Backer Motivation in Crowdfunding New Product Ideas: Is It about You or Is It about Me?

Zhang, Haisu; Chen, Weizhi

doi:10.1111/jpim.12477

Cited by 89 publications

(85 citation statements)

References 66 publications

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“…However, in charitable crowdfunding, there are no tangible returns for donors, and economic rewards are unlikely to be the main motive. Intrinsic motivations, including interest, playfulness, helping others, enjoyment, and a sense of belonging, are fully discussed in the literature on rewardbased crowdfunding, but empirical evidence based on surveys is rare (Zhang and Chen, 2019). Some studies offer contradictory findings about the relationship between intrinsic motivations and investment decisions in the case of different projects.…”

Section: Previous Research On Charitable Crowdfundingmentioning

confidence: 99%

Why Do People Support Online Crowdfunding Charities? A Case Study From China

et al. 2021

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Whereas the effect of people’s motivations to give to traditional, off-line charities has been extensively investigated, their motivations to support online charitable crowdfunding projects are largely unexplored. The present study examines the influences of extrinsic motivations (such as reputation, the wish to signal a certain image; and reciprocity, the expectation on future return for their present contribution), intrinsic motivations (such as a sense of belonging, the feeling of belonging to an integral part of a positive community; joy of giving, the anticipated positive emotions experienced by helping others; altruism, intrinsic desire to help others without expectation of a return; and financial constraints, individuals’ personally felt financial stresses induced by donations), and social interactions (such as social influence, people’s perception of how their close acquaintances believe they should support the project; and social ties, the strength of the relationship between the individual and the project initiator) on intentions to support charitable crowdfunding behaviors, namely, the willingness to share (WTS) project information and the intention to donate (ITD) money. Hierarchical multiple regression analyses on self-reported survey data from 617 respondents in China reveal support for the hypotheses. The results show that intrinsic motivations and social ties are predictors for both supporting behaviors. Reputation and social influence motivate people to share projects, but have no significant effects on their ITD. Reciprocity is positively, and financial constraints are negatively, related to ITD but have no significant effects on WTS. These findings offer insights into the motivations driving individuals’ participation in charitable crowdfunding. The implications for both platforms and fundraisers are discussed.

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Section: Previous Research On Charitable Crowdfundingmentioning

confidence: 99%

Why Do People Support Online Crowdfunding Charities? A Case Study From China

et al. 2021

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“…Thanks to its wide appeal and acceptance, this classification has also been employed in earlier crowdfunding literature (e.g. Gerber and Hui 2013;Wang et al 2019;Zhang and Chen 2019).…”

Section: Motivation In Charitable Givingmentioning

confidence: 99%

Donation Crowdfunding: Principles and Donor Behaviour

Zhao

Shneor

2020

Advances in Crowdfunding

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Donation crowdfunding is a form of internet-enabled fundraising where backers provide funding based on philanthropic motivations without expectation of monetary or material rewards. Despite accounting for only a marginal share of global crowdfunding volumes, donation crowdfunding is a unique model for supporting a wide range of prosocial and charitable causes, while allowing fundraisers to leverage benefits afforded by ICT solutions for more effective and efficient fundraising. The chapter provides an overview of the limited research on donation crowdfunding while highlighting donor motivations and behaviour, as well as drivers of success in donation campaigns. We find that current research suggests that donation behaviour is driven by impure altruism closely linked to intrinsic motivations such as satisfaction, joy, and a sense of belonging. Furthermore, several success drivers of donation crowdfunding campaigns have been identified with respect to factors at the fundraiser, campaign, and platform levels.

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“…Research has identified key factors and definitions related to this phenomenon, including crowd, project creator (funding requester or fundraiser), and platform [ 21 , 27 , 28 , 30 - 35 ]. Some researchers suggest that a comprehensive deﬁnition of crowdfunding should include these elements as well as how each relates to or impacts others [ 21 , 34 ].…”

Section: Introductionmentioning

confidence: 99%

“…Microfinancing and crowdsourcing deﬁnitions have adopted a general conceptualization of crowdfunding [ 21 , 26 , 29 , 32 , 33 , 36 - 39 ]. The scope extends to both commercial and noncommercial forms of crowdfunding [ 14 , 21 , 27 , 35 , 40 ]. For example, Paschen [ 26 ] defined crowdfunding as “the outsourcing of an organizational function, through information technology, to a strategically deﬁned network of actors (ie, the crowd) in the form of an open call speciﬁcally, requesting monetary contributions toward a commercial or social business goal.” The objective of crowdfunding is that a crowd provides the “ﬁnancial resources either in form of donation or in exchange for some form of reward and/or voting rights to support initiatives for speciﬁc purposes” [ 41 ].…”

Section: Introductionmentioning

confidence: 99%

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Understanding the Dimensions of Medical Crowdfunding: A Visual Analytics Approach

Ren¹,

Raghupathi²,

Raghupathi³

2020

J Med Internet Res

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Background Medical crowdfunding has emerged as a growing field for fundraising opportunities. Some environmental trends have driven the emergence of campaigns to raise funds for medical care. These trends include lack of medical insurance, economic backlash following the 2008 financial collapse, and shortcomings of health care regulations. Objective Research regarding crowdfunding campaign use, reasons, and effects on the provision of medical care and individual relationships in health systems is limited. This study aimed to explore the nature and dimensions of the phenomenon of medical crowdfunding using a visual analytics approach and data crawled from the GoFundMe crowdfunding platform in 2019. We aimed to explore and identify the factors that contribute to a successful campaign. Methods This data-driven study used a visual analytics approach. It focused on descriptive analytics to obtain a panoramic insight into medical projects funded through the GoFundMe crowdfunding platform. Results This study highlighted the relevance of positioning the campaign for fundraising. In terms of motivating donors, it appears that people are typically more generous in contributing to campaigns for children rather than those for adults. The results emphasized the differing dynamics that a picture posted in the campaign brings to the potential for medical crowdfunding. In terms of donor’s motivation, the results show that a picture depicting the pediatric patient by himself or herself is the most effective. In addition, a picture depicting the current medical condition of the patient as severe is more effective than one depicting relative normalcy in the condition. This study also drew attention to the optimum length of the title. Finally, an interesting trend in the trajectory of donations is that the average amount of a donation decreases with an increase in the number of donors. This indicates that the first donors tend to be the most generous. Conclusions This study examines the relationship between social media, the characteristics of a campaign, and the potential for fundraising. Its analysis of medical crowdfunding campaigns across the states offers a window into the status of the country’s health care affordability. This study shows the nurturing role that social media can play in the domain of medical crowdfunding. In addition, it discusses the drivers of a successful fundraising campaign with respect to the GoFundMe platform.

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Backer Motivation in Crowdfunding New Product Ideas: Is It about You or Is It about Me?

Cited by 89 publications

References 66 publications

Why Do People Support Online Crowdfunding Charities? A Case Study From China

Why Do People Support Online Crowdfunding Charities? A Case Study From China

Donation Crowdfunding: Principles and Donor Behaviour

Understanding the Dimensions of Medical Crowdfunding: A Visual Analytics Approach

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