확산이론에 기초한 크라우드펀딩 모금시장의 전략연구: 다음 스토리펀딩을 중심으로

This study applies the innovation diffusion theory adopted in the business marketing subjects to analyze the diffusion pattern of online fundraising projects. The primary purpose of this study is to identify the determinants of crowdfunding products which have relatively short product cycles. For this purpose, we collect 230 fundraising projects from the storyfunding webpage at DAUM and analyze a dynamic relationship between daily achievement rate and posting period. In the empirical regression model, we employ a cubic functional form with the independent variable, posting period. Panel regression estimation finds that first, the achievement rate increases rapidly in the early stages of posting period and subsequently this rate is alleviating. The hypothesis test shows the cubic function form assumption is statistically acceptable. Second, when the project attribute is a campaign reflecting the public interest purpose, there still exists the fundraising persistence even if the posing period increases. Also, we find that this diffusion pattern of fundraising is statistically different from non-campaign projects. Accordingly, it is essential for online fundraising programs to establish a strategy that can appeal to potential supports in the beginning period of posting. It is also necessary to build a fundraising strategy to communicate and continuously share with another outside of the funding site and thus keep up with the oral and communication effects.