A Note In Defense Of Mob Mentality

Crowdfunding is fast becoming one of today’s sexiest buzzwords. The term was coined back in 2006 by wired.com writer, Jeff Howe, to describe an emerging trend that seemed to be the antithesis to outsourcing. However, the idea behind the phrase is nothing new. Crowdfunding (or crowdsourcing) is simply the act of using two or more people or groups– that might not usually interact– to develop solutions to complex problems.

For many small businesses, crowdsourcing poses a unique opportunity to develop solutions to a myriad of questions with limited resources. What’s more, the widespread availability of the internet, advancement of communications technologies and recent evolution of social media makes using crowdfunding for your organization easier than ever.

Here are four ways to make crowdsourcing work for you:

FUNDRAISING. Have you ever visited a free, donation-based tourist site, like the Museum of Natural History in NYC? If so, you understand that these organizations rely on the generosity of the public they serve in order to keep their lights on and provide their services. Using the same principle, your company might want to host a donation only event in order to raise funds for a specific project. You might consider using the opportunity to tell guests at the event about the offerings your business provides.


RESEARCH & DEVELOPMENT. Major companies like Procter & Gamble are cashing in on crowdfunding. They are doing so through sites like InnoCentive, which calls on the public to develop solutions for internal problems faced by major corporations. “Solvers” earn $10,000+ to resolve issues like, how “to inject fluoride powder into a toothpaste tube without it dispersing into the surrounding air.” The result is that these companies pay far less money to solve their specific problems than they would if they hired a scientist or engineer long term.


CREATIVE CONTENT PRODUCTION. Watch the Super Bowl? If so, then you’re probably familiar with the commercial contests run by large consumer brands each year (the ones in which viewers are asked to submit their own commercials for a chance to have them run during the game). Again, these contests are far cheaper than paying teams of individuals to conceptualize, script, cast, direct and produce television spots. Unknown artists receive a chance to showcase their work for millions, and small businesses are able to utilize the creative brainpower of their audiences without spending a fortune. Consider running a similar ad campaign or an essay contest that asks your consumers to develop a solution to a specific problem.


PUBLIC AWARENESS. First Lady Obama makes no secret of her mission to end our nation’s obesity epidemic. But she’s not the only one. Over the last few years, scores of students, teachers, politicians and even celebrities have organized flash mobs of dancers to raise awareness about the very serious public health issue. While, rounding up the masses for a synchronized two-step to City Hall might not speak to your needs, it could be worthwhile for you to partner with other groups and organizations in order to develop targeted and intriguing communications that you can then distribute to all of your clients.


Filed under: Budgeting, Economy, Events, Michael S Robinson, New York State, News & Articles, Outsourcing, research, research and development, small business, social media, Strategic Planning, target market, technology