Determinants of success of donation-based crowdfunding through digital platforms: The influence of offline factors

Resumen

The purpose of this research consist of exploring the extent to which factors traditionally explaining the success of offline fundraising campaigns for social causes may also influence the success of donationbased crowdfunding (DCF) campaigns promoted by social economy organizations (SEO) through digital platforms. Firstly, factors determining the success of offline fundraising campaigns for social causes are identified from previous literature. Secondly, a set of hypotheses linking these determinants to DCF campaigns is proposed. Thirdly, their explanatory capacity is measured through quantitative analysis based on a database of 360 campaigns fostered by small, medium and large-size organizations via Microdonaciones, a donation-based crowdfunding digital platform, for the period between 2012 and 2017. Logistic regression analysis is used to test the hypotheses proposed. Results confirm the high explanatory capacity of determinants related to the geographical scope of the campaign, the volume of potential beneficiaries involved –in these two cases in unexpected ways-, and the information provided by the promoting organizations. However, factors related to the timing of the campaigns do not influence their success. This research suggests that not only the funding channels and tools but also the nature of the fundraising campaigns themselves have been digitally transformed. Implications of this research may assist SEO in establishing effective relationships with new digital donors in order to achieve sustainable growth.