Do social network crowds help fundraising campaigns? Effects of social influence on crowdfunding performance

Yang, Liu; Chen, Yuan; Fan, Zhi‐Ping

doi:10.1016/j.jbusres.2020.08.052

Cited by 43 publications

(30 citation statements)

References 50 publications

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“…Case studies promote the study and understanding of the phenomenon studied in a timely manner in a specific context but also in a social environment and a particular temporality. Our work could be extended to understand backer behaviour, home bias, and the role of different social networks vis‐à‐vis geographic attachment (Chung et al., 2021; Liu et al., 2021; Renault, 2018; Sorenson, 2018).…”

Section: Discussionmentioning

confidence: 99%

Geography and social network influence on crowdfunding a French microbrewery

et al. 2022

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The objective of this article is to explore the influence of home bias and the moderating role of social networks (and more particularly family and friends -F&F) in the crowdfunding of a microbrewery in a French region (a lucrative business that uses a territorial solidarity process). We have chosen the case study as methodology to show that neither home bias nor F&F have a significant influence on amounts paid by individuals in crowdfunding. The results are specific to the case studied and are comparable to those of social enterprise. They explain but also justify the behavioural diversity crowdfunding can induce.

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Section: Discussionmentioning

confidence: 99%

Geography and social network influence on crowdfunding a French microbrewery

et al. 2022

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“…Individual value, attitude and behaviour are essential to sustain the crowdfunding activities (Kim & Hall, 2021;Liu, Chen & Fan, 2021). The wisdom behind continuous charitable activities is due to love, care and hope (Yaman, 2008;Liu et al, 2020;Sarif, 2021).…”

Section: Findings and Discussionmentioning

confidence: 99%

Influence of Hikmah (Practical Wisdom) on Crowdfunding

Sarif¹,

Ismail²,

Zainudin³

2022

Selected Proceedings From the 1st International Conference on Contemporary Islamic Studies (ICIS 2021)

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Hikmah (practical wisdom) has been an outcome of ethical spiritual knowledge and discretion about abstract and uncertainty. The intensive sharing and engaging with many stakeholders enables the acquisition of hikmah (practical wisdom). Crowdfunding relies on trust and credibility of the crowd (wisdom of the crowd). The integration of practical wisdom and wisdom of the crowd provides synergy in crowdfunding. The influence of hikmah (practical wisdom) with wisdom of the crowd enhances trust and credibility. This study solicits the views of crowdfunding organizers through personal interviews on the hikmah (practical wisdom) experience. The informants argued that the influence of hikmah is in the reciprocal engagement with various individuals and members of civil societies. The informants also contended that hikmah found in the spirit of giving through the crowdfunding activities. The findings are limited to the context based on the insights of the informants. The future research should use a case study method for the influence of hikmah from multiple perspectives.

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“…They found that Facebook shares and comments and Twitter tweets had a significant effect on the number of backers but that these social media variables had weaker predictive power than the lagged number of backers. In a study conducted in China, Liu, Chen, and Fan (2021) found that the funding rate increases with the number of followers and post volume.…”

Section: Social Media and Crowdfundingmentioning

confidence: 99%

The Unanticipated Dynamics of Promoting Crowdfunding Donation Campaigns on Social Media

Dehdashti¹,

Namin²,

Ratchford³

et al. 2022

Journal of Interactive Marketing

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Crowdfunding is an online method of fundraising from a large audience. Digital Word of Mouth (DWOM) via social media has become a popular promotion platform for crowdfunding campaigns due to its negligible nominal cost. While one may expect that promoting these campaigns on social media may steadily increase donations, the exact dynamics of such promotions have not been studied for donation-based crowdfunding. We collect panel data on several unique donation campaigns from a major donation-based crowdfunding website (gofundme.com) and analyze them employing a variety of econometric techniques. We specifically provide empirical evidence that promoting crowdfunded charitable campaigns using social media follows three phases throughout a campaign's lifecycle. Our results indicate that the general pattern of behavior is the same for charitable campaigns as it is for reward-based campaigns. This suggests that the psychological motives outlined in the literature are important for both types of campaigns. Because the economic motives are not present, this finding would not be clearly anticipated. We show that the contributing role of social media in a campaign's success varies over time and that it is most helpful in the first ten days of initiating a campaign. We also provide preliminary evidence that promoting charitable campaigns on social media can lead to slacktivism, an unexpected consequence of using social media as a promotion tool resulting in less donations and more social media flurry. We also find that if a campaign does not reach at least 70 percent of its goal after twenty days since launch, it is not likely to be successful. Fundraisers and charitable marketers can use our findings in gauging the effectiveness of raising awareness about their campaigns in the online world. They could also streamline the timing of social media promotions to enhance their impact on collecting donations for charitable causes.

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Do social network crowds help fundraising campaigns? Effects of social influence on crowdfunding performance

Cited by 43 publications

References 50 publications

Geography and social network influence on crowdfunding a French microbrewery

Geography and social network influence on crowdfunding a French microbrewery

Influence of Hikmah (Practical Wisdom) on Crowdfunding

The Unanticipated Dynamics of Promoting Crowdfunding Donation Campaigns on Social Media

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