Crowdfunding - Harnessing the Power of the Crowd

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#PCMQR - Masterclass

#PCMCROWD - MasterclassHarnessing the power of the crowd

PCMCROWDCustomer RetentionBusiness ProductivityCustomer ServicePCM 7 Roads focus

Executive summary1Introduction2Definition of Crowdsourcing3The range of Crowdsouring4Analysis of case studies5Platform & Software6Ethical & legal issues7Future development8Recommendations9ConclusionReferences

Research Project

Crowdsourcing seems a most popular buzz word nowadays. It has changed the way businesses traditionally have been done as it makes organisations outsource tasks, traditionally conducted by employees to an unlimited group of people in order to develop corporate activities. This report examines how businesses are harnessing Crowdsourcing for the completion of tasks and projects within organisations and what problems or potential problems may ensue, as well as identifies what Crowdsourcing may look like in the future.At present there are already many innovative Crowdsourcing business models. For instance, CrowdSPRING launched crowdsourced writing projects in 2010. It allows businesses to gather formal or informal groups and invite their clients or potential clients to help those businesses select an appropriate design. With the trend is moving ahead, more sophisticated crowdsourced service will be provided to make small businesses enhance their business strategy.Executive Summary

a process by which organisations or individuals outsource their unsolved problems to an online external group of people so as to gain innovative ideas or solutions for solving their problems.What is Crowd Sourcing?Concluded NTU research project July 2011

5 yrs ago - 2006

IntegrativeOpen Call, Public Input, Micro tasks, ReviewsSelectiveProblem Solving, Ideas Generation, CompetitionsCrowdfundingfinancial support to ideas, creative projects, product development, Start-Up Funding

Crowd Sourcing Taskforce

UKsnowmapIntergrative

Searches Twitter for real-time snow reports and displays them on the map. #uksnowlocation(postcode ie. NG2)rate the falling snow (5/10)depth of snow(cm or inches)attach a photo

EU Organic logoWinner a student from Germany received 6,000 Selected from 3,500 submissions63% of the votes from 130,000 online votersSelective

An Inflatable Solar LightCrowd Funding

CrowdsourcingProsConsFast & EconomicConvenientprocess is simpleFocused moderation and administrationMultiple solutionsWide knowledge baseEqual entries to everyonePoor quality entriesRepetition of dataHidden costsUndermines the market priceDevalues ProfessionalsCommunications gap

CrowdFundingProsConsIdeal for supporting a one-time project or special eventNot reliant on traditional investor financingBuild an audienceReward fan base loyaltyMicro InvestmentsIgnores business modelslack of expertiseLow capacity to offer feedback about strategyCannot be employed as a long-term strategyLeakage of business secrets

Receiving the product or other forms of reward, such as getting credit on a record or a film - 66.7%Shares - 33.3%Direct cash remuneration - 22.2%

Perks

A documentary portrait of the very last surviving vinyl record shop in Teesside.Sound It Out

www.sounditoutdoc.com

SeedUpsFibre Studio

Where is your existing crowd?What is your existing relationship? What do you have to offer?Your Crowd

Forums Knowledge sharingCharity donations Micro PaymentsSponsorship Micro payment for an actionMarket Research Knowledge collectionFocus Groups Feedback and opinionBenefit concerts ticket for evening entertainment

Before the Crowdsourcing

Email databaseTwitter followersFacebook fansEventbrite audienceEmployees intranetNews Letter mailing listsYour Digital Crowd

Platforms

SetiCrowdmapGiveWorkIntergrative

Coffee and PowerGrouponFreeLancerSelective

Working for freeCopyright infringementLack of accountabilityCorporate governance issuesConfidential information leakageEthics & Legal issues

Glif Phone Standwww.studioneat.comCrowdFunding

Off Screen magazinewww.offscreenmag.com Crowdfunding

Alison WeissCrowdfunding

Bookmark sharing / collectingDiigoLead by ExampleKivaIntellectual CapitalDefining your crowdCrowd Mentality

#PCMCROWD - MasterclassCaron Lyonwww.pcmcreative.co.uk@pcmcreative