Big fishes: Building loyal brand communities in equity crowdfunding by implementing the positive face of FOMO in the post-Covid era

Sabia, Luca, Bell, Robin and Bozward, David (2021) Big fishes: Building loyal brand communities in equity crowdfunding by implementing the positive face of FOMO in the post-Covid era. Business Horizons. ISSN 0007-6813

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Abstract

The aim of this study is to inform entrepreneurs about how best to implement 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 era. Fifteen semi-structured interviews were conducted with crowdinvestors from Europe and North America investing via different equity crowdfunding portals, to obtain primary in-depth qualitative data. Using thematic analysis, the authors investigated how FOMO influences the crowdinvestor’s decision making. Findings suggest that FOMO is a powerful belongingness facilitator to support the crowdinvestor’s self-determination strategies and thus their willingness to be part of a crowdfunding community to share in its values and beliefs. As such it can be used by entrepreneurs to activate identification mechanisms through which they can create a loyal fan base. An entrepreneurial action plan is proposed to guide the entrepreneur in making the most of the equity crowdfunding opportunity through the positive face of FOMO.

Item Type:	Article
Keywords:	Equity Crowdfunding, FOMO, Community Building, Entrepreneurial Start Ups
Divisions:	Business and Entrepreneurship
Depositing User:	Users 30 not found.
Date Deposited:	12 May 2021 15:58
Last Modified:	09 Nov 2021 11:09
URI:	https://rau.repository.guildhe.ac.uk/id/eprint/16452

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