People fear what they don't understand. But we're also drawn to it. The concept of crowdsourcing is no exception to this rule. It is, by its very nature, status-quo-destroying, and more or less goes against what people are conditioned to believe is true about the world. Fear not. Hunting for easily digestible information on the subject, and want the quickest route to getting started? This is the ultimate cheat sheet to crowdsourcing.
Step 1- Understand the Concept of Crowdsourcing
The term crowdsourcing splices together two words: crowd and outsourcing. In this way crowdsourcing occurs when an organization outsources a work project or creative problem to a large group of people. In its purest form, then, crowdsourcing is a process of co-creation between an organization that provides direction, structure, and incentive, and “the crowd” which devotes its time, effort, and abilities to completing a task.
Crowdsourcing projects might assume various forms, but one common application of crowdsourcing is to achieve large, labor-intensive work projects more quickly, easily, and economically.
Through crowdsourcing, large work projects can be broken down into smaller chunks called microtasks and then divvied out to tens, hundreds, or thousands of people for fast, efficient completion. In this sense, crowdsourcing is based on the principle that many hands make light work.
Only crowdsourcing isn’t just about working lighter…it’s also about working smarter.
Step 2 - Get Inspired
Crowdsourcing sounds great, right? Alright, go for it.
No idea what to do?
That's OK, because there are no limits to what crowdsourcing can yield. It's the most awesome, and perhaps even perplexing, aspect of the tool.
Say it aloud "there is no limit to what I can achieve when I harness the power of the crowd," and really believe it. Now, if you don't already have a great idea or fantastic problem (the solution to which will surely change the world), you'll need to get to brainstorming. This is deep blank slate work, so take it seriously. Block your calendar and otherwise set aside a few hours in a peaceful, well-designed space where you can go inside your own head (and heart) and discover what kind of greatness you're yearning for; that's what your crowdsourcing project is best designed around. Read or watch something guaranteed to inspire you, get the empowerment juices flowing, and let it all out. Don't force it into a flowchart or a spreadsheet, just write -- or heck, record yourself talking, or draw. Invite real playfulness and the right-brain will fire up, and that's exactly what you need to get the best results.
Step 3 - Choose the Right Platform
Once the idea locked is in, there are some important questions to ask before selecting a crowdsourcing platform:
- What subject category does this project fall into?
- Does the solution require extremely technical knowledge or specialization?
- Do I already have part of my solution?
- Will this project require more crowdfunding than it will crowdsourcing ideas?
- How much time do I have to personally dedicate to this, and can I afford to outsource some of the effort and design?
Confident on the answer to these? If so, great. If not, spend some more time with your idea before choosing a platform. When you're ready, head over to our handy article on choosing a crowdsourcing platform and learn all you need to decide which is best.
Step 4- Nail Down the Prize Amount
Use this formula: (L+C)DxS= (Prize Amount)
L = Length
How long will your challenge endure? How much time and attention will your average participants need to put into their answer? Is it likely that they spent weeks, months, or years on the answer?
Measure L in weeks. So a 6-month challenge = L(24)
C = Cost
How much money to you imagine your average innovator has put into the creation of the solution? It is important to weigh grant money differently than personal money - i.e. if they have put $1,000 of their own money into the solution C=1000.
If they put $1,000 of grant money into the solution, C=500.
D = Difficulty
What is the Difficulty of your challenge?
Consider this base 10 rating system:
If 1/100 people could provide you a solution, give it a difficulty score of “1”. If 1/1,000 people might be able to create a solution, score it “2”; 1/10,000=3; 1/100,000=4; 1/1M=5; 1/10M=6; 1/100M=7; 1/1B=8; 1/10B (the world population)=9
As for scoring your challenge at a “10”... well, you’re essentially hoping for extraterrestrial life or an advanced lifeform from the future to travel back in time and provide you with the answer.
Step 5 - Get Your Story Straight
As with any financing pursuit, some basic pre-existing ingredients are essential for crowdfunding as well. A great idea, the ability to execute it, solid preparation, and good contacts lay the foundation. Content won't go very far, no matter how good it is, without those components. Once they're locked in, you’re ready to mount your campaign. Once it’s up and running, the fun really begins!
Now in the race, don’t be just another face in the crowd. Get the word out about your campaign to everyone you know, personal and professional. This is where content marketing becomes your “most valuable player.” You and your team’s ability to effectively cross-market your online message between emails, blogs, website content, and posts on social media will go a long way towards the success or failure of your effort.
And don’t forget that the campaign you create at your funding site, the tangible selling tool that motivates everything, is also a major ingredient (if not the most important one) in your content marketing drive! These pages include an overview of your venture, usually, incorporate a video, and provide background information on you and the members of your team.
