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By Shelley Kuipers, CEO, Chaordix. Presented at Crowdsourcing Week Europe 2014. Join us at the next event: http://crowdsourcingweek.com/
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Shelley Kuipers, Founder & CEO Crowdsourcing Week Europe 2014
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“New market winners will synthesize chaos and order.”
Chaordix [kay-‐‑or-‐‑dix] is the global standard in crowdsourced brand
and product innovation.
– Dee Hock, VISA® credit card founder, and author of the book: One from Many, VISA® and the Rise of the Chaordic Organization
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5 things your crowd can do for you… and why you should
care.
The 5 Things
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1. offer new product ideas
The 5 Things
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Scale predictive insights Decrease product failure rate Maintain and grow market share
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Over 5 years, MyStarbucksIdea brought to life crowd generated 277 ideas (through 150,000 ideas and 2,000,000 votes).
Source: Starbucks
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New products have a failure rate of 25-‐‑45% For every 7 new product ideas 4 enter development …and only 1 succeeds
Source: PDMA 2013
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…sales revenues from user generated products were three times higher and gross margins four times greater -‐‑ than those of designer-‐‑generated products. and cut costs by 4%
Source: Muji
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2. advocate for your brand
The 5 Things
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Go beyond the “like” Honor the crowd’s co-‐‑ownership of your brand Guide their missions
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”We need to remember that they aren‘t actually fans, that is just what Facebook calls them, they are often just people that have been recruited by competitions and they aren‘t really engaged. Now we are using social media to feed into innovation and research and development.”
Source: Unilever
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70% of consumers trust recommendations from friends, but only 10% trust advertising.
Source: Forrester 2013
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6,300 fans, in 105 markets with more than 1,000,000 contributions of insights, ideas, content development & sharing… it’s an expanded marketing team.
Source: HTC
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3. create content
The 5 Things
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Content creation is costly The crowd wants to create After content + community then comes commerce…
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A Super Bowl ad spot costs you $1M+, …delivered in 4-‐‑6 months. Crowdsourcing your advertising content costs you $200K for 4 videos, in 6 weeks.
Source: Tongal
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Of all the LEGO content on YouTube, 99% is created by LEGO users, not by LEGO…
Source: LEGO
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Content + Community + Commerce content -‐‑ provided by consumers & pros community -‐‑ context & connectivity created by and for users commerce -‐‑ products tagged & ingested for seamless purchase
Source: Mary Meeker
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4. solve social & environmental problems
The 5 Things
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Make the cause accessible Share knowledge & experience Connect the right people to create solutions
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An estimated 20.9 million men, women and children are exploited and enslaved around the world today (27% are children). USAID commissioned the Challenge Slavery community, reaching out to students, professors, and scholars at think-‐‑tanks in the U.S. and overseas.
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The Challenge Slavery Community educated students about the scope and nature of human trafficking and enabled students across the world to engage with each other and experts. Participants took action in 3 distinct ways: 1) Discussion forum 2) Tech contest 3) Research competition.
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The result: 3 Virginia Tech students developed a prototype browser extension that would inform online consumers of the impact of their purchases, through a brand rating system. hpp://abolishop.org/
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5. accelerate cultural change
The 5 Things
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Engage and connect your team Create transparency and encourage democracy Empower employees to enact positive change
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80% of employees globally disengaged at work.
Source: Gallup
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8 problems that teams will encounter: • Absence of team
identity • Difficulty making
decisions • Poor communication • Inability to resolve
conflicts • Lack of participation • Lack of creativity • Groupthink • Ineffective leadership
Source: HBR
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By 2025, Millennials will be 75 percent of the workforce…. When Millennials don’t find purpose in their work, many times they go outside the organization, volunteering or even quiping their jobs.
Source: Aaron Hurst
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Participation is the new brand.™
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#crowdsourceme @Chaordix