Research On Influence Factors Of Crowdfunding Based On Consumers’ Viewpoints

Crowdfunding- as a booming innovative Internet-based financial model, is one of the solution to SMEs and entrepreneurs to develop new products in a difficult financing situation. Fist, relevant research results and current situation of the development of the industry at home and abroad were studied and summarized. This paper describes the model’s concept and development status. In the view of Osterwalder reference model, construct the business model of crowdfunding from nine aspects: Value proposition, target consumers segments, distribution channels, customer relationships, value configurations, core capabilities, and partner’s network, cost structure and revenue model. Simultaneously, analyze its characteristics and the current problems of Chinese crowdfunding, from two different aspects of horizontal and vertical. This study help the entrepreneurs and product development teams to initiate projects more effectively, improving the success rate, on the other hand, help guide crowdfunding websites to select right project and improve the website income. Based on the research of product/service and consumers of business model, framework was constructed from consumers’ viewpoints. Factors were extracted by studying the process of crowdfunding, combined with relevant literature. Applying the method of optimal scaling regression, this paper researched into the influential factors affecting crowdfunding project financing, based on a survey about 314 projects funded in crowdfunding website in 2013. It was found out that the economic, customer participation, trust, information quality and social network have positive effects on crowdfunding project financing, customer participation making the most influence. Corresponding conclusions and suggestions were put forward to help financing individuals or groups to improve their performance in crowdfunding. In the end, based on BP_Adaboost model, crowdfunding financing forecast model were built. With the help of Matlab and data collected, the model was improved and well applied to the selection of potential crowdfunding projects.