How Crowdsourcing Adds Value For Most Organizations- Even The Small-Medium Entreprises

Crowdsourcing adds value to companies by helping these businesses sort out the most tedious process of the work process through outsourcing.

The idea is for outsourced talents to take over the task and deliver it. The fundamental of this approach is attracting the right talent for the right tasks in hand. Usually these companies sought-after niche skills, brilliant minds, and community participation.

Companies usually seek to outsource in these areas- technology, software development, content creation, video production and even advertising.

When companies are limited to what they can achieve with their internal resources, crowdsourcing has the potential to create tremendous value for these businesses, enabling easy access to a group of skilled people with substantially unlimited skillset.

Crowdsourcing enables companies to quickly collaborate with experienced and skilled talents to address specific challenges by providing varied solutions. This allows crowdsourcing to add value in the progress, ensuring that the right people with the right skills are deserving those opportunities.

 

At the same time, crowdsourcing adds value by bringing about openness and businesses can benefit the following via crowdsourcing…

Quicker work turnaround time

One of the main advantages of crowdsourcing for tasks and ideas is faster work turnaround time. Before the start of the project, you get to set the deadline for the project and obtain information or input into the task or project by enlisting the help on the Internet. If you achieve your target before the deadline (like Kickstarter for example) you can choose to either continue with the campaign or even close the application.

For small businesses, this means that the company does not need to hire people in specific roles when they cannot foresee their future needs yet, nor do they need a full-time worker in that position.

As for startups, crowdsourcing adds value to the organization when the startup knows they can rely on the resources needed to set up the project, at a lower cost.

Customer support from the public

Consumers are not employees. This means organizations cannot contain or control them the consumers’ attitude. And your feedbacks will most likely be authentic as well. The customers just want the best of the project and they’re not in the position of getting fired for giving a genuine feedback.

Cost control and reduction

Crowdsourcing reduces costs by replacing expensive service providers with reasonably paid contractors without compromising the quality. You can also enlist services from the public (i.e. crowdsource from marketplace like Upwork, or Freelancers)

In the long run, these savings can pile up to be significant in value. And if you’re dissatisfied with the service of your contractor, you can always choose a better one without high compensation.

Balance between the Supply And Demand chain

The beauty of crowdsourcing is that it adds value to the market that combines supply and demand, aimed to solve issues, reduce the expenses, and most importantly, attract the best minds out there to tackle specific issues.

Everything your business needs to survive is enclosed in one package.

Whatever the economy a company allocated for a project or problem, it is impossible to hire every professional in just a time. By adopting multidimensional results based on the incentive model, this is the most logical way to do things.

Like under this one big umbrella of crowdsourcing…

Image Credit: Ebizq

Check out some really cool crowdsourcing projects here.