With the rise of social media, everyone wants to tap the power of the crowd.
Crowdfunding – we’ve all heard of KickStarter, where people raise money to create a new product or project by pre-selling products online. There are other crowdfunding sites too – IndieGoGo, GoFundMe, CrowdRise and RocketHub. And even equity crowdfunding sites where investors truly get a piece of the company.
Crowdsourcing – is the practice of obtaining information or input into a task or project by enlisting the services of a large number of people, either paid or unpaid, typically via the Internet.
Crowdpromoting taps a community to help publicize a product, service or idea. Crowdpromoting takes community building to a new level, giving community members a joint goal.
There’s also influencer marketing (also influence marketing) which is a form of marketing in which focus is placed on influential people rather than the target market as a whole.