The Power of Conversation: Analyzing the Impact of Starter Response on Backer Accumulation in Crowdfunding

Practice-oriented abstract This study investigates how actively engaging potential backers through timely responses in campaign discussion boards influences fundraising success on reward-based crowdfunding platforms. Our findings reveal several critical implications. First, responses from campaign starters significantly attract new contributors. Second, starter response amplifies the “herding effect,” where the number of pledged backers attracts more new backers. Last, although achieving funding goals typically reduces momentum, we find that ongoing engagement via active response to backer comments mitigates this decline and sustains backer interest. Practically, fundraisers should actively manage discussions to signal trustworthiness, commitment, and manage expectations. Platforms can enhance communication effectiveness by summarizing key discussion sentiments, highlighting frequent topics, and integrating tools like live chat to foster efficient real-time communication. Adopting these practices can significantly enhance crowdfunding effectiveness and sustainability.

• 저널Information Systems Research · 37(1) · 378–397
• 토픽FinTech, Crowdfunding, Digital Finance · Management Information Systems
• DOI10.1287/isre.2021.0612
• 저자Haoyan Sun, Weijia You, Junchao Li, Han Zhang