We have been on the (money) receiving end since 1995 and the market has only been growing ever since, maybe with the exception of the dot-com bubble burst times.

However, it seems to me that many customers still do not understand the real value of crowdsourcing when applied to product development. It is not about cost saving, but about utilizing global talent to get to market faster with a better product. And those many who do not get it then blame their outsourcing providers for their product delays and failures.

Great book to read on this subject is "Crowdsourcing: Why the Power of the Crowd is Driving the Future of Business" by Jeff Howe, the guy who coined the term. About 300 pages of great insights and examples of how crowdsourcing is applied to prediction markets, problem solving and product development. Lots of info, but an easy read - I got through it on and off over a few days. Hopefully what you find in the book will help answer your questions...

Hi Steven,

Crowdsourcing is about gathering inspiration from those who are central to every marketing communication: the customers. What is so rewarding is that hundreds of well-credentialed consultants and accomplished innovators from around the world and across as many disciplines as required simultaneously collaborate and contribute their best ideas, advice and solutions to your project.