Unleashing the Power of Visual Storytelling: Leveraging Cover Photo Narrativity to Attract Backers in Online Crowdfunding Platforms

Abstract

Although extensive research exists on factors that affect crowdfunding campaign performance, little is known about how to attract potential backers and encourage them to visit a campaign's homepage. To address this gap, this study utilizes narrative transportation theory to investigate how the narrativity of a campaign's cover photo influences backers' participation and fundraising performance. Furthermore, the study examines whether the effectiveness of the narrative strategy varies depending on the type of project. Results from analyzing 2,721 reward-based crowdfunding campaigns on kickstarter.com suggest that incorporating narrative elements is particularly useful for founders of intangible rewards. This study contributes to the crowdfunding literature by providing insights into how backers become aware of specific campaigns and by guiding campaign design for founders.