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In February 2013, CEO of IdeaScale, Rob Hoehn presented at Crowdopolis on the subject of crowdsourcing and five best practices related to creating a successful and engaged innovation community that generates great ideas and suggestions for the enterprise.
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Takeaways
There Is No ROI on Understanding Alone
! ROI requires action on the part of the implementer. ! There are five metrics for success that you should
consider for your crowdsourcing community: ! Impact ! Reach ! Engagement ! Satisfaction ! Costs of Implementation
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Enter your presentation title here Impact
Impact: How much does an idea/suggestion/feedback help you meet your goal? • Makes assessment easier • More likely to add benefits to business/end user.
How To: define community goals early, assess feedback based on those goals.
Ex: Kane Is Able trucking
The Striker
Enter your presentation title here Reach
Reach: How many people are actually involved in your community? • Helps you manage messaging • Helps you get beyond your regular network
How To: calculate the number of members, but also their networks
Fact: For every fan on Facebook, there are 34 friends that also see activity.
The Host
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Engagement: The number of people that not only contribute, but help build community • Improves participation in a community • Improves the quality of content
How To: reward members not for participation, contributions, but for generating interaction
Fact: Rewarding interaction impact improves idea quality by 40%.
The Engager
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Satisfaction: The level of satisfaction that community feels because they feel heard. • Impacts employee satisfaction/productivity • Impacts brand sentiment/revenue
How To: Moderate and communicate well.
Fact: Repeat customers spend 33% more than new customers. Engaged employees are 78% more likely to recommend a product.
The Cat Herder
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Implementation: The cost of making a great idea into a reality. • Helps company maintain budgetary bottom line • Helps assess ideas based on feasibility
How To: Get senior-level buy-in, understand bottom lines early on.
Fact: The Netflix Prize
The Tesla
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If you go beyond understanding and take action throughout the crowdsourcing process, you stand to improve:
• Participation Levels • Community Sentiment • Business Bottom Lines
For more information and a white paper on the subject, visit ideascale.com/understanding
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