مجلة إقتصاد المال والأعمال
Volume 11, Numéro 1, Pages 801-818
2026-05-31
Enhancing Crowdfunding Success For Startups Based On Promotional Text Quality: An Advanced Analysis Using Fast Text Models , Indiegogo Platform Example
Authors : Guerbi Abdallah . Boudkhil Mohammed Amine .
Abstract
Crowdfunding has revolutionized entrepreneurial finance; however, campaign success remains elusive. While multiple factors contribute to this, this study posits that the linguistic fabric of campaign descriptions is a critical, underexplored predictor. This study aims to answer a key question: to what degree do the linguistic and semantic features of campaign descriptions on Indiegogo forecast their ultimate success? We propose that successful campaigns tend to use language that is more precise and unambiguous than those that do not succeed. Using a quantitative approach, we examined 20,617 Indiegogo campaigns with Natural Language Processing (NLP). Word embeddings from the FastText model were used to capture semantic relationships, supplemented by comparative methods like TF-IDF, lexical diversity, and semantic similarity. The results strongly confirm our hypothesis. Successful campaigns showed notably greater semantic coherence, diversity, and lexical accuracy. Conversely, unsuccessful campaigns displayed linguistic variability, longer average word lengths, and language that was repetitive and less focused. Visualizing the FastText vector space with t-SNE revealed clear groupings for successful campaigns, suggesting linguistic consistency and a well-defined strategic message. This research offers three main contributions: it empirically links linguistic theory with crowdfunding success models, highlighting the importance of persuasive communication; it proves the effectiveness of sophisticated embedding models like FastText for analyzing financial texts; and it lays the groundwork for practical tools, such as Fast and Frugal Trees, to assist creators in refining their campaign language. The findings emphasize that in crowdfunding, the way an idea is presented is just as important as the idea itself.
Keywords
Crowdfunding, Natural Language Processing (NLP), FastText, Semantic Analysis, Persuasive Communication, Indiegogo, Entrepreneurial Finance, startups
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