The Pros and Cons of Crowdsourcing a Marketing Campaign

Crowdsourcing is expected to be one of the top trends for marketers this year, according to the digital experts at Last Exit. The concept certainly resonates with cash strapped companies: tap an online community for ideas on how to advance a brand, or develop a product or, in many cases, both.

However as the concept gains traction thanks to success stories - Netflix developed a better prediction engine for films by offering $1 million to the public is just one (via Brandweek) - marketers should also be aware of its dark side.

Shifting Through the Deluge

Companies, especially top brands that offer big monetary rewards such as Netflix, will find themselves with a deluge of offers that may become more work than first realized, according to Jez Frampton, CEO of Interbrand (via Forbes). "It is the ability to select and profitably execute an idea that delivers greatest value to the organization. This supports the old adage that success is 5% inspiration, and 95% perspiration."
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