Preview: A Guide for Crowd Companies Members to Aid in Program Development

Jeremiah Owyang and Jaimy SzymanskiVersion 1.0 | August 2016

Collaborative Economy Use Case Playbook: Enabling a Platform Model

Collaborative Economy: Value Chain

Each Business Model Offers Multiple Use Cases for Collaborative Economy Programs

Brand as a Service • On-demand delivery • Subscription model• Rental model• On-demand services

Marketplace Model• Used goods marketplace• Service provider network

Enable a Platform • Crowdfunding • Co-innovation of ideas• Makers’ partner• Crowd-based supply chain• Crowd-based marketing• Crowd-based customer care

Supplemental• AdvertisingEmerging: Autonomous World

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“Enabling a Platform” Use Cases• Crowdfunding: Funding a project or venture by raising many small amounts of money from a large

number of people, typically through an online platform. Can be used externally and internally.

• Co-Innovation of Ideas: Turning to internal (employees) or external (customers, public) crowds to submit ideas for innovation, solve problems, create products and services, and identify new opportunities for your business.

• Makers Partner: Partnering with "Makers" - individuals and groups that physically or digitally make craft goods - to produce new, interesting, and/or authentic products that complement your brand's existing product or service line.

• Crowd-Based Supply Chain: Using crowd-based workers to improve and/or bring efficiencies to your supply chain in delivery and shipping, storage, risk management, and product innovation.

• Crowd-Based Marketing: Seeking input from your followers and customers to efficiently create and ideate new, diverse content campaigns and initiatives.

• Crowd-Based Customer Care: Harness informed customers and experts to field support questions and tasks for your products and services in place of, or in addition to, an internal customer service department. Crowd-based customer care is often cheaper and more efficient.

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Descriptions

Enabling a Platform Business Model Crowdfunding

Definition Funding a project or venture by raising many small amounts of money from a large number of people, typically through an online platform. Can be used externally and internally.

Purpose or Situation

Works well for funding product innovation in retail and CPG, as well as for nonprofits. Can be used for education and market research in any industry.

Resources Required

Platform that allows for multimedia product specifications, accepts monetary donations (either third-party or internal build), and accepts ideas, depending on program specifics. Market research and customer research resources to validate product gaps and needs. Ability to quickly prototype products. Staff resources and innovation program to move newly funded products into production.

Measurement • Projects hosted and projects live• Money raised• Number of donors and donation amounts• New customers reached• Projects that reach goal and projects produced • Product development time• Pre-orders and sales of crowdfunded products• Early adopter feedback• Press and social engagement

Enabling a Platform: Crowdfunding

Credits: Indiegogo

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Implementation Process

1. Decide whether you will host an external or internal crowdfunding program, and set program goals and KPIs. External programs will require eventual marketing resources, while internal programs will require additional budget to supply employees with funds to "donate" to projects.

2. Select the project(s) to be crowdfunded. These may be ideas submitted by intrapreneurs or product innovators, or ideas submitted from the crowd. Typically crowdfunded projects are those products that have passionate niche audiences and/or offer unique value propositions.

3. Select enterprise crowdfunding vendor or build platform internally that can host projects and allows for user accounts and donations.

4. Set up project pages and open for donation - either internally or externally. Include multimedia capabilities. Consult with vendors for recommendations on optimizing product pages.

5. Consider special placement (advertising) available when using vendor platforms.

6. Measure results and engagement during and after product launch.

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Enabling a Platform: Crowdfunding

Credits: Indiegogo

Interested in the full Enabling a Platform playbook? Contact Jeremiah@CrowdCompanies.com to learn more about

becoming a Crowd Companies member!