Management Review ›› 2025, Vol. 37 ›› Issue (6): 53-65.

• Economic and Financial Management • Previous Articles    

A Study on the Influence of “Heard” Language Persuasion Characteristics on Crowdfunding Success Rate: Empirical Research Based on Crowdfunding Audio

Li Yan1, Xu Shihan2, Wang Hongwei3   

  1. 1. Institute of Language Sciences, Shanghai International Studies University, Shanghai 200083;
    2. School of Business and Management, Shanghai International Studies University, Shanghai 200083;
    3. School of Economics and Management, Tongji University, Shanghai 200092
  • Received:2023-03-13 Published:2025-07-10

Abstract: The existing research mostly analyzes the impact of persuasion theory on investors from the perspective of text information in the project display page, that is, the “seen” project introduction. Few studies focus on how investors can persuade and attract investors to invest in audio. Because audio and text belong to two different media, whether the previous research conclusions can be fully applied to audio research needs to be verified. Although research has confirmed that the use of audio is beneficial to crowdfunding results, the research on audio features is insufficient. This paper takes the technology crowdfunding video of the Kickstarter platform as the research object, extracts its audio, that is, the “heard” project introduction, extracts the language persuasion features of audio from the perspective of expression features and content features, and then studies the impact on the success rate of crowdfunding. The research results show that, unlike the text research, the style of appeal to emotion and appeal to analysis in audio will have a negative impact on science and technology projects. The over-expression of positive emotions in the videos of technology crowdfunding projects, like the expression of negative emotions, will inhibit the success of the project. Technology projects have a certain professional threshold, and the over-expression of emotions will affect investors’ recognition of the professionalism of the whole project. Therefore, when making videos of technology crowdfunding projects, financiers should reduce the over-expression of positive emotions. In addition, this paper also proves that the more obvious the analytical style is, the more likely it will have a negative impact on the success of crowdfunding. Therefore, it is suggested that the financiers of crowdfunding should properly adjust the proportion of analytical content when making videos. Since the speakers and audiences of the promotional videos of science and technology projects are mostly male, the more male voices appear in the promotional videos, the more negative impact will be on the emotional expression and analytical style.

Key words: language persuasion feature, audio feature, crowdfunding, ELM model