Crowdsourcing is a term that refers to the process of tapping into the collective knowledge of the American public to perform business-related tasks. While it is most often conducted by businesses, it also directly benefits consumers. Below, Brafton outlines why both business owners and their customers should be excited about crowdsourcing.

Why it matters for marketers

When developing new products or services, companies want to make sure people will buy. To improve the odds of achieving higher profit margins, marketers can crowdsource ideas to pool collective intelligence and create web content that appeals to the masses.

Brands have discovered they can ask their customers for feedback, and use these insights for conceptualization and distribution processes that follow. The proliferation of the internet has allowed marketers to pull prospects into the creative side of product development, asking influencers to weigh in on innovations. When brands have a clearer idea of what the general public wants, they can move forward and create products and services with the end user in mind.

Why it matters for consumers

Crowdsourcing may seem like just another way for brands to make money online, but it also improves the customer experience. People have needs and demands, and brands that crowdsource ideas throughout their product development processes will ask customers about their hardships. This gives consumers a voice in the business world, and grants them access to products and services that truly match their needs and preferences.

The practice of crowdsourcing brings the best ideas together for the greater good of the marketplace. It’s a way of collaborating with people, no matter their backgrounds and professional focus, to inspire true innovation in a connected world.