Research on Backers’ Motivations in Reward-Based Crowdfunding with Analytic Network Process

Abstract

Crowdfunding is an innovative conceptualized alternative to traditional funding mechanisms which bypasses bureaucracy and eliminates geographical barriers by more contributor with less contribution. The motivation criteria that mobilize backers for crowdfunding especially for those who don’t have a certain financial expectation are an important research topic. In this study, the factors that affect the motivation of the backers, especially in reward-based crowdfunding campaigns were researched, prioritized and their effects on funding decision were examined by using Analytic Network Process (ANP). As a matter of fact, it is seen that the most important motivation factor is reliability of platform instead of reward expectation for those who participate in reward-based crowdfunding campaigns. Considering crowdfunding is still quite new, crowdfunding platforms are the most prominent part of this process and the promised rewards have generally low monetary value or the high fraud rate, this result isn’t considered a surprise.