What determines the success and failure of environmental crowdfunding?

• Published in: Ambio Vol. 50; no. 9; pp. 1659 - 1669
• Main Authors: Kubo, Takahiro, Veríssimo, Diogo, Uryu, Shinya, Mieno, Taro, MacMillan, Douglas
• Format: Journal Article
• Language: English
• Published: Dordrecht Springer Netherlands 01-09-2021; Springer Nature B.V
• Subjects: Atmospheric Sciences; Conservation; Crowdfunding; Earth and Environmental Science; Ecology; Environment; Environmental Engineering/Biotechnology; Environmental Management; Fund raising; Funding; Funds; Marketing; Physical Geography; Research Article; Social networks; Social organization; Success; Sustainable use; Behaviour; Conservation marketing; Fundraising; Charity; Conservation finance; Donation
• ISSN: 0044-7447; 1654-7209
• DOI: 10.1007/s13280-021-01522-0

Online crowdfunding can help address the perennial financial shortfalls in environmental conservation and management. Although many online crowdfunding campaigns fail to collect any funds due to not achieving their targets, little is known about what drives success. To address this knowledge gap, we applied a mixed-methods approach to data from 473 successful and failed campaigns hosted on the online crowdfunding platform Readyfor. We found that fundraising performance varied by topic, with campaigns on pet animal management outperforming those focussed on landscape management and sustainable use. We also found that marketing strategies associated with online findability and increased reach through social networks, increased fundraising success. However, the existence of other environmental campaigns running simultaneously, reduced the chance of success, which implies that the selecting popular topics does not always increase the likelihood of success due to increased competition. Wider applications of marketing could enhance the ability of environmental crowdfunding campaigns to raise funds.