Predicting Successful Kickstarter Projects with LanguageCategory: Science & Technology
Posted: January 15, 2014 08:56AM
Language is a powerful tool for those who know how to wield it, and dangerous for those who do not. That is why researchers at the Georgia Institute of Technology decided to examine the use of language with Kickstarter projects. They ultimately arrived at a dictionary of over one hundred phrases that can predict a project's funding success.
For their sample, the researchers built a list of all projects that had launched by June, 2012 and had passed their funding date. That totaled over 45,000 projects, with 51.53% having been successfully funded. Of course there are many factors that can influence a project's success, so the researchers had to control for the use of video, social media connections, categories, as well as funding goals and pledge levels. Once this was accomplished, they found that the language of a project's pitch can account for 58.56% of the variance around success, which is pretty major.
In general the different predictive phrases fell into certain categories including reciprocity, authority, and social proof. If you are looking to start a Kickstarter project any time soon, you may want to check out the source.
Source: Georgia Institute of Technology