Crowdsourcing is a valuable practice that engages customers and gathers diverse ideas more efficiently, as seen in various historical and contemporary examples. It allows businesses to save costs, understand their customers better, and receive a multitude of responses through the internet. Notable examples include Starbucks and Lay's, which leverage crowdsourcing for product development and consumer input.

1. The B E N E F I T S of
Crowdsourcing
Mark Richards, Business Developer and
Entrepreneur

2. Some people have a
negative connotation for
the word…
…”Crowdsourcing”

3. But it’s actually proven
to be extremely helpful!
Crowdsourcing
is so useful!

4. The Oxford Dictionary
Started by accepting submissions from the public
In a 70 year
submission
period, they
received over
6 million
responses!!!
(that’s 6
million LESS
words for them
to define)

5. The French
offered a prize
to the first
scientist to
separate salt
from its alkali

6. The British awarded John Harrison who
discovered a simple way to determine a
ship’s longitude

7. For crowdsourced
challenges, visit:
http://challenge.gov/list

8. Perks of Crowdsourcing:
engages customers
entertains many ideas
saves money in creative departments
hear from people who matter most - those
who are already interested!
!
Crowdsourcing gives businesses an idea of who their
customers actually are and what they actually want!

9. The Internet
Makes crowdsourcing
easier and more efficient
most cost-effective way to reach potential
participants
software can easily receive, tally, and
organize responses in a timely fashion

10. For Example:
Starbucks accepts product, experience, and
involvement ideas
Lay’s is running their second, $1 million
prize for Do Us a Flavor contest, allowing
voters to pick which chip they will sell
99designs allows users to crowdsource
business logos by offering cash prizes

11. From a business perspective,
the internet was made for
crowdsourcing.

12. By Mark Richards
Serial Entrepreneur
!
Has started over 12 businesses
!
Read more from him:
!
http://markrichardscharleston.org