How to use crowdsourcing to validate market-research

How to use crowdsourcing to validate market-research

While traditional market research techniques like customer interviews and competitor analysis can help businesses discover gaps in the market and develop new ideas, crowdsourcing offers a way to validate market research and test new ideas quickly and efficiently. Crowdsourcing involves engaging a large group of people in responding to a defined problem, and allows companies to access a wider pool of talent and expertise. Combining market research and crowdsourcing can result in quality ideas and a wide pool of expertise. By sourcing ideas with market research and then validating them with the wisdom of the crowd, companies can orientate crowdsourcing towards specific, high-potential topics. Using this two-step process, companies can make sure there is a proven need for a new product or service before they launch.

View

More Innovation Resources:

The value of experimentation in innovation

Experimentation is key to successful innovation. By testing assumptions and gathering data, companies can make evidence-based decisions to avoid product failures.

View

What we can learn from disruptive innovation in Asia

Disruptive and radical innovation differ in their approach to creating market-changing concepts. Asian companies like Stashaway and Huawei provide examples of each type of innovation.

View
Innovators are Unreasonable Networkers

Innovators are Unreasonable Networkers

Innovation thrives when people with different experiences and interests interact and exchange new ideas. The best innovators have active networks outside their industry or geography and resist the temptation to merely adapt to current conditions.

View