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Strategies for reward-based crowdfunding campaigns
- Source :
- Journal of Innovation & Knowledge, Vol 1, Iss 1, Pp 13-23 (2016), Kraus, S, Richter, C, Brem, A, Chang, M-L & Cheng, C-F 2016, ' Strategies for reward-based crowdfunding campaigns ', Journal of Innovation & Knowledge, vol. 1, no. 1, pp. 13-23 . https://doi.org/10.1016/j.jik.2016.01.010
- Publication Year :
- 2016
- Publisher :
- Elsevier, 2016.
-
Abstract
- Crowdfunding represents an alternative way of funding entrepreneurial ventures – and is attracting a high amount of interest in research as well as practice. Against this background, this paper analyzes reward-based crowdfunding campaign strategies and their communication tools. To do this, 446 crowdfunding projects were gathered and empirically analyzed. Three different paths of successful crowdfunding projects could be identified and are described in detail. Practical implications of crowdfunding strategies are derived, and are dependent on the required sales effort and the project added value. The terms communicator, networker and self-runner are created for this crowdfunding strategy and filled with practical examples. This paper contributes to the literature in different ways: first, it sheds more light on the developing concept of crowdfunding, with an overview of current academic discussions on crowdfunding. Furthermore, the analysis of success factors for crowdfunding initiatives adds to an emerging area of research and allows entrepreneurs to extract best practice examples for increasing the probability of successful crowdfunding projects under consideration of the key influencing factors of communication.
- Subjects :
- Economics and Econometrics
Engineering
Alemania
Best practice
Success factors
O03
Basado en la recompensa
Factores de éxito
Management of Technology and Innovation
Germany
ddc:650
0502 economics and business
lcsh:AZ20-999
Added value
fsQCA
Business and International Management
Marketing
lcsh:Social sciences (General)
Practical implications
O31
O32
M13
business.industry
Communication
05 social sciences
Reward-based
lcsh:History of scholarship and learning. The humanities
Key (cryptography)
050211 marketing
lcsh:H1-99
Comunicación
business
Crowdfunding
050203 business & management
Subjects
Details
- Language :
- English
- Volume :
- 1
- Issue :
- 1
- Database :
- OpenAIRE
- Journal :
- Journal of Innovation & Knowledge
- Accession number :
- edsair.doi.dedup.....3357ba37ab77efe37435dea6a711e299