Crowd-sourcing contests are starting to pull the big bucks
Lay's is offering a cash prize to the person who creates the best new idea for a potato chip with its "Do Us a Flavor" contest. Three finalists will see their inventions realized, then the public will decide on the best one by a vote on Facebook. The grand prize? Either $1 million or 1% of the new flavor's net sales in 2013; the winner gets to choose.
According to Ram Krishnan, vice president of marketing for Frito-Lay, the Facebook contest is the biggest promotion the company has run in its entire history. It's also the first time the food brand has taken crowd-sourced marketing to a U.S. audience. It ran the flavor contest in other nations, which led to new chips that tasted like Caesar salads, shrimp, sausage, and pickled cucumber.
The food industry has been joining the crowd-sourcing bandwagon with more and more high-profile brands. Samuel Adams, Arizona Iced Tea, and McDonald's have recently launched promotions that let customers create new tastes. It's a more corporate, incentive-based approach to crowd sourcing than the immensely popular platform Kickstarter, which has helped many independent thinkers and artists bring their dreams into reality.
[Image credit: stu_spivack]
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