Posts Tagged ‘wisdom-of-crowds’

Brett Hurt Multichannel Leverage of Reviews, Ford’s Challenge, and the New Seven Wonders

May 24th, 2007 by Brett Hurt Founder and CEO

Aloha from beautiful Maui!  Debra and I are on vacation with our daughter, Rachel, celebrating our 11-year wedding anniversary.

During a little downtime this week, I have seen three profound examples of user-generated content in action:

1. Today, MarketingSherpa released a new case study on how President's Choice (large Canadian grocer) is leveraging online customer reviews of their private-label products in their stores, circulars, loyalty program, and product lab.  It is well worth the read; it is one of the most powerful multichannel examples that we have worked on with any client to date.  I also encourage you to look at the creative samples they provided.  Note that free access is only available for seven days from the publish date.

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Brett Hurt Word-of-Mouth Wisdom #5: Josh Kopelman, First Round Capital

March 17th, 2007 by Brett Hurt Founder and CEO

For the fifth installment of my Word-of-Mouth Wisdom interview series, I decided to tap our investor base.  At Bazaarvoice, we are fortunate to count six serial entrepreneurs as investors in our company.  One of them is Josh Kopelman, the founder of Half.com and a prominent figure in the Web 2.0 scene.  Josh calls himself a "coastally challenged VC" on his blog "Redeye VC" because he is based in Philadelphia.  But you wouldn't know it because his investments are in some of the most prominent early-stage companies that I know of.  His portfolio includes companies like 1-800-FREE411 (currently owns 6% of the 411 market out of nowhere), Aggregate Knowledge (a recent Bazaarvoice partner), Krugle, Riya, Root Markets, StumbleUpon, VideoEgg, Wikia, and YackPack.  I can tell you from personal experience that Josh is an extraordinarily helpful investor.  His connections are extraordinary and his entrepreneurial experience is incredibly impressive.

Word-of-Mouth Wisdom Interview Series

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Brett Hurt The Age of Crowdsourcing and Word-of-Mouth Research

May 29th, 2006 by Brett Hurt Founder and CEO

"Welcome to the age of [crowdsourcing].  Just as distributed computing projects like UC Berkeley's SETI@home have tapped the unused processing power of millions of individual computers, so distributed labor networks are using the Internet to exploit the spare processing power of millions of human brains".

- from Wired Magazine, "The Rise of Crowdsourcing", pages 177-183, June 2006

As I was reading my latest Wired magazine, I was really struck by this article.  The Internet has revolutionized business in so many ways, but "crowdsourcing" may be the most revolutionary application to date.  Think of Wikipedia, Linux, eBay, YouTube, Google's ads, and the many other businesses that have been created by connecting the power of the crowd via the Internet.

So how does crowdsourcing apply to eCommerce?  Well, it is leading to the creation of entirely new businesses.  For example, look at Threadless.com.  It is on track to earn more than $20 million in revenue this year by crowdsourcing designs for t-shirts.  They sell one-of-a-kind shirts that are vetted by the crowd as the best.  You can see something similar happening on Zazzle, which has a more professional feel (not as much of a MySpace community feel as Threadless.com).  In addition to t-shirts, Zazzle lets you apply the crowdsourced designs on posters, mugs, postage, and cards.  Although you could dismiss these businesses as too niche or fringe to matter, it would be a mistake to do so.  They are revolutionizing merchandising by crowdsourcing. 

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