The time-varying effects of rhetorical signals in crowdfunding campaigns

As crowdfunding success relies heavily on designing campaigns that attempt to influence potential backers within a fixed time frame, this study leverages signaling theory to explore the time-varying direct and interactive effects of rhetorical (i.e., emotional tone, cognitive tone, communal language...

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Bibliographic Details
Published in:Journal of the Academy of Marketing Science 2024-03, Vol.52 (2), p.370-398
Main Authors: Moradi, Masoud, Dass, Mayukh, Arnett, Dennis, Badrinarayanan, Vishag
Format: Article
Language:English
Subjects:
Advertising campaigns
Business and Management
Crowdfunding
Data analysis
Linguistics
Marketing
Original Empirical Research
Rhetoric
Social Sciences
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Summary:As crowdfunding success relies heavily on designing campaigns that attempt to influence potential backers within a fixed time frame, this study leverages signaling theory to explore the time-varying direct and interactive effects of rhetorical (i.e., emotional tone, cognitive tone, communal language style, and linguistic style match) and substantive (i.e., backer support) signals employed in project descriptions on funding formation. Using linguistic inquiry and word count (LIWC) and functional data analysis (FDA), we analyze data on 1245 projects from a rewards-based crowdfunding platform (Kickstarter) and demonstrate that (a) the four rhetorical signals are positively related to funding formation, (b) emotional and cognitive tone exert stronger effects in early phases of projects, whereas linguistic style match and communal language style exert stronger effects in later phases, and (c) the dynamic effects of rhetorical signals on funding formation are greater when the number of backers increases. We conclude with implications for crowdfunding research and insights for improving campaign success.
ISSN:0092-0703
1552-7824
DOI:10.1007/s11747-023-00943-5