skip to main content
10.1145/2598510.2598539acmconferencesArticle/Chapter ViewAbstractPublication PagesdisConference Proceedingsconference-collections
research-article

Understanding and leveraging social networks for crowdfunding: opportunities and challenges

Published:21 June 2014Publication History

ABSTRACT

Crowdfunding provides a new way for creatives to share their work and acquire resources from their social network to influence what new ideas are realized. Yet, we understand very little about this growing phenomenon. Grounded in existing work on social network analysis, we interview 58 crowdfunding project creators to investigate how crowdfunders use their social network to reach their campaign goals. We identified three main challenges, which include understanding network capabilities, activating network connections, and expanding network reach. From our findings, we develop initial design implications for support tools to help crowdfunding project creators better understand and leverage their social network.

References

  1. Aral, S. and Van Alstyne, M. The Diversity-Bandwidth Trade-off. American Journal of Sociology 117, 1 (2011), 90--171.Google ScholarGoogle ScholarCross RefCross Ref
  2. Bernstein, M.S., Bakshy, E., Burke, M., and Karrer, B. Quantifying the invisible audience in social networks. Proc. of CHI '13, 21--30. Google ScholarGoogle ScholarDigital LibraryDigital Library
  3. Bernstein, M.S., Marcus, A., Karger, D.R., and Miller, R.C. Enhancing directed content sharing on the web. Proc. of CHI '10, 971--980. Google ScholarGoogle ScholarDigital LibraryDigital Library
  4. Burt, R. Structural Holes: The Social Structure of Competition. Harvard University Press., Cambridge, MA, 1992.Google ScholarGoogle ScholarCross RefCross Ref
  5. Gerber, E.M. and Hui, J.S. Crowdfunding: Motivations and Deterrents for Participation. TOCHI (in preparation), . Google ScholarGoogle ScholarDigital LibraryDigital Library
  6. Gilbert, E. and Karahalios, K. Predicting tie strength with social media. Proc. of CHI '09, 211--220. Google ScholarGoogle ScholarDigital LibraryDigital Library
  7. Gilbert, E. Designing social translucence over social networks. CHI, (2012), 2731--2740. Google ScholarGoogle ScholarDigital LibraryDigital Library
  8. Giudici, G., Guerini, M., and Rossi Lamastra, C. Why Crowdfunding Projects Can Succeed: The Role of Proponents' Individual and Territorial Social Capital. Available at SSRN 2255944, (2013).Google ScholarGoogle Scholar
  9. Granovetter, M.S. The Strength of Weak Ties. American Journal of Sociology 78, 6 (1973), 1360--1380.Google ScholarGoogle ScholarCross RefCross Ref
  10. Greenberg, M. Learning to Fail: Experiencing Public Failure Online Through Crowdfunding. Proc. of CHI '14. Google ScholarGoogle ScholarDigital LibraryDigital Library
  11. Hui, J., Gerber, E., and Gergle, D. Understanding and Leveraging Social Networks for Crowdfunding: Implications for Support Tools. Proc. of CHI '14 Extended Abstracts. Google ScholarGoogle ScholarDigital LibraryDigital Library
  12. Hui, J.S., Greenberg, M.D., and Gerber, E.M. Understanding the Role of Community in Crowdfunding Work. Proc. of CSCW '14, 62--74. Google ScholarGoogle ScholarDigital LibraryDigital Library
  13. Jung, Y., Gray, R., Lampe, C., and Ellison, N.B. Favors from Facebook Friends: Unpacking Dimensions of Social Capital. Proc. of CHI '13, 11--20. Google ScholarGoogle ScholarDigital LibraryDigital Library
  14. Kim, E.S. and Han, S.S. An analytical way to find influencers on social networks and validate their effects in disseminating social games. Proc. of Social Network Analysis and Mining '09, 41--46. Google ScholarGoogle ScholarDigital LibraryDigital Library
  15. Litt, E. Knock, Knock. Who's There? The Imagined Audience. Journal of Broadcasting & Electronic Media 56, 3 (2012), 330--345.Google ScholarGoogle ScholarCross RefCross Ref
  16. Moisseyev, A. Effect of Social Media on Crowdfunding Project Results. http://digitalcommons.unl.edu/businessdiss/39/, (2013).Google ScholarGoogle Scholar
  17. Mollick, E. The dynamics of crowdfunding: An exploratory study. Journal of Business Venturing 29, 1 (2013), 1--16.Google ScholarGoogle ScholarCross RefCross Ref
  18. Monge, P.R. and Contractor, N.S. Theories of Communication Networks. Oxford University Press, 2003.Google ScholarGoogle ScholarCross RefCross Ref
  19. Rzeszotarski, J.M. and Morris, M.R. Estimating the Social Costs of Friendsourcing. Proc. of CHI '14, . Google ScholarGoogle ScholarDigital LibraryDigital Library
  20. Strauss, A. and Corbin, J. Basics of Qualitative Research: Grounded Theory Procedures and Techniques. Sage Publications, London, 1990.Google ScholarGoogle Scholar
  21. Wojciechowski, A. Models of charity Donations and project funding in social networks. On the Move to Meaningful Internet Systems: OTM Workshops, (2009), 454--463. Google ScholarGoogle ScholarDigital LibraryDigital Library
  22. knodes. http://knod.es/.Google ScholarGoogle Scholar
  23. Klout. http://klout.com/.Google ScholarGoogle Scholar

Index Terms

  1. Understanding and leveraging social networks for crowdfunding: opportunities and challenges

    Recommendations

    Comments

    Login options

    Check if you have access through your login credentials or your institution to get full access on this article.

    Sign in
    • Published in

      cover image ACM Conferences
      DIS '14: Proceedings of the 2014 conference on Designing interactive systems
      June 2014
      1102 pages
      ISBN:9781450329026
      DOI:10.1145/2598510

      Copyright © 2014 ACM

      Permission to make digital or hard copies of all or part of this work for personal or classroom use is granted without fee provided that copies are not made or distributed for profit or commercial advantage and that copies bear this notice and the full citation on the first page. Copyrights for components of this work owned by others than ACM must be honored. Abstracting with credit is permitted. To copy otherwise, or republish, to post on servers or to redistribute to lists, requires prior specific permission and/or a fee. Request permissions from [email protected]

      Publisher

      Association for Computing Machinery

      New York, NY, United States

      Publication History

      • Published: 21 June 2014

      Permissions

      Request permissions about this article.

      Request Permissions

      Check for updates

      Qualifiers

      • research-article

      Acceptance Rates

      DIS '14 Paper Acceptance Rate107of402submissions,27%Overall Acceptance Rate1,158of4,684submissions,25%

      Upcoming Conference

      DIS '24
      Designing Interactive Systems Conference
      July 1 - 5, 2024
      IT University of Copenhagen , Denmark

    PDF Format

    View or Download as a PDF file.

    PDF

    eReader

    View online with eReader.

    eReader