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.

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