Crowdfunding Practices for Social Projects: An Experiment of Co-Creation

  • Rafael Lucian
  • Marta BichoEmail author
Conference paper
Part of the Developments in Marketing Science: Proceedings of the Academy of Marketing Science book series (DMSPAMS)


The main objective of this study is to understand the impact of crowdfunding platforms used to gain support for social enterprises. Crowdfunding is an emergent and growing practice all over the world. The main use of crowdfunding nowadays is to support cultural and social projects, and this paper has a special interest in understanding the support that social enterprises receive from crowdfunding platforms, namely, through websites. There are several kinds of crowdfunding, but the donation-based orientation is the most popular model to support social projects and the focus of this study. A factorial experiment was conducted to test the traits’ behaviour. Our results show that the use of crowdfunding platforms leads supporters to build more favourable values of social enterprises when compared with nonsocial enterprises on crowdfunding platforms and social projects with traditional funding practices.


Crowdfunding Co-creation Social projects 


  1. Albinsson, P. A., Perera, B. Y., & Sautter, P. T. (2015). DART scale development: Diagnosing a firm’s readiness for strategic value Co-creation. Journal of Marketing Theory and Practice, 24(1), 42–58.CrossRefGoogle Scholar
  2. Avery, H. (2013). Crowdfunding gets stamp of approval. Euromoney, 43(527), 11.Google Scholar
  3. Banhatti, R. D. (2016). Crowdfunding of a Social Enterprise: The GloW Project as a Case Study. In D. Bruntje & O. Gajda (Eds.), Crowdfunding in Europe: State of the art in theory and practice: 2016 (1st ed.) (pp. 223–239).Google Scholar
  4. Barrutia, J. M., & Echebarria, C. (2013). Networks: A social marketing tool. European Journal of Marketing, 47(1/2), 324–343.CrossRefGoogle Scholar
  5. Barrutia, J. M., Paredes, M. R., & Echebarria, C. (2016). Value co-creation in e-commerce contexts: Does product type matter? European Journal of Marketing, 50(3/4), 442–463.CrossRefGoogle Scholar
  6. Bellefamme, P., Lambert, T., & Schwienbacher, A. (2013). Individual Crowdfunding practices. Venture Capital. An International Journal of Entrepreneurial Finance, 15(4),313–333.Google Scholar
  7. Bernardes, B., & Lucian, R. (2015). Behavior of Brazilian and Portuguese consumers on crowdfunding platforms. Revista Portuguesa e Brasileira de Gestão, 14(1), 26–36.Google Scholar
  8. Dushnitsky, G., Guerini, M., Piva, E., & Rossi-Lamastra, C. (2016). Crowdfunding in Europe: Determinants of platform creation across countries. California Management Review, 58(2), 44–71.CrossRefGoogle Scholar
  9. European Commission. Directorate-General for Financial Stability FS and CMU Crowdsurfer Ltd, & Ernst & Young. (2015). Crowdfunding mapping EU markets and events study.Google Scholar
  10. Filieri, R. (2013). Consumer co-creation and new product development: A case study in the food industry. Marketing Intelligence & Planning, 31(1), 40–53.CrossRefGoogle Scholar
  11. Gierczak, M. M., Bretschneider, U., Haas, P., Blohm, I., & Leimeister, J. M. (2015). Crowdfunding: Outlining the new era of fundraising. In D. Bruntje & O. Gajda (Eds.), Crowdfunding in Europe: State of the art in theory and practice: 2016. Cham, Switzerland: Springer International Publishing AG.Google Scholar
  12. Grönroos, C., & Voima, P. (2012). Critical service logic: Making sense of value creation and co-creation. Journal of the Academy of Marketing Science, 41(2), 133–150.CrossRefGoogle Scholar
  13. Hill, T. P. (1977). On Goods and Services. Review of Income and Wealth, 23(4), 315–338.CrossRefGoogle Scholar
  14. Holttinen, H. (2010). Social practices as units of value creation: Theoretical underpinnings and implications. International Journal of Quality and Service Sciences, 2(1), 95–112.CrossRefGoogle Scholar
  15. Hu, M., Li, X., & Shi, M. (2015). Product and pricing decisions in Crowdfunding. Marketing Science, 34(3), 331–345.CrossRefGoogle Scholar
  16. Kirmani, A., Sood, S., & Bridges, S. (1999). The ownership effect in consumer responses to brand line stretches. Journal of Marketing, 63(1), 88.CrossRefGoogle Scholar
  17. Lefebvre, R. C. (2012). Transformative social marketing: Co-creating the social marketing discipline and brand. Journal of Social Marketing, 2(2), 118–129.CrossRefGoogle Scholar
  18. Lehner, O. M., & Nicholls, A. (2014). Social finance and crowdfunding for social enterprises: A public–private case study providing legitimacy and leverage. Venture Capital, 16(3), 271–286.CrossRefGoogle Scholar
  19. Lucian, R., & Bernardes, B. (2015). Who to fund? The crowdfunding phenomenon in Brazil. Revista Eletrônica de Jornalismo Científico, 174(1), 1–6.Google Scholar
  20. McKenny, A. F., Allison, T. H., Ketchen, D. J., Short, J. C., & Ireland, R. D. (2017). How should Crowdfunding research evolve? A survey of the entrepreneurship theory and practice editorial board. Entrepreneurship Theory and Practice, 41(2), 291–304.CrossRefGoogle Scholar
  21. Mollick, E. (2014). The dynamics of crowdfunding: An exploratory study. Journal of business venturing, 29(1), 1–16.Google Scholar
  22. Palacios, M., Martinez-Corral, A., Nisar, A., & Grijalvo, M. (2016). Crowdsourcing and organizational forms: Emerging trends and research implications. Journal of Business Research, 69(5), 1834–1839.Google Scholar
  23. Prahalad, C. K., & Ramaswamy, V. (2004). Co-creating unique value with customers. Strategy & Leadership, 32(3), 4–9.CrossRefGoogle Scholar
  24. Reis, R. P. (2017). Dar vida às ideias. Marketeer. pp. 64–66.Google Scholar
  25. Shadish, W. R., Cook, T. D., & Campbell, D. T. (2001). Experimental and quasi-experimental designs for generalized causal inference (2nd ed.). Boston: Houghton Mifflin.Google Scholar
  26. Short, J. C., Ketchen Jr, D. J., McKenny, A. F., Allison, T. H., & Ireland, R. D. (2017). Research on crowdfunding: Reviewing the (very recent) past and celebrating the present. Entrepreneurship Theory and Practice, 41(2), 149–160.Google Scholar
  27. Valiati, V. A. D. (2013). Crowdfunding e indústria cultural: as novas relações de produção e consumo baseadas na cultura da participação e no financiamento coletivo. Verso e Reverso, 27(64), 43–49.Google Scholar

Copyright information

© Academy of Marketing Science 2019

Authors and Affiliations

  1. 1.Centro Universitário UniFbvWydenBrazil
  2. 2.Instituto Universitário de Lisboa (ISCTE-IUL)LisbonPortugal

Personalised recommendations