crowdcasting

Crowdcasting is a problem-solving and idea-generating tactic in which a corporation disseminates details of a specific problem or situation to a carefully chosen group of people for possible solutions. The process is often conducted as a contest. The results may be used to resolve difficult or complex development and marketing issues.

Typically, the selected target group in a crowdcast is well-educated but not part of the culture of the corporation seeking the solution. Such a group may consist of consumers who buy the company's products or services but who have no other connection with the company or its affiliates. When the event is a competition, these people are treated as contestants. The most creative or promising solutions, as determined by a set of judges, win the contest. Cash prizes generate an incentive for participants to take the contest seriously.

Crowdcasting has been proven to stimulate the evolution of products, processes, technologies, services or trademarks that executives within a corporation believe they might never have otherwise conceived. Some enterprises hire outside experts to organize and conduct crowdcasting events. Other companies do it themselves.

Read more about crowdcasting: - Melanie Haiken describes how crowdcasting works. - Idea Crossing conducts a crowdcasting contest called Innovation Challenge. - Billions with Zero Knowledge discusses crowdcasting and similar methods of tapping communities for new ideas.

Do you have something to add to this definition? Let us know. Send your comments to techterms@whatis.com

Digg This!     StumbleUpon     Del.icio.us

RELATED CONTENT Marketers missing the boat on customer data Marketers say they're leveraging customer data, but few have the right tools or strategies in place to do it, a new report suggests. Building a customer-centric culture This chapter focuses on building lasting customer relationships. Learn how to build a customer-centric culture within your organization. Customer value and successful marketing: How are marketing trends changing? Expert Don Peppers discusses the impact customer value has on marketing efforts.

RELATED GLOSSARY TERMS Terms from Whatis.com − the technology online dictionary cannibalization  (SearchCRM.com) geotargeting  (SearchCRM.com) Geotargeting is the practice of customizing an advertisement for a product or service to a specific market based on the geographic location of...