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Social Media MarketingCrowdsourcing – “Techniques thatcompanies can effectively use..!!” Techniques that companies can effectively use..!!Group 12Puneet Rastogi www.puneetrastogi.comDeepika Solanki www.deepikasolanki.infoNeha Goyal www.nehagoyal.orgNeha Johari www.nehajohari.comKaran Gandhi www.karangandhi.in
What is Crowdsourcing..?• Crowdsourcing is the practice of obtaining needed services, ideas, or content by soliciting contributions from a large group of people, and especially from an online community, rather than from traditional employees or suppliers.• Crowdsourcing is an online, distributed problem-solving and production model
Tips for successful Crowdsoucing forbusiness..!! Define your crowd Describe the Transparency process with deadlines Reward Involvement System
Successful Tips..1. Define Your Crowd Describe the process• Is crowd a specific group or with Deadlines everyone• Which social network would • Describe all steps in the work best for your crowd eg: process to the crowd – Linkdin, facebook.. Etc • Contribution , selection &• Make your call to the crowd voting clear. • Give the crowd a deadline so• The crowd should have no that they come to action questions about you’re your call
Successful Tips..3. Reward System 4. Involvement• Reward all the contributions • Join the converstaion with the made by the crowd crowd• Consider non monetary • Be coach to your crowd , benefits also answer questions which the• Give credits to the crowd for crowd asks the work they do
Successful Tips..5. Feedback 6. Transparency• Respond to contributions • Inspite of using different• A good response to a non Social networking sites, make one central point where all useful contribution can lead to data comes together useful contribution • Be transparent in all you do• Consider a voting system • Eg: where the crowd can choose • What will you use the results the best contributions for • How does the decision making process look like • How the contributions be rewarded
Wisdom of the Crowds Expert MassesEnterprise Web 2.0 $$$$ $ Equivalent, or greater, utility under the Curve Utility 10 100 1000 10,000+ # of Contributors
Economics & Wikinomics Expert Masses $$$$ $Enterprise Web 2.0 4,000 experts 100,000 amateurs 80,000 articles 1.6 Million articles Utility 200 years to develop 5 years to develop Annual Updates Real-Time Updates “8.8/10.0 Reliability” “8.0/10.0 Reliability” 10 100 1000 10,000+ # of Contributors
Trends in Crowd sourcing Customer Reviews for Businesses and Services Product design and development Starting discussions to find answers Best Deals Rise of Expert Sourcing Music Videos Quizzes or competitions to solve operational issues
Some Applications of Crowdsourcing Testing & Refining a Netflix SellaBand Product Market Threadless Research Knowledge Accenture Wikipedia Management Customer My Starbucks Service ideas P&G R&D InnoCentive Connect & Develop Polling and InTrade Building a Voting new city
My Starbuck Ideas Customer linked to the brand via Product, In-store experience and Involvement Rewards for communit y members Ideas in Action – Which community ideas are worked upon by Coffee chain.
GE Quest Challenges – SolveOperational Issues • Winners get cash rewards ($500,000 for the Flight Quest and $100,000 for the Hospital Quest) from GE • For the Flight Quest, the challenge is to create an algorithm for a flight management system that reduces flight delays from the current 18 to 22% inefficiency • For the Hospital Quest, participants are competing to come up with an application for patients to make hospital stays and operations of the hospital more efficient GE’s Minds and Machines