for projects aimed at saving water resources. Moreover, the findings suggest that emotional narratives do not increase chances of success for crowdfunding of eco-projects.

Originality/value

The authors aim to contribute to the ongoing discussion on whether there is a positive relationship between environmentally focused projects and the success rate. Providing a better understanding of the factors impacting the success rate of eco-projects should help future campaigns' success, contributing to a sustainable society.

Details

International Journal of Entrepreneurial Behavior & Research, vol. 27 no. 2
Type: Research Article
ISSN: 1355-2554

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Book part
Publication date: 30 July 2018

Abstract

Details

Marketing Management in Turkey
Type: Book
ISBN: 978-1-78714-558-0

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Article
Publication date: 27 July 2020

Lafaiet Silva, Nádia Félix Silva and Thierson Rosa

This study aims to analyze Kickstarter data along with social media data from a data mining perspective. Kickstarter is a crowdfunding financing plataform and is a form of…

Abstract

Purpose

This study aims to analyze Kickstarter data along with social media data from a data mining perspective. Kickstarter is a crowdfunding financing plataform and is a form of fundraising and is increasingly being adopted as a source for achieving the viability of projects. Despite its importance and adoption growth, the success rate of crowdfunding campaigns was 47% in 2017, and it has decreased over the years. A way of increasing the chances of success of campaigns would be to predict, by using machine learning techniques, if a campaign would be successful. By applying classification models, it is possible to estimate if whether or not a campaign will achieve success, and by applying regression models, the authors can forecast the amount of money to be funded.

Design/methodology/approach

The authors propose a solution in two phases, namely, launching and campaigning. As a result, models better suited for each point in time of a campaign life cycle.

Findings

The authors produced a static predictor capable of classifying the campaigns with an accuracy of 71%. The regression method for phase one achieved a 6.45 of root mean squared error. The dynamic classifier was able to achieve 85% of accuracy before 10% of campaign duration, the equivalent of 3 days, given a campaign with 30 days of length. At this same period time, it was able to achieve a forecasting performance of 2.5 of root mean squared error.

Originality/value

The authors carry out this research presenting the results with a set of real data from a crowdfunding platform. The results are discussed according to the existing literature. This provides a comprehensive review, detailing important research instructions for advancing this field of literature.

Details

International Journal of Web Information Systems, vol. 16 no. 4
Type: Research Article
ISSN: 1744-0084

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Article
Publication date: 17 September 2020

Sunghan Ryu and Ayoung Suh

This study examines how individual contributors' evaluation of the two aspects in reward-based crowdfunding—service and community—influences the formation of platform…

Abstract

Purpose

This study examines how individual contributors' evaluation of the two aspects in reward-based crowdfunding—service and community—influences the formation of platform loyalty. It also seeks to determine the conditions under which the evaluation is positive.

Design/methodology/approach

We collaborated for data collection with two reward-based crowdfunding platforms in South Korea that primarily promote crowdfunding campaigns in the creative domains. We combined the survey data collected from 578 contributors and campaign data from the platforms, empirically examining the formation of platform loyalty and its antecedents.

Findings

The results suggest that service satisfaction with a platform and a sense of belonging to it are positively associated with platform loyalty. We also found that an individual contributor's self-image congruence with the crowdfunding platform is positively associated with service satisfaction and a sense of belonging, while the experience of greater campaign success moderates the relationship in different ways.

Research limitations/implications

This study contributes to the crowdfunding literature by establishing a theoretical background for understanding reward-based crowdfunding platforms, which combine service and community. It also extends the scope of the literature on crowdfunding by examining the role of platform loyalty at the platform level.

Practical implications

The results suggest that service and community are both critical for building a sustainable crowdfunding platform. Platform operators are expected to provide high-quality services and foster a sense of community. Identifying and developing contributors with higher self-image congruence with the platforms is essential.

Originality/value

While previous literature on reward-based crowdfunding has focused on individual contributor- and campaign-level analyses, platform-level knowledge is lacking. This study is among the first to focus on platform loyalty of individual contributors toward reward-based crowdfunding platforms. Moreover, we use both individual-level perception and campaign-level performance variables to examine the formation of platform loyalty.

Details

Internet Research, vol. 31 no. 1
Type: Research Article
ISSN: 1066-2243

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Article
Publication date: 18 November 2019

Liang Zhao and Zhe Sun

Despite the growing research exploring the possibility and feasibility of financing socially oriented projects through crowdfunding, relatively little research examines…

Abstract

Purpose

Despite the growing research exploring the possibility and feasibility of financing socially oriented projects through crowdfunding, relatively little research examines which crowdfunding model is better to serve such purpose. The purpose of this paper is to offer novel insights to mitigate this research gap.

Design/methodology/approach

A unique data set collected from the largest Chinese crowdfunding platform is used to test the hypotheses. To solve the perceived self-selection problem, the propensity score matching method is adopted in this paper. Based on this approach, the results of similar prosocial campaigns in two different models (pure donation and hybrid donation) are compared.

Findings

The empirical results show that the hybrid donation model is negatively associated with the status of success and the extent of success of prosocial campaigns. Specifically, compared to the pure donation model, hybrid donation model leads to a lower probability of success, fewer contributors, a lower funding amount and a lower completion ratio.

Originality/value

The paper contributes to a relatively understudied theme in crowdfunding, namely, donations. It does so by introducing the concepts of pure vs hybrid donation models and investigates the model selection problem in financing social projects through crowdfunding based on cognitive evaluation theory.

Details

Baltic Journal of Management, vol. 15 no. 2
Type: Research Article
ISSN: 1746-5265

Keywords

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