Crowdfunding as an Internet Tool Used for Establishing Relationships With the Customer – A Concept Paper
Purpose: As a conceptual paper, this article presents the idea of crowdfunding activities, crowdfunding being not only a modern tool of fundraising but also an interesting form of establishing relationships with stakeholders. The primary aim of the article is to show the role of crowdfunding in th...
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| Format: | Article |
| Language: | English |
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Wydawnictwo Naukowe Wydziału Zarządzania Uniwersytetu Warszawskiego
2021-04-01
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| Series: | Problemy Zarządzania |
| Subjects: | |
| Online Access: | https://pz.wz.uw.edu.pl/resources/html/article/details?id=217803 |
| _version_ | 1818022150458572800 |
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| author | Małgorzata Wiścicka-Fernando |
| author_facet | Małgorzata Wiścicka-Fernando |
| author_sort | Małgorzata Wiścicka-Fernando |
| collection | DOAJ |
| description | Purpose: As a conceptual paper, this article presents the idea of crowdfunding activities, crowdfunding
being not only a modern tool of fundraising but also an interesting form of establishing relationships
with stakeholders. The primary aim of the article is to show the role of crowdfunding in the process of
creating relationships with customers.
Design/methodology/approach: The article has been divided into two parts. The first part focuses on
the definition of crowdfunding as a form of raising funds and provides examples of selected campaigns.
The second part presents the process of establishing relationships during crowdfunding campaigns. The
author applied a qualitative approach to meet the research objectives. Moreover, the concept formulation
was done through a systematic literature review.
Findings: The emotional involvement of consumers in a crowdfunding campaign constitutes a significant
element in relation building and may be developed at any stage of the conducted campaign. Specific
characteristics support building relations with consumers (openness, involvement, curiosity, willingness
to share information, emotional connection, spontaneity, familiarity with other consumers). A major
argument is the fact that during such campaigns relations are built on trust, openness and involvement.
Research limitations/implications: The model was completely built based on the literature. Thus, as
a further step of this research the author strongly suggests conducting research with a quantitative
approach. Furthermore, the author stresses that the presented concept requires empirical verification
and such research is planned in the future.
Originality/value: This article analyzes crowdfunding activity in view of building relationships with customers.
Thus, the author of the article shares the new knowledge and suggests the process of building
relationships with customers by critically illustrating the created conceptual model. |
| first_indexed | 2024-04-14T08:27:37Z |
| format | Article |
| id | doaj.art-0d571aad879f443b9f9d34cdb01a57d3 |
| institution | Directory Open Access Journal |
| issn | 1644-9584 2300-8792 |
| language | English |
| last_indexed | 2024-04-14T08:27:37Z |
| publishDate | 2021-04-01 |
| publisher | Wydawnictwo Naukowe Wydziału Zarządzania Uniwersytetu Warszawskiego |
| record_format | Article |
| series | Problemy Zarządzania |
| spelling | doaj.art-0d571aad879f443b9f9d34cdb01a57d32022-12-22T02:03:59ZengWydawnictwo Naukowe Wydziału Zarządzania Uniwersytetu WarszawskiegoProblemy Zarządzania1644-95842300-87922021-04-01191(91)165176https://doi.org/10.7172/1644-9584.91.12Crowdfunding as an Internet Tool Used for Establishing Relationships With the Customer – A Concept PaperMałgorzata Wiścicka-Fernando0https://orcid.org/0000-0001-9928-3335Faculty of Economics, Finance and Management, University of SzczecinPurpose: As a conceptual paper, this article presents the idea of crowdfunding activities, crowdfunding being not only a modern tool of fundraising but also an interesting form of establishing relationships with stakeholders. The primary aim of the article is to show the role of crowdfunding in the process of creating relationships with customers. Design/methodology/approach: The article has been divided into two parts. The first part focuses on the definition of crowdfunding as a form of raising funds and provides examples of selected campaigns. The second part presents the process of establishing relationships during crowdfunding campaigns. The author applied a qualitative approach to meet the research objectives. Moreover, the concept formulation was done through a systematic literature review. Findings: The emotional involvement of consumers in a crowdfunding campaign constitutes a significant element in relation building and may be developed at any stage of the conducted campaign. Specific characteristics support building relations with consumers (openness, involvement, curiosity, willingness to share information, emotional connection, spontaneity, familiarity with other consumers). A major argument is the fact that during such campaigns relations are built on trust, openness and involvement. Research limitations/implications: The model was completely built based on the literature. Thus, as a further step of this research the author strongly suggests conducting research with a quantitative approach. Furthermore, the author stresses that the presented concept requires empirical verification and such research is planned in the future. Originality/value: This article analyzes crowdfunding activity in view of building relationships with customers. Thus, the author of the article shares the new knowledge and suggests the process of building relationships with customers by critically illustrating the created conceptual model.https://pz.wz.uw.edu.pl/resources/html/article/details?id=217803crowdfundingrelationship marketingcustomer |
| spellingShingle | Małgorzata Wiścicka-Fernando Crowdfunding as an Internet Tool Used for Establishing Relationships With the Customer – A Concept Paper Problemy Zarządzania crowdfunding relationship marketing customer |
| title | Crowdfunding as an Internet Tool Used for Establishing Relationships With the Customer – A Concept Paper |
| title_full | Crowdfunding as an Internet Tool Used for Establishing Relationships With the Customer – A Concept Paper |
| title_fullStr | Crowdfunding as an Internet Tool Used for Establishing Relationships With the Customer – A Concept Paper |
| title_full_unstemmed | Crowdfunding as an Internet Tool Used for Establishing Relationships With the Customer – A Concept Paper |
| title_short | Crowdfunding as an Internet Tool Used for Establishing Relationships With the Customer – A Concept Paper |
| title_sort | crowdfunding as an internet tool used for establishing relationships with the customer a concept paper |
| topic | crowdfunding relationship marketing customer |
| url | https://pz.wz.uw.edu.pl/resources/html/article/details?id=217803 |
| work_keys_str_mv | AT małgorzatawiscickafernando crowdfundingasaninternettoolusedforestablishingrelationshipswiththecustomeraconceptpaper |