Crowdsourcing

Crowdsourcing, is changing the way companies approach creating content. One of way is doing this is by allowing entrepreneurs access to their potential market needs. In the article, “Crowdsourcing to Get Ideas, and Perhaps Save Money”, the author Constance Gutske states that before Lee Mayer decided to start up her company to test the level of success of her business she sent out thousands of surveys asking individuals if they would be interested in this services. Crowdsourcing makes Market development easier for entrepreneurs because it allows for them to target their market directly, since you are allowing your potential consumers to tell you whether or not they need the service. This method also saves you a lot money, and reduces the risk for your business to fail. The author states “While well-established crowdfunding sites like Kickstarter and Indiegogo dip into people’s pockets, crowdsourcing taps into their brains.” In other ways, entrepreneurs can rely solely on marketing researchers to define their markets and what their needs are, However Crowdsourcing cuts out the middleman and instead go directly to generating what is in their consumer brain. “Ms. Mayer herself turned to UserTesting, which offers access to more than a million users, for ideas on Havenly’s site design. Based on the feedback, one of the things she added was a budget calculator.”

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