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What Are Some Examples Of Successful Business Models That Have Been Built On Top Of Crowdsourcing Platforms?

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By Author: Subho Chowdhry
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There are many examples of successful business models that have been built on top of crowdsourcing platforms. Here are a few:

Crowdfunding: This is one of the most well-known examples of a business model built on top of a crowdsourcing platform. Platforms like Kickstarter and Indiegogo allow entrepreneurs and creators to raise funds from a large number of people to bring their ideas to life.

Microtasking: Platforms like Amazon Mechanical Turk, CrowdFlower, and Upwork allow businesses to outsource small tasks, such as data entry, image tagging, and content moderation, to a large number of people. This can be a cost-effective way for businesses to get work done quickly and efficiently.

Crowdsourced product development: Platforms like Quirky and openIDEO allow businesses to tap into the creativity of a large community to develop new products. These platforms can also be used to generate and validate new product ideas, reducing the risk of product development for businesses.

Community-driven e-commerce: Platforms like Teespring and Redbubble allow designers and artists to sell their designs on a variety ...
... of products such as t-shirts, mugs, and phone cases without the need to hold inventory or handle fulfillment.

User-generated content: Platforms like YouTube, TikTok, Instagram, Twitch and TikTok provides a platform for users to create and share content. Businesses can use these platforms to advertise their products or to create branded content that can reach a large audience.

These are just a few examples of the many different business models that have been built on top of crowdsourcing platforms. The key is to find a way to leverage the power of the crowd to create value for your business.

It's important to note that each of the examples I have provided have different methodologies and revenue generation models. And these platforms have their own set of legal and compliance policies need to be aware of before implementing any of these models.

More About the Author

Ambit Technologies (P) Ltd. is a front-line full spectrum web and mobile development company providing result-oriented cost-effective solutions to enterprises - big, medium and small - spread across the world. It is also a reputed IT outsourcing solution provider having catered to customers spread across 78 countries of the world. Ambit Technologies (P) Ltd. strives to keep abreast of the latest of technologies and bring in innovative ideas constantly in the projects it undertakes.

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