Tuesday, January 14, 2014

Project's Kickstarter Fundraising Success Depends On Words Used

From "Study Finds Phrases that Pay on Kickstarter" on ScienceBlog:
Researchers at Georgia Tech studying the burgeoning phenomenon of crowdfunding have learned that the language used in online fundraising hold surprisingly predictive power about the success of such campaigns.

As part of their study of more than 45,000 projects on Kickstarter, Assistant Professor Eric Gilbert and doctoral candidate Tanushree Mitra reveal dozens of phrases that pay and a few dozen more that may signal the likely failure of a crowd-sourced effort.

"Our research revealed that the phrases used in successful Kickstarter campaigns exhibited general persuasion principles," said Gilbert, who runs the Comp. Social Lab at Georgia Tech. "For example, those campaigns that follow the concept of reciprocity – that is, offer a gift in return for a pledge – and the perceptions of social participation and authority, generated the greatest amount of funding."
The team’s findings are summarized in the paper “The Language that Gets People to Give: Phrases that Predict Success on Kickstarter.” The paper will be formally presented at the 17th ACM Conference on Computer Supported Cooperative Work and Social Computing (CSCW 2014) to be held in Baltimore, Md., from Feb. 15 to 19.

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