Why do people do crowd-funding?

Alan Tudyk’s Con Man has set a new crowd-funding record on Kickstarter, raising over $3.1 Million from over 46,000 fans.

But Super Trooper 2 still has nine days to go and has already raised over $3.6 Million from over 39,000 funders.

Trying to make sense of it all?

Elizabeth Gerber and Julie Hui’s “Crowdfunding: Motivations and Deterrents for Participation” is the most scholarly exploration of crowd-funding I’ve seen.

They see Creator Motivations as:

  • Raise Funds
  • Expand Awareness of Work
  • Form Connections
  • Gain Approval
  • Maintain Control
  • Learn New Fundraising Skills

And Creator Deterrents as:

  • Inability to Attract Supporters
  • Fear of Public Failure and Exposure
  • Time and Resource Commitment

Supporter Motivations are:

  • Collect Rewards
  • Help Others
  • Be Part of A Community
  • Support A Cause

Whereas the main Supporter Deterrent is Distrust of Creators’ Use of Funds.

See her article in the Huffington Post and listen to her on NPR’s Marketplace.

My take: although the rewards appear irresistible, crowd-funding is a lot of work so do your research first.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.