Ever heard about impression management…?
Impression management refers to the strategies that individuals use to shape others' perceptions of them. In the context of crowdfunding, entrepreneurs use impression management techniques to present their ventures and themselves in the best possible light to potential investors. With so many projects vying for attention, it can be challenging to stand out from the crowd. That's where impression management techniques come in.
A study published in the European Management Journal in 2021 examined the effectiveness of various impression management techniques in crowdfunding videos. The study used both human and AI-based analysis to determine which techniques were most effective in generating interest and funding for crowdfunding projects.
Some of the most commonly used impression management techniques in crowdfunding videos include:
Many crowdfunding entrepreneurs possess talents or qualifications that are relevant to their projects. For example, a musician launching a new album might showcase their musical skills in their crowdfunding video. Demonstrating their expertise and passion for the project can be achieved through this approach.
Crowdfunding entrepreneurs can also demonstrate their knowledge of their industry or discipline by providing statistics, product features, and analysis of competitors. This technique is particularly prevalent in electronics-related products, where technical specifications are essential.
Using professional language can help establish credibility and expertise. For example, an entrepreneur launching a new sensor might use engineering language to describe how the sensor works and what sets it apart from similar products.
In conclusion, if you're planning to launch a crowdfunding campaign, it's worth taking the time to think about how you can use impression management techniques to your advantage. Through the display of your talents and qualifications, demonstration of industry knowledge, and utilization of professional language, your venture can distinguish itself and capture the interest of potential investors. Best of luck!
