Crowdsourcing and New Product Development

Peter Devereaux
by Peter Devereaux 15 Jan, 2016
Crowdsourcing and New Product Development

Mention crowdsourcing in a room full of product developers and you're sure to see some concerned faces. 

While there are plenty of uses cases including content creation and labor-intensive tasks like research, arguably the best idea is for product ideation and problem solving. 

Crowdsourcing allows you to harness the intelligence of hundreds --perhaps even thousands -- of people to generate ideas or solve problems. There are now a number of websites where you can solicit creative minds for help with simple tasks like designing a company logo (such as 99designs). With crowdsourced design, a logo may cost $200 instead of $400, and with websites like Upwork, you can connect with multiple designers in a short period of time.  

The benefit of crowdsourcing for idea generation or problem solving is not just the ability to leverage thousands of ideas -- it can also help you control costs. If you cannot afford your own research and development (R&D) team, or if you have a limited budget, offering a fixed prize can keep your project out of the red.

Peter Devereaux
Peter Devereaux
As the Editor-in-Chief of Website Magazine and President of Website Services, Peter has established himself as a prominent figure in the digital marketing industry. With a wealth of experience and knowledge, Peter has been a driving force in shaping the landscape of digital marketing. His leadership in creating innovative and targeted marketing campaigns has helped numerous businesses achieve their revenue growth goals. Under his direction, Website Magazine has become a trusted source of information and insights for digital marketers worldwide. As President of Website Services, Peter oversees a team of talented professionals who specialize in SEO/SEM, email marketing, social media, and digital advertising. Through his hands-on approach, he ensures that his team delivers exceptional results to their clients. With a passion for digital marketing, Peter is committed to staying up-to-date with the latest industry trends and technologies, making him a sought-after thought leader in the field.