Social Media For Product Development

While much has been written about the marketing potential of social media, we often overlook how firms are using the technology to help innovation and product development. How do you actually capture the "wisdom of crowds" and use "crowdsourcing" to drive profitability? This document explores case studies, best practices, and rules of the road for getting engaged communities to shape product design and service development without ending up with (unprofitable) niche end products.