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Join us for an exclusive webinar with the authors of Crowdstorm: The Future of Innovation, Ideas and Problem Solving. This book and author discussion is the first (and the only one open to non-members) for the Social Business Book Club, brought to you by Wiley and Social Media Today. Talk to the authors and ask questions pertaining to their book. We will be giving away a free book club membership to one of our lucky participants! Follow along using the hashtag #socbizbooks throughout the webinar.

Crowdstorm explains how to leverage external networks to solicit, refine, and select ideas for innovation, no matter the size of the business. Learn the processes and gather the right tools for mass collaboration, and motivate talent to improve their approach to complex problem solving, idea creation, and innovation.

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  1. 1. The Future of Innovation, ideas and problem solving Shaun Abrahamson Peter Ryder Bastian Unterberg February 3, 2014
  2. 2. 157,34 5 Join the Conversation… #SocBizBooks
  3. 3. AGENDA • Background and Context  What Have Crowds Been Doing • What’s Next • Why Process (And Technology) Is Important • Case Study  Jovoto’s Processes, Platform and Community in Action
  5. 5. “Re-Imagination of Nearly Everything – Powered by New Devices, Connectivity + UI + Beauty” “Magnitude of upcoming change will be stunning” “Re-Imagination of R&D … Minted: 85K Designs Submitted, 4MM Monthly Visits Quirky: 87K Designs Submitted, 365K Registered Users” Mary Meeker, partner KPCB Crowds in the “Re-imagination” landscape Analysts See Crowdsourcing Trending Based on Connectivity
  6. 6. “…thanks to the merger of globalization and the IT revolution … which is radically transforming how knowledge and information are generated, disseminated and collaborated on to create value … the high wage, medium-skilled job is over.” “To be in the middle class you may need to consider not only high skilled jobs, but also more non-traditional forms of work… a form of entrepreneurship. This could be leveraging your skills through Task Rabbit … or your spare bedroom through AirBnB.” (Quoting McKinsey Global Institute) Thomas Friedman, NY Times, Nov 10, 2013 2013 Crowds in the “Re-imagination” landscape Analysts See Changes In The Workforce Environment
  7. 7. “Given that production could be carried on without any organization that is, firms at all, why and under what conditions should we expect firms to emerge?” Ronald Coase, About 75 years ago WHERE HAVE CROWDS COME FROM Firms Before Crowds – A Function of Transaction Costs
  8. 8. Experimentation, New Technology/Business Models and … CROWDS ARE HERE BRIGHTIDEAS
  9. 9. Labor Capital Assets Influence Data Sharing, Commenting, Reviewing Open Innovation, Co-Creation, Micro Tasks Crowd Funding, Crowd Lending Collaborative Consumption Collective Intelligence, Analytics, Algorithms New Buzzwords Based on Lower Costs/Broadband/Markets PUTTING CROWDS IN CONTEXT
  10. 10. Source: Mary Meeker presentation at All things D. Disruption to existing business and … Wikipedia Peer Production
  11. 11. COMPLIMENTING/CHANGING EXISTING MODELS - Increase Product Throughput – Getting Ideas - Shift from Internal to External: 90-10, 50-50 - Speed to Innovation - Engaging Nimble Partners – Finding Talent - Harness Corp. Assets, Reduce Time-to-Mkt. - Empower/Transform Internal Organization - Improve Return on Investment - Evaluating Ideas - A New Business Model Global Companies and Startups Using Crowds to Unlock Value
  12. 12. Many Organizations Try Crowdsourcing With Mixed Results BUT NOT EVERYONE IS SUCCESSFUL
  13. 13. Alex F. Osborn (the O in BBDO) “when it comes to thinking, let’s try to act as if we were two people – at one time, a thinker upper, a producer of ideas; at another, a weigher of ideas” About 65 years ago Lower Costs + Internet Scale +Brainstorming = Crowdstorming A SOLUTION: BRAINSTORMING TO CROWDSTORMING
  14. 14. NEXT STEP: SEEING CROWDSTORMING AS PROCESS Structured and Repeatable
  15. 15. What’s Next: Process
  16. 16. ASK THE RIGHT QUESTION Asking a “Virtual Community” vs. Issuing a RFP
  17. 17. ASK THE RIGHT QUESTION Source: Business Model Canvas, Alexander Osterwalder, Yves Pigneur Outcome: What Should We Innovate + working with local governments on recycling + working with cup manufacturers on recycling cup materials + working with leading academic institutions to find new solutions + can we make it easier to reuse cups and reduce the need for recycling? + can we make it easier to recycle? + can we ask customers to help us to encourage behavior changes? + can we reward “good” behavior? + can we efficiently generate awareness and ultimately participation? + can we find additional partners by looking to our customers? (designers, engineers, marketers, artists, analysts, etc) + can we build on the success of programs like My Starbuck Idea?
  18. 18. ASK THE RIGHT QUESTION Story and Inspiration: How ShouldWe Ask
  19. 19. MoneyExperience Attention Good Stuff FAIR INCENTIVES “GAMES” Motivate the Crowd
  20. 20. Financial Reward Good, Money, Attention FAIR INCENTIVES Good: “Ecoimagination helps our customers save billions of dollars and reduce their environmental impact.” Attention: Media campaign, website, public announcement of winners Money: $500K in prize money; over $50M in investment Result: GE has brought over 100 products to market since launch in 2005
  21. 21. FAIR INCENTIVES Transparent and Delivering on Promises
  22. 22. FAIR INCENTIVES A Little Bit of Alchemy
  23. 23. RECRUITING TALENT/BUILDING COALITIONS Recruiting a Community is a Little Like Marketing a Product
  24. 24. Existing Platform/Community Celebrity Judges Media Partners (15M Media Impressions) Coalition Partners: Expertise and Media RECRUITING TALENT/BUILDING COALITIONS
  25. 25. Coalition Partners: Existing Crowd and Branded Market RECRUITING TALENT/BUILDING COALITIONS Existing Platform Market Partners
  26. 26. HOW YOU EXECUTE DoYou Want Ideas … Feedback … Evaluation … Continuum of Community Relationships Patterns
  32. 32. END-TO-END CROWDSTORM PROCESS Idea Creation, Feedback, Evaluation
  33. 33. SOCIAL CREATIVEPROCESS Challenge, Competition, Social,Transparent
  34. 34. FINDING THE PEARLS Multiple Evaluation Layers
  35. 35. PLANNING THE PROJECT SET-UP OPEN SOCIAL CONVERSATION Turning the challenge into a media event
  36. 36. PLANNING THE PROJECT SET-UP LIMIT PARTICIPATION To Support Legal Concerns: IP Management, Confidentiality
  37. 37. Best Case – Victorinox Swiss Knifes Selection Process Involved Crowd, Experts and Fans TASK: Designs uniqueness „more than a red pocket knife“ that would evoke impulse purchases. SET-UP: Open, Social Challenge with multiple evaluation layers. RESULTS: 1300+ design concepts in thousands of versions Best selling design edition
  38. 38. The Future of Innovation, ideas and problem solving Shaun Abrahamson Peter Ryder Bastian Unterberg February 3, 2014