Increasing crowdfunding success through social media: The importance of reach and utilization in reward-based crowdfunding
Clauß T, Niemand T, Kraus S, Schnetzer P, Brem A (2020)
Publication Status: Accepted
Publication Type: Journal article
Future Publication Type: Journal article
Publication year: 2020
Journal
Book Volume: 24
Pages Range: 2050026
DOI: 10.1142/S1363919620500267
Abstract
The rising use of crowdfunding makes it important for project initiators to know how they can increase the likelihood of success of their crowdfunding campaign. The effects of using social media, although relatively easy to do via most crowdfunding platforms, have not yet been analyzed in greater detail in scientific research. We address this research gap by investigating the effects of social media reach and utilization on measures of reward-based crowdfunding success, based on an analysis of 230 projects from the crowdfunding platform wemakeit. Our results show that social media reach via the number of social media accounts that belong to the project and the number of accounts that belong to the project initiator increases the number of investors and the percentage of the funding goal that is obtained. Furthermore, social media reach via the size of the projects’ and the individuals’ social networks has not been found to be important for crowdfunding success. Social media utilization in regard to the amount of content shared is found to be positively associated with crowdfunding success.
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Involved external institutions
Liechtenstein (LI)
Germany (DE)How to cite
APA:
Clauß, T., Niemand, T., Kraus, S., Schnetzer, P., & Brem, A. (2020). Increasing crowdfunding success through social media: The importance of reach and utilization in reward-based crowdfunding. International Journal of Innovation Management, 24, 2050026. https://dx.doi.org/10.1142/S1363919620500267
MLA:
Clauß, Thomas, et al. "Increasing crowdfunding success through social media: The importance of reach and utilization in reward-based crowdfunding." International Journal of Innovation Management 24 (2020): 2050026.
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