Crowdsourcing

Source: WSJ, Dec 2010

These days, small businesses are increasingly tapping online communities to save time and money on product development. Some are turning to crowdsourcing sites such as Eyeka, Hypios and Jovoto to quickly generate ideas from freelancers, often through contests, for low fees. Others are using free platforms like Facebook and Twitter, or their own company blogs, to solicit opinions from consumers.

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