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The Power of Crowdsourced Marketing Tactics in a Fast-Paced Business World

Jamie Danielle Munro
August 9th, 2012
Crowdsourced marketing tactics are becoming a prominent form of advertising and product development in today's fast-paced business world. With the overwhelming competition many entrepreneurs face, and the constant demand to develop the next cutting edge campaign or gadget, business gurus now have the opportunity to understand their target market better than ever. Instead of waiting to see whether or not customers will be interested in your services, why not incorporate these people directly into the creative process?

This is what many companies are doing these days to stay up-to-date and in touch with their audience. Trend Hunter is a great example of a site built off these crowdsourcing methods, allowing us to feature the latest innovations from around the globe. It is crucial that as a company we stay in touch with this worldwide market, as our reports and research offered to customers must highlight the best innovations from all over. Crowdsourced marketing tactics allow Trend Hunter to stay informed about the latest inventions and cutting edge finds, which would be tough to do just relying on the Toronto-based team.

According to Jamie Turner, founder of The 60 Second Marketing blog, there are three benefits to creative crowdsourcing: engaging content, online word-of-mouth and creative insights. With information sharing more accessible than ever before, it is crucial for businesses to keep up with original content and engaging subject matter. The key is staying "fresh and authentic," according to Turner, as content must always be challenging and new. Crowdsourcing also helps engage an audience and create awareness for a brand, encouraging consumers to tell their friends and share through social media.

Crowdsourced Entrepreneurship highlights successful campaigns that engage audiences. This specific example features a micro trend covering a Mini Cooper advertisement, which asks consumers to submit designs for a new customized car wrap. The top 25 designs are then chosen and manufactured for those looking to personalize their auto. By engaging the creative minds of the public, the company was able to employ the power of crowdsourced marketing tactics and receive countless submissions.

Fashion marketers are also taking advantage of crowdsourcing and opening up design features to the public. 'Cut on Your Bias' is a platform founded by Louis Monoyudis, a designer who has worked for the likes of Louis Vuitton and Calvin Klein. The site allows viewers to vote on their favorite cuts and colors, so while consumers can't quite contribute set ideas to the site, they can give Monoyudis a sense of what buyers are looking for. This method drastically lowers the risk of producing unpopular products, and increases the chances of profit.

Thus, crowdsourced marketing tactics have a number of benefits. To find out more about these methods, our Marketing Trend Report highlights these ideas in greater detail.
References: mashable, trendreports