Forum for students of Contemporary Issues in Marketing (Internet and E-commerce)in the Graduate Certificate of Marketing at Holmesglen Institute.
Tuesday, April 22, 2008
The Wisdom of Crowds - the 2020 Summit
The involvement of 'clients' as active participants in an organisation's functions takes an interesting turn when it uses the internet. Here are two examples:
1. American Express Members Project
http://www.membersproject.com/
2. Australia 2020 Summit
http://www.australia2020.gov.au/
Q1. What are the similarities between the two intiatives?
Q2. How can the internet be best used in these cases?
Q3. What are the implications for marketing?
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1 comment:
Crowd sourcing was once described as lazy marketing, but is now accepted as a useful way to tap into the hearts and minds of the audience.
One of the difficulties however is trying to wrap up all the information provided by the public into some actionable items. The 2020 summit is a good example of information overload, requiring some subject decisions on what are the priority items. The AMEX promotion will also come down to a subjective analysis to determine which project wins and gets funding.
The risk with this type of market research is that it is hard to put any statistical analysis around it, so drawing conclusions that can help marketers might be hard.
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