Discussing business projections as a team

Advertising industry has seen changes over a period of time. Nowadays, from the door of a taxi to the shelves in an airplane, everything is used as a medium for broadcasting advertisements. However what is really puzzling is the new concept of creating advertisements for the customers – ‘with the customers’ and sometimes purely ‘by the customers’.

The advertisements are designed to influence the buying behaviour of the customers, so can one be really asked to design something to influence himself / herself? The global advertisement industry is worth more than $500 billion (Reid, 2003), and most companies have chosen the path to be as interactive with their customers as it can be. For instance, Codechef, an initiative by a software giant Direct-I, hosts contests and events for programmers worldwide providing them a platform to meet, compete, and have fun (Codechef website, 2011).

However the level at which the companies involve the crowd differs. It is usually based on the motives of the companies that they want to achieve, and the campaigns are designed accordingly. Crowdsourcing is a new concept, introduced in 2006 by Jeff Howe, and it is a concept coined to achieve companies‟ objectives and to either create or modify, either existing or new tasks, by involving the crowd and making them work, either for free or by offering a compensation.

There are different models of crowdsourcing to achieve different tasks and objectives of a company. Some models of crowdsourcing demand high involvement from the crowd while other demand low involvement. The models are chosen as per the campaign need, accordingly.

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I'm an eCommerce Project Director at an agency in London and a consultant for a number of eCommerce start-ups. I founded Think etc 9 years ago which now lets me share my research and experience with all the interesting brands, people, places and projects that I have been privileged to work with. My work on crowdsourcing was published by Oxford as part of a journal article and I have been obsessing over eCommerce and Magento over the past several years.