Oct-10-11 By Aminda
Plenty has been written about the benefits of crowdsourcing an article on Socialmediatoday.com outlines several of those benefits. Perhaps most interesting are those that can make money or save money for a business.
For example, businesses have utilized crowdsourcing to successfully identify a void in the market and creating a brand new market out of it. Then, once those customers have been identified, social media provides a platform for engagement, identification of their needs and to for calculating a business’ ROI. Through campaigns, competitions and prizes, publicity, and additional customers, can be generated. Anyone doubting the potential business benefit of crowdsourcing need only look to the success of Yelp.