Strategies for reward-based crowdfunding campaigns

Sascha Kraus, Christian Richter, Alexander Brem, M.-L. Chang, C.-F. Cheng

Publikation: Bidrag til tidsskriftTidsskriftartikelForskningpeer review

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Resumé

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 back- ground, 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 practi- cal 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 dis- cussions 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.
OriginalsprogEngelsk
TidsskriftJournal of Innovation & Knowledge
Vol/bind1
Udgave nummer1
Sider (fra-til)13-23
Antal sider10
ISSN2444-569X
DOI
StatusUdgivet - 2016

Fingeraftryk

Communication
Reward
Influencing factors
Entrepreneurial ventures
Added value
Entrepreneurs
Sales effort
Success factors
Best practice
Campaign strategy
Funding

Citer dette

Kraus, Sascha ; Richter, Christian ; Brem, Alexander ; Chang, M.-L. ; Cheng, C.-F. / Strategies for reward-based crowdfunding campaigns. I: Journal of Innovation & Knowledge. 2016 ; Bind 1, Nr. 1. s. 13-23.
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Strategies for reward-based crowdfunding campaigns. / Kraus, Sascha; Richter, Christian; Brem, Alexander; Chang, M.-L.; Cheng, C.-F.

I: Journal of Innovation & Knowledge, Bind 1, Nr. 1, 2016, s. 13-23.

Publikation: Bidrag til tidsskriftTidsskriftartikelForskningpeer review

TY - JOUR

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