The term crowdsourcing first appeared in the early 2000s around “wikis” tools like wikipedia, wikimedia, etc. It consists ofemploying users' competences and knowledge to create content or services. Focus on this innovative practice that you can use to develop you retail business or your CPG company!
What is Crowdsourcing?
As you can see, the word is a combination of "crowd" and "outsourcing". If it wasused for the first time in 2006 in a Wired Magazinearticle, the practice has emerged since the beginning of the century through different projects and the most emblematic of which remains that of Wikipedia. The famous online encyclopedia, nourished and updated by the collaboration of Internet users, remains a typical example of the benefits and the possible excesses of crowdsourcing.
On the face site, the website offers unlimited knowledge (more than 30 million online articles), free and enriched by a large community. On the reverse side, validation processes sometimes generate unreliable or even incorrect information. Anyway, this system allows to gather new and different ideas which can be very advantageous for any company.
The Main Advantages of Crowd sourcing
The Customer Needs at the Forefront of your Business strategy
There are many crowdsource benefits but the first one is that it allows you to elaborate a customer-centric approach. Your CPG company can claim to listen to your customers, but if you do not follow through, you will miss everything! Crowd sourcing gives this mission a real meaning by giving you the opportunity to take the creative pulse of consumers. Those who are interested in your content, products and services will share their ideas to offer you an authentic perspective. You will be able to respond to their needs properly by offering them what they like. This is a great way to engage them and get a sense of closeness to your brand!
Your Service for Customers, by Customers
By crowd sourcing ideas, your service will suitperfectly the customers’ needs because they take part in its elaboration.You have to try in every possible way to define the profile and typical needs of your customers: persona definition, trend analysis, forecasts, etc. But who would be better prepared to suggest what your customers want than those same customers themselves?
Let your clients know that they know better than anyone what they want from your brand, and invite them to share it with you.This approach is rewarding for every consumer who recommends improvement, content, functionality or a new product or service. Better yet, imagine their feeling if they see their idea come to life.
To Reduce the Innovation Costs
Crowd sourcing can be a marketing tool with a very positive return on investment.Your community will help you create added value by taking advantage of the creativity and the skills of many resources at a lower cost. You might receive hundreds of creative ideas through marvelous collective intelligence.