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| crowdsourcing |
crowdsourcing – unleashing the power of the online community
A term first used in Wired magazine back in 2006, “crowdsourcing” has become a powerful and cost effective method of achieving business goals through the use of the masses. Simply put, business and corporates invite the public to submit ideas and innovations for new and existing products, in exchange for a once-off or a small percentage of future royalties.
Social media has spurred on this innovation, and has allowed the business world to tap into the consumer psyche with little financial outlay.
A term first used in Wired magazine back in 2006, “crowdsourcing” has become a powerful and cost effective method of achieving business goals through the use of the masses. Simply put, business and corporates invite the public to submit ideas and innovations for new and existing products, in exchange for a once-off or a small percentage of future royalties.
Social media has spurred on this innovation, and has allowed the business world to tap into the consumer psyche with little financial outlay.
