Analysis of Influencing Factors of Public Crowdfunding Based on Social Media- -Take “Water Drop Fund” as An Example

Abstract

With the popularity of mobile phone clients and the rapid development of Internet, social media has infiltrated into people’s daily lives. In this context, China’s public crowdfunding has developed and grown, forming a unique operating mode under the impact of the times. Many public crowdfunding platforms based on social media such as Weibo and WeChat have emerged. “Water Drop Fund” is a typical new public welfare under the combination of social media and public welfare. By studying the “Water Drop Fund” platform, we can discover the epitome of this new form of public welfare under the context of the new era. This article takes “Water Drop Fund” as an example, collects relevant information about applicants on the public welfare platform, and uses regression analysis to describe the different influencing factors in this crowdfunding project. It summarizes the relationship between various factors and the crowdfunding rate, and further discovers that the target amount, the number of confirmations, and the number of reposts are the key factors affecting this new type of public welfare crowdfunding. Suggestions for the future development of the public welfare crowdfunding system are made based on these key factors.