Big fish: Leveraging the Fear of Missing Out in Equity Crowdfunding in the Post-COVID-19 Era

Luca Sabia; Robin Bell; David Bozward

doi:10.1016/j.bushor.2021.09.006

Big fish: Leveraging the Fear of Missing Out in Equity Crowdfunding in the Post-COVID-19 Era

Luca Sabia, Robin Bell, David Bozward

CBL International Centre for Transformational Entrepreneurship (ICTE)

Research output: Contribution to journal › Article › peer-review

7 Citations (Scopus)

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Abstract

In this article, we look at how to leverage the positive face of the fear of missing out (FOMO) to foster brand community-building in the context of equity crowdfunding in the post-COVID-19 era. Using thematic analysis from 15 interviews with crowd investors across Europe and North America, we investigated how FOMO influences the decision-making of crowd investors. Findings suggest that FOMO is a powerful belongingness facilitator that can support the crowd investor’s self-determination strategies and thus their willingness to take part in a crowdfunding community, sharing in its values and beliefs. FOMO can be used by entrepreneurs to activate identification mechanisms through which they can create a loyal fan base. We conclude by proposing an entrepreneurial action plan to guide the entrepreneur in making the most of FOMO in equity crowdfunding ventures.

Original language	English
Pages (from-to)	59-67
Number of pages	9
Journal	Business Horizons
Volume	65
Issue number	1
Early online date	28 Sept 2021
DOIs	https://doi.org/10.1016/j.bushor.2021.09.006
Publication status	Published - 1 Jan 2022

Bibliographical note

© 2021 Kelley School of Business, Indiana University
© 2021, Elsevier. Licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International http://creativecommons.org/licenses/by-nc-nd/4.0/

Copyright © and Moral Rights are retained by the author(s) and/ or other copyright owners. A copy can be downloaded for personal non-commercial research or study, without prior permission or charge. This item cannot be reproduced or quoted extensively from without first obtaining permission in writing from the copyright holder(s). The content must not be changed in any way or sold commercially in any format or medium without the formal permission of the copyright holders.

This document is the author’s post-print version, incorporating any revisions agreed during the peer-review process. Some differences between the published version and this version may remain and you are advised to consult the published version if you wish to cite from it.

Keywords

Equity crowdfunding
FOMO
Community-building
Startup crowdfunding
Brand community
Value creation

ASJC Scopus subject areas

Marketing
Business and International Management

Access to Document

10.1016/j.bushor.2021.09.006

SabiaAAM2021Accepted author manuscript, 1.03 MBLicence: CC BY-NC-ND

Cite this

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abstract = "In this article, we look at how to leverage the positive face of the fear of missing out (FOMO) to foster brand community-building in the context of equity crowdfunding in the post-COVID-19 era. Using thematic analysis from 15 interviews with crowd investors across Europe and North America, we investigated how FOMO influences the decision-making of crowd investors. Findings suggest that FOMO is a powerful belongingness facilitator that can support the crowd investor{\textquoteright}s self-determination strategies and thus their willingness to take part in a crowdfunding community, sharing in its values and beliefs. FOMO can be used by entrepreneurs to activate identification mechanisms through which they can create a loyal fan base. We conclude by proposing an entrepreneurial action plan to guide the entrepreneur in making the most of FOMO in equity crowdfunding ventures.",

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Big fish: Leveraging the Fear of Missing Out in Equity Crowdfunding in the Post-COVID-19 Era

Abstract

Bibliographical note

Keywords

ASJC Scopus subject areas

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