Is talking about the future a curse or a blessing? The effects of future-focused message framing on fundraising performance
File(s)IEEE-TEM-Lin et al. 2019-Accepted Manuscript.pdf (477.66 KB)
Accepted version
Author(s)
Lin, Yu-Ting
Wang, Wanxin
Doong, Her-Sen
Type
Journal Article
Abstract
The growth of crowdfunding has attracted interest from academics and managers alike. Crowdfunders are consumers in the sense that they consume start-up ideas now and their outputs in the future. Given that a crowdfunding platform is almost the only channel for entrepreneurial marketers to interactively communicate with consumers, it is pivotal to study the effectiveness of campaign message design. Thus, the goals of this paper are, first, what impact does future-focused message framing have on seeking seed-stage finance when promoting novel ideas to retail investors who may become future consumers? Second, what are other factors that can be further combined as digital communication tools to effectively improve fundraising performance? We collected a dataset of 3361 reward-based crowdfunding campaigns on Kickstarter, the results of which show that a future-focused campaign has a negative impact on the amount of funds raised. In order to reduce such adverse effects on fundraising, campaigners’ extensive engagement is necessary especially when only a handful of reward options are available. This paper highlights the critical role of future focus in driving digital communication effectiveness and offers important implications for research and practice.
Date Issued
2021-08
Date Acceptance
2019-05-08
Citation
IEEE Transactions on Engineering Management, 2021, 68 (4), pp.970-981
ISSN
0018-9391
Publisher
Institute of Electrical and Electronics Engineers (IEEE)
Start Page
970
End Page
981
Journal / Book Title
IEEE Transactions on Engineering Management
Volume
68
Issue
4
Copyright Statement
© 2019 IEEE. Personal use of this material is permitted. Permission from IEEE must be obtained for all other uses, in any current or future media, including reprinting/republishing this material for advertising or promotional purposes, creating new collective works, for resale or redistribution to servers or lists, or reuse of any copyrighted component of this work in other works.
Identifier
https://ieeexplore.ieee.org/document/8750901
Subjects
Business & Management
08 Information and Computing Sciences
09 Engineering
15 Commerce, Management, Tourism and Services
Publication Status
Published
Date Publish Online
2019-06-28