SOCIAL MEDIA INFLUENCE ON CROWDFUNDING PROCESS EVALUATION MODEL

More than ever companies are using crowdfunding campaigns to collect necessary funds for their projects. One of the success factors of crowdfunding campaigns is the usage of social media sites like Facebook and Twitter for crowdfunding campaign promotion. Despite the popularity of crowdfunding campaigns, there has not been developed a model to determine the influence of social media on crowdfunding campaigns. The aim of this paper was to develop a social media influence on crowdfunding process evaluation model that can help companies evaluate social media influence on their crowdfunding campaigns and help companies to determine necessary changes in social media communication to pledge the necessary funds. To achieve the aim of the paper several research methods were applied: (1) Literature analysis to determine which Facebook and Twitter metrics should be analysed to determine social media influence on crowdfunding campaigns; (2) Secondary data research method was applied to: a. Collect Kickstarter technology category campaign data; b. Collect data from Kickstarter campaign Facebook and Twitter accounts. Statistical package for the social sciences (SPSS) was used to conduct a correlation analysis and descriptive analysis of the collected data. The result of the paper was that a model that can determine social media influence on crowdfunding campaign process was proposed.