Since the term crowdsourcing was coined eight years ago, the idea of tapping the knowledge, opinions, and ideas of the crowd has spread quickly and evolved in interesting ways. Today, every industry has examples of crowdsourcing and how it has helped with their innovation goals. In this webinar, Stefan Lindegaard provides history lessons, a present overview and future predictions on the benefits and challenges that come with crowd sourcing. You can listen to a recorded version of the webinar here: http://www.innocentive.com/webinar-replay-power-crowd

1. www.15inno.com
15inno by Stefan Lindegaard at LinkedIn Groups
stefanlindegaard@me.com
Twitter: @lindegaard
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The Power of the Crowd
#powerofthecrowd

2. Sharing is the new norm.
Many companies do not yet get this and many
others struggle on how to make it work, but there
is no way around sharing and collaboration when
it comes to innovation.
This will help bring out better innovation faster
and as such this helps the overall society.

3. #1: Early hype, status today and the future
#2: Examples: Work, Innovation and Funding
#3: Cases: LEGO, Amazon and Coca-Cola
#4: The motivation for people and companies
#5: Getting started – and getting to next level

4. What is crowdsourcing?
“Crowdsourcing represents the act of a company
or institution taking a function once performed by
employees and outsourcing it to an undefined
(and generally large) network of people in the
form of an open call…” Howe
”Online, distributed problem-solving and
production model.” Brabham

5. WORK
PRODUCTS FUNDING
INTER-
MEDIARIES
COMPANIES
PUBLIC

6. 6

7. 7
The hype is over – what happens next?

8. Lots of early interest – but where is the data?
Only 4 ppl of 60 in audience have run innovation
challenge! Only 8 expect to run future challenge.
Lots of room for potential! #CoDev2014
Already established in B2C because of combined
marketing and innovation benefits
B2B is slower – less visible, fewer but bigger
customers (more OI than crowdsourcing)

9. Social media is key for crowdsourcing
LEGO went out of comfort zone, partnered
with another company
Do you know your external touch-points? Do
you use them properly?

10. Can crowdsourcing change an industry?
Creative processes can becrowdsourced
The key is to get community engaged, active
Crowds often have a herd mentality – Don’t
forget this!

11. Innovation intermediaries like InnoCentive
also work for startups!
$ 250,000 already spent – an extension of
R&D budget with great results (982
solvers, 78 solutions in 62 days)
“It took me 18 months to develop my initial
product. With InnoCentive and my second
product, the research to prototype took two
months.”
Mark Bent, CEO, Sun Night Solar

15. Design, build and sell awesome products
together.

16. Is the real business model facilitation?
1. Develop a community
2. Make it work in chosen area (vehicles)
3. Move into other industries (complex
mechanical devices)
This can work for startups. What about bigger
companies? A way for new business areas?

17. Differences:
B2B less visible due to fewer, bigger customers
B2B has longer development cycles
B2C closer to customers = more open mindset?
B2B has more engineers; B2C has a more
holistic approach

18. Similarities:
The real work happens behind the scenes (back-
end, execution more important than ideas)
Same issues on innovation management
(executives, culture, int+ext, communication)
Challenge-driven innovation works for everyone
Future winners innovate through communities

19. Benefits – People and Companies

20. People:
- Financial compensation
- Learning opportunities
- Enjoyable process
Companies:
- Marketing as well as innovation vehicle
- Access to new knowledge pools
- More cost-effective than hiring consultants
- Experimentation (don’t be left behind)

21. Crowdsourcing – Marketing or Innovation?

22. Dell IdeaStorm: 3%
My Starbucks Idea: Less than 0,5%
Does it really matter? Yes and No!
- different objectives, different approaches
- impact on internal understanding of innovation
LEGO Cuusoo: 6 projects in 2 years

24. Clear focus (specific challenges) in different
approach (challenge+community+funding)
Bring great partners together (develop
community, provide funding AND knowledge)
Very strong communication efforts (many
platforms, clear messages)
Good execution on ideas (together with partners)

25. Piloting, trying, failing, learning from failing
Siobhan Gomis, InnoCentive
- Only way to appreciate power of challenges is
to do it (learning experiment)
- Engage high level of cross-functions people in
team
- Know exactly what challenge is (keep it
simple, be open)
Lisa Inoue, Dow Chemical
Lessons from #CoDev2014

27. Who is more suitable for the job?
What is the most suitable form of campaign?
What crowd size works the best?
Good comments:
http://www.15inno.com/2012/07/04/rightpla
tform/

28. Joinmy Innovation MasterClass for
corporate innovators!
Great resourcesonInnoCentive.com
Get in touch!
www.15inno.com
15inno by Stefan Lindegaard at LinkedIn Groups
stefanlindegaard@me.com
Twitter: @lindegaard
Hey! Freebookson 15inno.com!