Crowdsourcing Innovation White Paper
The value of crowdsourcing innovation generated three types of benefits across multiple dimensions:
- Amplification of Member Voice
- 100% of respondents agreed that creating opportunities for customer and employees to have a voice that is heard and responded to was critically important. “Say goodbye to the black hole suggestion box” and hello to ongoing engagement, the open exchange of ideas, and co-creation of solutions. Crowdsourcing innovation expands the diversity and quality of ideas and solutions. It also deepens customer and employee relationships.
- Creation of an Innovation Culture
- Crowdsourcing innovation programs weave innovation into a corporation’s culture. Some respondents noticed that two different cultures may exist. For example, in one company: corporate culture – siloed/hierarchical; crowdsourcing program – entrepreneurial and dynamic. The culture of the innovation program is the desired future state for the corporate culture. The program serves as a catalyst for change. This enables the company to bring about change from the inside (from the program), out (to the corporation).
- In addition, to further instill a culture of innovation, we found that the crowdsourcing process itself adds value and builds a knowledge base for the future when some ideas might be better suited or applicable.
- Generation of Business Value
- This benefit is the most important and has the greatest impact on the long-term success of the organization. Crowdsourcing creates a strategic asset for the corporation. In order to realize this opportunity, the program must align the hard and soft values of the crowdsourcing program with corporate business goals.