The relationship between brand constructs and motivational patterns in crowdfunding decisions. Evidence from university crowdfunding

Abstract

Purpose This study aims to expand the existing body of knowledge on crowdfunding (CF) motivational patterns with special reference to intangible factors, which most scholars assume to be the most important ones, especially in non-investment-based CF. The purpose is to understand how the presence of an established brand in a CF campaign can affect backers’ funding choices and the reasons behind them. To this end, the authors combine principles from identification, brand relationship and self-determination theories. Design/methodology/approach The authors considered the (altruistic in nature) domain of CF for social causes as the most widespread type of branded CF and chose the relevant empirical setting of “research CF” run by universities which seem to be more and more interested in connecting branding and fundraising efforts through the active involvement of their “relational circles”. Accordingly, the authors surveyed an extensive sample of students as a primary stakeholder group of potentially engaged backers from one of the first Italian universities to launch a CF program and used structural equation modelling to test the research hypotheses. Findings The authors found that, despite the CF domain considered, the choices made by backers (counterintuitively, women, in particular) manifest themselves as mostly self-oriented. This is partly explained by brand identification, which fully mediates the effect of brand pride and partially mediates the effect of brand respect (BR) on funding intention. Moreover, BR also directly drives CF choices. Originality/value This study portrays a remarkably different CF playground compared with conventional campaigns for both project proponents and backers with several theoretical and managerial implications.

A brand prominence perspective on crowdfunding success for aftermarket offerings: the role of textual and visual brand elements

“…Stronger consumer engagement is seen for recognizable brands across studies on crowdsourced product innovation (Herter et al, 2023) and cocreation (Chen et al, 2022;Nawaz et al, 2023). Similarly, prior research has shown that potential backers are more likely to support campaigns when they are familiar with the featured brand (Fortezza et al, 2023). Third, brand prominence enhances a campaign's success by increasing its online reach and visibility (Chen et al, 2016).…”

The Antecedents and Consequences Pertaining to the Intention to Engage in Philanthropic Activities

“…The concept of brand holds significant importance in relation to the products and services that are being provided. Brands serve as visual representations of companies, enabling consumers to identify and distinguish the items or services they offer (Fortezza et al, 2022).…”

“…In light of this existing body of research, the present study aims to delve deeper into this influence and explore its effects on individuals' intentions to participate in philanthropic endeavours. Trust plays a significant role in the realm of marketing as it serves as a crucial element in facilitating sales and fostering positive relationships between customers and sellers (Fortezza et al, 2022). Multiple scholarly investigations have examined the concept of brand trust, revealing that both confidence in technology and trust in the institution itself exert a noteworthy influence on prospective donors seeking to provide financial support (Lee, 2022).…”

“…In addition, this study will examine the aspect of brand choice, which plays a crucial role in understanding how donors impact funding decisions and select specific institutions (Nosi et al, 2021). Too far, scholarly attention in the field of brand theory has predominantly been around profit-oriented institutions, with less emphasis on non-profit organisations (Bilgin & Kethüda, 2022;Fortezza et al, 2022;Y. Huang et al, 2022;Nosi et al, 2021).…”

Brand crowdfunding using followers boosted through gamification affordances: insights from two emerging markets

“…Established brands indulge in crowdfunding (O’Donnell, 2022) mostly due to the abundance of communities of backers, which, by engaging with them, allow brands to reach a large number of people (Lukkarinen et al , 2016). Exploring new aspects of crowdfunding for established brands and better understanding its effects on brands and backers’ motivational factors is thus critical (Fortezza et al , 2022).…”