Crowdsourcing

1. What is the definition of crowdsourcing?

Taking a job traditionally performed by a professional and distributing it to an undefined, generally large group of people in the form of an open call. The term “crowdsourcing” was first coined by technology commentator Jeff Howe in a Wired Magazine article in June 2006. It’s a relatively new term, but the concept dates back as far as the 1700s.

2. What is the difference between the wisdom of the crowd and crowdsourcing?

The wisdom of the crowd refers to the collective knowledge, opinion or skills of a group of individuals instead of using one expert to solve problems. Whereas, crowdsourcing generally lets other experts or amateurs as groups or individuals solve the problem in the form of an open call.

3. What are the benefits of crowdsourcing for both consumers and brands?

• Handing over the ownership of your brand encourages consumer involvement.

• Inter-disciplinary collaboration brings fresh input.

• Individuals have opportunities and connections that did not exist before.

• Problems can be explored at a low cost and often very quickly.

• Often, a client pays for results, and only for what is used.

• The organisation can tap a wider range of talent and brainpower which may not be present within   its own resources.

• Organisations can gain valuable insight into the desires of their customers.