The Right Time for Crowd Communication during Campaigns for Sustainable Success of Crowdfunding: Evidence from Kickstarter Platform

Ryoba, Michael J.; Qu, Shaojian; Ji, Ying; Qu, Deqiang

doi:10.3390/su12187642

Cited by 16 publications

(16 citation statements)

References 66 publications

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“…A total of 24 publicly available campaigns, mostly from the platforms Kickstarter (www.kickstarter.com (accessed on 15 January 2021); Ryoba et al 2020) and IndieGogo (www.indiegogo.com (accessed on 15 January 2021); Maryani and Udiono 2020), with a funding volume of more than 5 million USD were taken into consideration. The connection between crowdfunding and retail shall be highlighted and discussed in this manner.…”

Section: Research Resultsmentioning

confidence: 99%

“…It contributes to the discussion with the empirically based development of a theoretical framework and provides another example of how the grounded theory approach can be applied. The research done shows that crowdfunding for products and services, apart from the economic perspective, is tied to the idea of sustainability, given the feedback of the supporters, the close but open communication with the crowd, as well as the included willingness for change and adaptation by the campaign owners (Moritz et al 2015;Ryoba et al 2020).…”

Section: Discussionmentioning

confidence: 99%

See 1 more Smart Citation

Crowdsourcing in Sustainable Retail—A Theoretical Framework of Success Criteria

Konhäusner

2021

JRFM

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Current research about crowdsourcing covers industries like food systems or logistics, leaving out the possible impact of crowdsourcing on sustainable retail. The debate about the sustainable impact of different industries is ongoing, especially discussing the adaption to the Sustainable Development Goals of the United Nations critically. This paper examines the influence of crowdsourcing on the sustainable aspects of retailing by applying a theoretical derivation as well as an empirical observation. After theoretically discussing the linkage between crowdfunding as a crowdsourcing category and sustainable retail utilizing a literature review, a theoretical framework employing the grounded theory approach is constructed. A total of 24 crowdfunding campaigns aiming at the market introduction of new products or services, each worth over 5 million USD funding volume and run on international crowdfunding platforms, have been taken into consideration. The outcome of the analysis is a theoretical framework presenting three different categories, in which successful crowdfunding campaigns impacting sustainable retail excel: sustainable economic behavior, sustainable community management and sustainable market adaptation. The derived model contributes to the theoretical discussion about the impact of crowdfunding and assists practitioners in reflecting about their approach and goal setting prior to and while crowdfunding.

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Section: Research Resultsmentioning

confidence: 99%

Section: Discussionmentioning

confidence: 99%

Crowdsourcing in Sustainable Retail—A Theoretical Framework of Success Criteria

Konhäusner

2021

JRFM

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“…Besides, Stegmaier [39] (p. 45) indicates that three updates per week are ideal and beyond that is possibly too much. Ryoba et al [64] suggest a phased approach to communication where the number of updates needs to be the first priority in the beginning while later stages require polarity of comments and readability of updates becoming increasingly important. We, therefore, find overall that comments and updates, although they both are aspects of community engagement and in a sense are two sides of an ongoing conversation, play different roles that warrant additional research.…”

Section: Discussionmentioning

confidence: 99%

Community Support or Funding Amount: Actual Contribution of Reward-Based Crowdfunding to Market Success of Video Game Projects on Kickstarter

Aygoren

Koch

2021

Sustainability

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The research provides empirical evidence differentiating between market success and funding success in reward-based crowdfunding campaigns of video games and hypothesizes that the actual contribution of crowdfunding is more stemming from community support and feedback rather than funding amount. The paper uses publicly available data by combining three different sources. Project data from Kickstarter, a large crowdfunding website, in the video game category are extracted and matched with market success variables of ratings and revenues from two other public sources namely Metacritic and Steamspy. Regression results indicate that once the project is successfully funded, the funding amount does not have a significant effect on market success variables. On the other hand, the number of backers as a community support variable is a significant determinant of market success in terms of higher revenues and ratings for a project. Whether the project was successfully funded or not moderates some of the relationships. Prior literature is predominantly focused on crowdfunding success in terms of financing. Yet, this study empirically demonstrates that funding does not necessarily indicate that projects will be successful in the market and further shows the actual contribution of crowdfunding to the market success of video game projects is the community engagement, not the funding amount. This study contributes to the rapidly emerging crowdfunding literature by extending its boundaries from the crowdfunding platforms themselves to the differentiated effects of crowdfunding on market success, which has not been studied thoroughly. This paper provides a new avenue of research by suggesting not solely focusing on funding outcomes but understanding, defining and explaining the dynamics of the community aspect in crowdfunding platforms with their repercussions on market success. Future work can also highlight potential differences in these effects between product groups, as well as more holistically assess market success and capture interactions within the community on crowdfunding platforms.

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“…As stated by Belleflamme et al [ 35 ], a more extensive network of connections is significantly connected with unobservable project quality components; therefore, it serves as a signal. Several scholars [ 15 , 24 , 30 , 36 , 60 , 61 ] found that fundraisers who provide greater awareness through social interactions are considered an attribute of the effectiveness of the signal and predictors of campaign success.…”

Section: Literature Reviewmentioning

confidence: 99%

The Influence of Signals on Donation Crowdfunding Campaign Success during COVID-19 Crisis

Chiu

Mansumitrchai

et al. 2021

IJERPH

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In 2020, the coronavirus pandemic devasted public health agencies and the federal government across the world. Bridging the gap between underserved populations and the healthcare system, the donation-based crowdfunding campaign has opened a new way for suffering individuals and families to access broader social network platforms for financial and non-financial assistance. Despite the growing popularity of crowdfunding during the pandemic crisis, little research has explored the various signals that attract potential donors to donate. This study explores the effects of signaling theory on the success of a crowdfunding campaign for food relief launched in GoFundMe during which the United States was severely affected by the pandemic with a surged number of coronavirus infected cases from March 1st with 134 confirmed COVID-19 infected cases to July 29th with 4,295,308 infected cases according to World Health Organization. The following results show that the three different signal success measures are important to the success of crowdfunding campaigns: (1) signals originating from the campaign (Title, Description, Spelling Error, Location, and Picture); (2) signals originating from the fundraiser (Social Network, and Update); and (3) signals originating from the social interaction of the fundraiser with the crowd (Comment, Follower, and Share). These findings provide insight and bring additional knowledge contribution to the crowdfunding literature.

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The Right Time for Crowd Communication during Campaigns for Sustainable Success of Crowdfunding: Evidence from Kickstarter Platform

Cited by 16 publications

References 66 publications

Crowdsourcing in Sustainable Retail—A Theoretical Framework of Success Criteria

Crowdsourcing in Sustainable Retail—A Theoretical Framework of Success Criteria

Community Support or Funding Amount: Actual Contribution of Reward-Based Crowdfunding to Market Success of Video Game Projects on Kickstarter

The Influence of Signals on Donation Crowdfunding Campaign Success during COVID-19 Crisis

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