Crowdfunding as a Marketing Tool: For Danish Entrepreneurs

Peter Mølbak Vilstrup

Studenteropgave: Kandidatafhandlinger

Abstrakt

This dissertation investigates how the financing method of reward-based crowdfunding can work as a marketing tool for Danish entrepreneurs. Crowdfunding is a growing capital raising instrument for smaller ventures all over the world – including Denmark. Former studies emphasize that bonuses like marketing benefits which are a by-product of conducting a crowdfunding campaign. It was possible to construct a framework on how crowdfunding can be used as a marketing tool by interviewing seven case companies using the principles and methods behind Grounded Theory. Through three different types of coding four core categories originated from the data. (1) Framework conditions, which determine to which degree an entrepreneur can work with crowdfunding as a marketing tool. (2) Crowdfunding as an internal tool, since crowdfunding activates a range of relevant business actions, creates affirmation, becomes a part of the company DNA, and strengthens the company's use of marketing. (3) Crowdfunding as an external driving force, that points to the fact that crowdfunding can be used as a door opener and as market research. Furthermore, crowdfunding enables press coverage and initiates access to new markets and consumers which creates validation. Lastly, crowdfunding is a part of the customer journey, builds customer relationships, and contributes to greater storytelling regarding the company. (4) Even though crowdfunding is considered as a financing method this study concludes that the financing aspect of crowdfunding is subordinate to the marketing aspect. Since the Danish reward-based crowdfunding market generates a low financial outcome, the value of crowdfunding for the entrepreneur is the marketing by-product. All these findings lead to a better understanding of how Danish entrepreneurs can work with crowdfunding and gain positive marketing outcomes since crowdfunding can be considered a marketing tool.

UddannelserCand.merc.emf Økonomisk Markedsføring, (Kandidatuddannelse) Afsluttende afhandling
SprogDansk
Udgivelsesdato2022
Antal sider78
VejlederePer Østergaard Jacobsen