Is Visual Complexity Always Better? Evidence from Cover Images in Online Crowdfunding

In the highly competitive environment of crowdfunding platforms, cover images have become a crucial force in capturing the attention of potential backers. However, effective visual communication strategies for cover images remain underexplored. To address this gap, we investigate the dual impact of visual complexity in cover images. We divide visual complexity into two dimensions: feature complexity at the pixel level and design complexity at the object level. Based on the Elaboration Likelihood Model (ELM), we propose that these dimensions of visual complexity have differentiated effects in highly competitive crowdfunding contexts: feature complexity helps enhance project performance, whereas design complexity exerts a negative influence. Empirical analysis of large-scale project data from over 1.2 million loan-based crowdfunding campaigns validates these arguments. The study enriches our understanding of how visual factors shape crowdfunding outcomes and offers practical guidance for fundraisers to optimize cover images design.