Emerging business entities such as freelancers and small enterprises often pre-launch their products on crowdfunding platforms as a crowdfunding project for seed funding. Moreover, success in funding-raising boosts confidence in the creator to mass produce their products and sell through traditional sales channels. The phenomenon of pre-order sales via crowdfunding platforms raises several interesting questions such as which factors influence success of a pre-order crowdfunding project. Multiple factors impact the success of a crowdfunding project including location, reward, language used, media richness, and general project characteristics. However, product description attributes such as clarity in problem specification, market differentiation (i.e., comparing with existing solutions), product innovation, product design, and extensiveness of product specification have not been well studied in terms of their role in project funding success. Our study explores the association between multiple product description attributes and funding success of reward-based projects on crowdfunding platforms.

Abstract Only