Crowdsourcing lessons from the frontline from Crowdicity

transcript

CROWDSOURCING

Lessons from the frontlineCrowdicity

nick.wright@crowdicity.com +44 (0) 115 948 6907www.crowdicity.com

twitter.com/crowdicity

Nick WrightCrowdicity Founder• Leading exponent in crowdsourcing and

open innovation• Founder Crowdicity• Entrepreneur and hard worker

Nick Wrightnick.wright@crowdicity.com

www.crowdicity.com +44 (0) 115 948 6907

• Crowdsourcing• Open Innovation• Crowd Accelerated Innovation• Mass Collaboration• Wisdom of the Crowd

Terminology

Nick Wright

nick.wright@crowdicity.com www.crowdicity.com +44 (0) 115 948 6907

It’s all about Innovation. The desire to improve, incrementally or radically.

Defining Characteristic

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From www.dailycrowdsource.com• Virgin Crowdsources Australian Radio• Accenture Innovation Award goes to book crowdfunding

platform• Crowdsourcing helps patients find quantative data on

ailments• Crowdsourcing heralds new era in Government

efficiency

Who’s Doing it, Now!

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• Increases your chances of discovering a breakthrough solution

• Speed • Ease of adoption• Fosters a group identity• Cost

Why think about doing it yourself?

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• Redundancy of Knowledge• Different perspectives• Missing knowledge

Breakthrough Solution

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• Turbo-charged innovation• Emergent properties• Post, learn, add, re-post

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• We’ve learnt to network & share• To innovate has become second nature• We are at heart social beings

Ease of Adoption

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• Social Identity Theory• Group Identity is strengthened• Community cohesion creates a more valuable

network

Group Identity

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• Crowdsourcing is based on a low cost model• Free to participate• High value outcome for low cost reward

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• Intrinsic• Extrinsic• Peer group recognition

Motivation

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A recent study relating to 80,000 scientific solvers, facing 166 long term challenges, found that 72.5% of winning solvers stated their submissions were partially based on previously developed solutions.

The Answer is out there

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What the study also revealed was that:“The further the focal problem was from the solvers’ field of expertise, the more likely they were to solve it”.

Over all they achieved a 29.5% resolution rate.

I’m no expert

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• Currently around 30 million online users are involved in some form of crowdsourcing, from a possible Internet population of 1.8 billion.

• That number is set to expand dramatically in 2011 and 2012

• Average enterprise community 500 -1,500 members but can be substantially more.

Human Capital

Nick Wright

What is Crowdicity?Crowdicity’s web-based software enables companies to build branded, collaborative communities around internal and external audiences , customers, members, suppliers to gather ideas, new perspectives, views, insights, trends and knowledge, in real-time.

020 3371 1461www.crowdworks.net

Jason.burrows@hubbubideas.com

Just a few of the organisations using Crowdicity…

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The Big Benefits Crowdicty Delivers1. Crowdicity allows you to tap into your organisation’s external

intellectual capital; harnessing collective brain power of your customers / suppliers etc

2. It provides real-time market research for testing and adopting new ideas and services.

3. External knowledge is widely dispersed, Crowdicity provides the cost-effective means to harness and benefit from this dispersed knowledge

4. It helps accelerate the speed you can identify, discuss and adopt innovative products, services and business practices – months not years

At Crowdicity we believe..• A good idea can and does come from anyone and

anywhere• Good ideas are always in fashion• Collaboration is an essential part of business life• Open collaboration actively engages customers in your

products, services and business and helps identify new opportunities

• Wisdom of the Crowd identifies what’s most relevant and important to the community

• Crowdsourcing is a viable alternative to traditional ideas generation that is proven to work more effectively in creating breakthrough solutions.

• Openness and transparency helps to create trust amongst customers and promotes participation and builds brand engagement.

At Crowdicity we believe..

Nick Wright

Any questions?Find out more : www.crowdicity.com

+44 (0) 115 948 6907www.crowdicity.comtwitter.com/crowdicity

Crowdsourcing lessons from the frontline from Crowdicity

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