Understanding Backers' Motivations and Perceptions of Information on Product-Based Crowdfunding Platforms

Abstract

This study explores the motives that influence people to serve as backers for campaign projects, particularly product-related projects. This study endeavored to further understand backers' perceptions and ratings of information on crowdfunding platforms. An online questionnaire survey was used to collect data. A total of 151 participants who had backed one or more product-based crowdfunding campaigns were recruited. Findings of this study reveal that five relevant funding motivations-involvement, interest, playfulness, philanthropy, and reward-and identified three types of crowdfunding sponsors: high-involvement backer, angelic backer, and pragmatic backer. Based on the results of this study, information provided by crowdfunding platforms can be classified into five categories: introduction, endorsement, reward, communication, and execution. The three types of backers all considered product introduction crucial in influencing their intention to back a project. The implications and suggestions for launching a crowdfunding project are discussed at the end of the paper.