What is it about?
This case study provides a critical understanding of the connection between start-up investment and the development of a loyal brand community. The paper details how engagement in crowdfunding campaigns can lead to the creation of engaged partners. This is explored through applying the Business Model Canvas to the case of BrewDog, a company that has expanded beyond the niche market of craft brewing to become an international brand. The use of crowdfunding has not only enabled Brewdog to raise the capital to finance expansion but also to develop a special relationship with some of their customers, who through investment and engagement can become partners in the product development process.
Photo by Wil Stewart on Unsplash
Why is it important?
Crowdfunding can be used to not only access financing but can also be used as a marketing tool. BrewDog used its Equity for Punks crowdfunding campaign to support the creation of strong bonds with fans and the development of a brand community. To create community, it is important to develop a sense of connectedness, belonging, a mission, and a meaning. BrewDog created its brand community around the mission to provide “Craft Beer for the People”. The case of BrewDog highlights how equity crowdfunding can be applied to help convert customers from being a passive audience to being engaged as partners within a community.
Read the Original
This page is a summary of: Using equity crowdfunding to build a loyal brand community: The case of Brewdog, The International Journal of Entrepreneurship and Innovation, March 2022, SAGE Publications, DOI: 10.1177/14657503221086101.
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