Communication of post-release plans in crowdfunding development initiatives: A signaling perspective |
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| Institution: | 1. ESIC University, Av. Valdenigrales s/n, 28223, Pozuelo de Alarcón, Madrid, Spain;2. ESIC Business & Marketing School, Av. Blasco Ibáñez 55, 46021 Valencia, Spain;1. Kedge Business School, Domaine de Luminy, BP 921, 13288 Marseille Cedex 9, France;2. John Molson School of Business, Concordia University, 1455 de Maisonneuve boul. West, Montreal, Canada;3. University of Twente, Drienerlolaan 5, 7522 NB Enschede, the Netherlands;1. School of Management, University of Science and Technology of China, 96 Jinzhai Road, Hefei 230026, China;2. International Institute of Finance, School of Management University of Science and Technology of China, 96 Jinzhai Road, Hefei 230026, China;3. International Institute of Finance, School of Management University of Science and Technology of China, 96 Jinzhai Road, Hefei 230026, China;1. Swansea University, Wales, UK;2. NUI Galway, Ireland;3. ISTLab, Athens University of Economics and Business, Greece;4. University of Turku, Finland;5. University of Agder, Norway;6. Norwegian University of Science and Technology, Norway;1. Ontario Tech University, Oshawa, Canada;2. Royal Holloway, Egham, Surrey TW20 0EX, United Kingdom;3. Norwegian University of Science and Technology, Trondheim, Norway;1. School of Management, University of Science and Technology of China, China;2. School of Finance, Anhui University of Finance and Economics, China |
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| Abstract: | Significant research explores how developers leverage crowdfunding to attract finance for releasing digital goods. However, researchers seldom study “post-release activities” that are crucial for maintaining and advancing those goods. This article elaborates on the challenging nature of post-release activities for crowdfunding initiatives, asking how developers communicate their post-release plans to effectively prepare backers for possible changes. Using a grounded approach that connects the longitudinal history of fundraising to development to post-release, I examine initiatives that achieved impressive fundraising and development results yet varied significantly in their post-release outcomes. While they consistently signaled post-release plans, the differences are the signals’ costs, backers' reactions, and the post-release activities and outcomes. I present theoretical propositions that (1) developers benefit in the long run by combining high-cost signaling with engaging backers in follow-up conversations about post-release issues and (2) prospective backers can utilize developers' communication to identify their post-release signals. Unlike dominant research findings about signals’ impacts on mobilizing resources during fundraising, the findings emphasize signals’ post-release consequences for stakeholders. While different signaling approaches can enhance short-term performance, they also seed contrasting longer-term outcomes for developers, backers, and the industry. These findings advance knowledge on effective strategies for engaging society to build sustainable digital goods. |
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| Keywords: | Crowdfunding Software Post-release Digital Communication Information sharing Entrepreneurship Case study Grounded theory sustainable development Crowd |
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