Journal
CALIFORNIA MANAGEMENT REVIEW
Volume 58, Issue 2, Pages 88-110Publisher
SAGE PUBLICATIONS INC
DOI: 10.1525/cmr.2016.58.2.88
Keywords
Reward-Based Crowdfunding; Rewards; Strategic Toolbox; Management Strategies
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Funding
- Internet Foundation Austria (IPA)
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In crowdfunding, rewards can make or break success. Yet reward design, choice, and planning still occur based on availability rather than strategy. To address this challenge, this article provides an empirically derived crowdfunding reward toolbox offering guidance in strategically selecting rewards. Based on a large-scale analysis of successful and unsuccessful Kickstarter projects, this article classifies rewards that are currently offered along eight dimensions. It identifies emerging patterns and derives five strategic core tools and two add-on tools. Finally, it delivers exploratory insights into the relative effectiveness of different tools that can facilitate decision making and strategic planning for entrepreneurs and individuals who plan to launch a crowdfunding project and who seek ways to reward their supporters.
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