Definition - What does Crowdcasting mean?
Crowdcasting is the process of broadcasting a message to specific groups of people to get input on process building methods. A crowdcasting solution allows an organization to cull direct input from its target audience.
In many industries, crowdcasting is commonly used as a new way to build better customer relationship management (CRM).
Techopedia explains Crowdcasting
The first general principle of crowdcasting involves generating project interest and then communicating with a target audience to harness insights for the purpose of building or changing results. An organization identifies a consumer group that is interested in its products and services and has the ability to provide new ideas or feedback. The organization then crowdcasts to that group of people with the goal of eliciting a response.
Crowdcasting elements include contests to drive participation, surveys or other interactive tools that allow consumers to control their experiences. An example is the phenomenon of listener driven radio, where communication companies can obtain listener tips and suggestions on ways to improve broadcasting methods.
Recent business reporting reveals that many blue chip companies have started using crowdcasting instead of paying high-powered marketing teams to create new company strategies.