Making the World a Better Place: How Crowdfunding Increases Consumer Demand for Social-Good Products

Simpson, Bonnie; Schreier, Martin; Bitterl, Sally; White, Katherine

doi:10.1177/0022243720970445

Cited by 30 publications

(26 citation statements)

References 65 publications

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“…Pre-sales, opinion leaders, project ambassadors, and the overall peer effect can all be used to signal consistency. Since engagement with the public can create empathy and confidence through an impression of authenticity and openness, the project becomes more popular (Brown et al 2017;Simpson et al 2021). Crowdfunding is a strategy for being financially self-sufficient without relying on banks or business angels, and it can be thought of as a type of bootstrap financing for start-ups.…”

Section: Criteria and Sub Criteriamentioning

confidence: 99%

Prioritising crowdfunding benefits: a fuzzy-AHP approach

et al. 2022

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The current research aims to explore and prioritize the key benefits that influence the acceptance of crowdfunding as a fund-raising tool, either directly or indirectly. The study utilized a multidisciplinary approach to find out the varied benefits of crowdfunding. The study also prioritized the benefits by applying the buckley fuzzy-AHP technique. The results indicate the various benefits of crowdfunding. The study's results suggest fund-raising (FR), venture viability (VV), cost structure (CS), customer relationships (CR), demand building (DB), general strategy (GS), market intelligence (MI), personal sphere (PS), business ecosystem (BE), team development (TD) and product lifecycle (PL) are the benefits associated with the crowdfunding process. The findings also suggest that the topmost benefit of crowdfunding is FR. But our study has not categorized the benefits according to different types of crowdfunding, and the study's findings cannot be generalized as the study was conducted in India. The study highlighted the critical financial and non-financial benefits of crowdfunding which can help the entrepreneurs to have more insightful knowledge of the potential benefits of crowdfunding. Studying the financial and non-financial benefits of crowdfunding can further help the entrepreneurs utilize crowdfunding platforms, depending on the need, to provide the right solution to their requirements. This research is the first study to apply the buckley fuzzy-AHP technique to prioritize the multidisciplinary benefits of crowdfunding, thereby widening the knowledge base of academicians and entrepreneurs.

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Section: Criteria and Sub Criteriamentioning

confidence: 99%

Prioritising crowdfunding benefits: a fuzzy-AHP approach

et al. 2022

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“…Self-construal is characterized by viewing the self as interconnected with others (i.e., interdependent self-construal) or separate from others (i.e., independent selfconstrual; Markus & Kitayama, 1991). These two distinct ways of viewing oneself can be measured as a state (e.g., "At this moment, I am focused on myself/At this moment, I am focused on others"; Chang & Hung, 2018;Hamilton & Biehal, 2005;Simpson et al, 2021).…”

Section: Studymentioning

confidence: 99%

“…We used the same satisfaction scale as in Study 1 (α = 0.91; M = 5.41, SD = 1.35). Interdependent self-construal was measured as a state using a 4-item, 7-point bipolar scale (higher scores indicate higher interdependent self-construal; Simpson et al, 2021; α = 0.82; M = 3.95, SD = 1.38; see Web Appendix C). All measures confirmed adequate levels of reliability (Nunnally, 1994) and convergent validity (AVE service performance = 0.73; AVE self-construal = 0.55; Hair et al, 2010).…”

Section: Measures and Manipulation Checksmentioning

confidence: 99%

“…Self‐construal is characterized by viewing the self as interconnected with others (i.e., interdependent self‐construal) or separate from others (i.e., independent self‐construal; Markus & Kitayama, 1991). These two distinct ways of viewing oneself can be measured as a state (e.g., “At this moment, I am focused on myself/At this moment, I am focused on others”; Chang & Hung, 2018; Hamilton & Biehal, 2005; Simpson et al, 2021). We posit that the inherent ambiguity of inauthenticity results in a search for cues that amplify the effect of contextual factors, which, in the case of choice restrictions, changes customers’ self‐construal.…”

Section: Studymentioning

confidence: 99%

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Fake smiles. Customer reactions to employees’ display inauthenticity and choice restrictions

Pham

Lechner

Mathmann

2022

Psychology and Marketing

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Frontline employees’ fake smiles (i.e., positive emotion display inauthenticity) frequently occur despite firms’ efforts to ensure real smiles in service delivery. Previous research on the effects of display inauthenticity on customers reveals considerable heterogeneity. Attempts to resolve this have largely been limited to stable and dispositional factors, which often escape managerial control. The present research investigates the impacts of display inauthenticity, choice restrictions, and their interaction on service performance. Choice restrictions may buffer inauthenticity effects as demonstrated by results from three factorial experiments in different contexts (e.g., restrictions of service provider choice in predelivery in Study 1 and in‐store choice restrictions during service delivery in Studies 2 and 3). Frontline employees’ display inauthenticity negatively affects service performance only if customers are subjected to low but not high choice restrictions. The interaction effect is explained by customers’ interdependent self‐construal and is generalizable to actual spending behaviors. Our findings inform managers about the interplay of increasingly common inauthenticity and choice restrictions due to market shocks such as COVID‐19 and provide insights into managerial interventions that can be used to mitigate the effects of inauthenticity on customers.

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“…While marketing scholars have been growingly studying crowdfunding topics, crowdfunding video content has not been purposively analyzed. Recent studies are the implementation of equity crowdfunding in the record industry (Gamble, 2019), the founder’s product and pricing decisions (Hu et al , 2015), crowdfunding in relation to consumer investors’ timing decisions (Zvilichovsky et al , 2018; Kim et al , 2020), consumers’ prosocial motivation (Dai and Zhang, 2019), consumer preferences for social-good products (Simpson et al , 2020) and consumer protections from false price advertising claims in crowdfunding campaigns (Blaseg et al , 2020).…”

Section: Literaturementioning

confidence: 99%

Predicting crowdfunding success with visuals and speech in video ads and text ads

Al-Qershi

Kwon

Zhao

et al. 2022

EJM

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Purpose For the case of many content features, This paper aims to investigate which content features in video and text ads more contribute to accurately predicting the success of crowdfunding by comparing prediction models. Design/methodology/approach With 1,368 features extracted from 15,195 Kickstarter campaigns in the USA, the authors compare base models such as logistic regression (LR) with tree-based homogeneous ensembles such as eXtreme gradient boosting (XGBoost) and heterogeneous ensembles such as XGBoost + LR. Findings XGBoost shows higher prediction accuracy than LR (82% vs 69%), in contrast to the findings of a previous relevant study. Regarding important content features, humans (e.g. founders) are more important than visual objects (e.g. products). In both spoken and written language, words related to experience (e.g. eat) or perception (e.g. hear) are more important than cognitive (e.g. causation) words. In addition, a focus on the future is more important than a present or past time orientation. Speech aids (see and compare) to complement visual content are also effective and positive tone matters in speech. Research limitations/implications This research makes theoretical contributions by finding more important visuals (human) and language features (experience, perception and future time). Also, in a multimodal context, complementary cues (e.g. speech aids) across different modalities help. Furthermore, the noncontent parts of speech such as positive “tone” or pace of speech are important. Practical implications Founders are encouraged to assess and revise the content of their video or text ads as well as their basic campaign features (e.g. goal, duration and reward) before they launch their campaigns. Next, overly complex ensembles may suffer from overfitting problems. In practice, model validation using unseen data is recommended. Originality/value Rather than reducing the number of content feature dimensions (Kaminski and Hopp, 2020), by enabling advanced prediction models to accommodate many contents features, prediction accuracy rises substantially.

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Making the World a Better Place: How Crowdfunding Increases Consumer Demand for Social-Good Products

Cited by 30 publications

References 65 publications

Prioritising crowdfunding benefits: a fuzzy-AHP approach

Prioritising crowdfunding benefits: a fuzzy-AHP approach

Fake smiles. Customer reactions to employees’ display inauthenticity and choice restrictions

Predicting crowdfunding success with visuals and speech in video ads and text ads

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