Research on the Factors that Influence Brand Promotion Effect in Crowdfunding： Based on Elaboration Likelihood Model Perspective

Abstract

Abstract: In addition to raising funds for SMEs, crowdfunding is also considered to be able to help their brand promotion. This paper collects data of 222 projects on Taobao Crowdfunding platform and their related initiating stores on Taobao website, based on the theoretical perspective of ELM, to study the factors that influence brand promotion effect and the intermediary role of financing effect. The main conclusions are: project innovation, cycle sustainability, product reliability, project eWOM and initiator eWOM have a positive impact on brand promotion effect; for the projects with larger funding target, higher minimum supporting amount or non-enterprise as the initiator, the supporters inspect the projects comprehensively according to both central path and edge path information to affect the brand promotion effect, and for other projects, they only process the information through edge path; project innovation, cycle sustainability, information detail and project eWOM have a positive impact on project financing effect; financing effect has a negative impact on brand promotion effect; financing effect plays an intermediary role between project innovation, cycle sustainability, project eWOM and brand promotion effect, and the direct positive effect is far greater than the indirect negative effect.

Key words: brand promotion effect, financing effect, ELM, crowdfunding

Zeng Jianghong, Huang Xiangrong, Yang Yalan. Research on the Factors that Influence Brand Promotion Effect in Crowdfunding： Based on Elaboration Likelihood Model Perspective[J]. Management Review, 2022, 34(9): 170-180.

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