How multimedia shape crowdfunding outcomes: The overshadowing effect of images and videos on text in campaign information

Yang, Jialiang; Li, Yaokuang; Calic, Goran; Shevchenko, Anton

doi:10.1016/j.jbusres.2020.05.008

Cited by 77 publications

(29 citation statements)

References 84 publications

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“…On the one hand, the video may have attracted people who would not have otherwise looked at the display. On the other hand, it might have competed for the attention of visitors, obscuring the effect of different poster conditions [ 43 ]. The latter could be particularly meaningful if the different visual conditions only had a small effect.…”

Section: Discussionmentioning

confidence: 99%

Picturing donations: Do images influence conservation fundraising?

et al. 2021

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Many environmental organizations use photographic images to engage donors and supporters. While images play a role in fundraising, visual framing remains understudied in the environmental field. Few real-world experiments have examined which types of images result in higher donations to biodiversity conservation. We examined the role of images in conservation fundraising through a public experiment at Zoomarine, a marine park located in southern Portugal. Zoomarine runs a program called Dolphin Emotions where visitors pay to learn about dolphin biology and to interact with dolphins. We placed a donation box and a large informational poster about the Marine Megafauna Foundation, a conservation partner, in the lounge of the Dolphin Emotions program, which is open to participants and their families. The text on the poster, which solicited donations for the Marine Megafauna Foundation, was held constant, while four different image conditions were tested: dolphins, ocean wildlife, children, and people staring out from the poster (i.e., “watching eyes”). Each image condition was displayed for three days at a time and was on display for at least seven randomly assigned three-day periods over the course of 91 days. 20,944 visitors passed the donation box and the four poster conditions during this time and a total of € 952.40 was collected. The differences in mean donations in € per visitor per 3-day period were not statistically significant, F(3, 25) = 0.745, p = 0.54. Thus, we did not find that different images had a significant influence on donations to conservation. This may be due to our choice of visual frames or to the use of a donation box, which is a passive fundraising channel. Future research should examine how visual framing influences donations in other public settings and should test the influence of other visual frames on philanthropic behavior.

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Section: Discussionmentioning

confidence: 99%

Picturing donations: Do images influence conservation fundraising?

et al. 2021

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“…Specifically, online information is usually conveyed on the platform website using images, videos, and textual description. Although images and videos also directly improve fundraising performance (Yang et al, 2020), textual description in entrepreneurial narratives plays an important role in the reward crowdfunding model because it contributes to ensuring that potential investors understand the value of the project (Cappa et al, 2020). In addition, entrepreneurial narratives are more crucial for the acquisition of financial resources through reward campaigns than through other crowdfunding models because of particular aspects related to potential backers of reward campaigns (Cappa et al, 2020).…”

Section: Theoretical Backgroundmentioning

confidence: 99%

Effective entrepreneurial narrative design in reward crowdfunding campaigns for social ventures

et al. 2022

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One of the most important challenges for social venture entrepreneurs is acquiring resources. Reward crowdfunding is considered a suitable tool for meeting the financing needs of social ventures, whose backers are particularly interested in firm ideas and core values rather than in collaterals or business plans. A strategic factor that is able to influence the outcome of crowdfunding campaigns is the entrepreneurial narrative. Very few scholars have examined the key factors that support a crowdfunding campaign, particularly those on reward-based crowdfunding platforms, and the effects of entrepreneurial narratives on investors' decisions. Aiming to fill this research gap, this paper investigates how entrepreneurs in the technology industry describe their social ventures and projects on Eppela, an Italian reward-based crowdfunding platform. Thematic analysis was applied to detect the five following key factors of effective entrepreneurial narratives in reward-based crowdfunding campaigns for social ventures: 1) problem/need; 2) project; 3) product; 4) team; and 5) venture. Each key factor includes specific subfactors. Lexical data analysis was then performed to identify the following expected effects of the examined entrepreneurial narratives on potential investors, leading these investors to understand, trust, and approve the project proposal, and thus, finance the social venture's project: 1) reassurance, 2) reliability, and 3) credibility. Based on these results, this study proposes an explanatory model about how to design effective entrepreneurial narratives to be presented to contribute as much as possible to the success of projects in crowdfunding platforms.

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“…Crowdfunding jest jedną z najmłodszych form pozyskiwania kapitału (J. Yang, Li, Calic i Shevchenko, 2020), ale już stanowi bardzo atrakcyjną alternatywę dla tradycyjnych źródeł finansowania (Manning i Bejarano, 2016). W dzisiejszej formie powstał on w USA w 2006 roku.…”

Section: Wstępunclassified

Crowdfunding z nagrodami

Bielicki¹

2021

Innowacje Finansowe W Gospodarce 4.0

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Crowdfunding has revolutionized the way projects get done. Reward-based crowdfunding is currently the most important and popular type of crowdfunding. It allows not only to raise capital, but also to engage the community to co-create products. The aim of this chapter is to present the way in which the most important national and international crowdfunding platforms operate. Both the most important elements of a campaign and the factors determining the likelihood of success are presented. Finally, the trends occurring on the market and directions of further development of this form of financing are presented.

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How multimedia shape crowdfunding outcomes: The overshadowing effect of images and videos on text in campaign information

Cited by 77 publications

References 84 publications

Picturing donations: Do images influence conservation fundraising?

Picturing donations: Do images influence conservation fundraising?

Effective entrepreneurial narrative design in reward crowdfunding campaigns for social ventures

Crowdfunding z nagrodami

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