Tweeting to Triumph: Gender differences in harnessing social media for crowdfunding

Susana C. Santos, Sílvia Costa, Kourosh Shafi and Xaver Neumeyer

Journal of Small Business Management, 2025, vol. 63, issue 6, 2860-2889

Abstract: Crowdfunding offers the potential to democratize access to financing, particularly for women entrepreneurs. Grounded in social role theory, this article investigates whether social media coverage provides distinct advantages for women entrepreneurs in crowdfunding efforts. Using data from 11,409 Kickstarter campaigns, we tracked daily fundraising and social media activity. The results show that social media coverage enhances crowdfunding outcomes for all entrepreneurs but has an even greater impact on women-led campaigns. Specifically, as women-led campaigns gain more funding (an agentic trait traditionally associated with men), the volume of social media coverage (a communal trait traditionally associated with women) exerts an increasingly strong positive effect on fundraising. This suggests that the interplay of seemingly opposing gender signals contributes to the success of women’s crowdfunding campaigns.

Date: 2025
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DOI: 10.1080/00472778.2024.2425392

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