There is a lot of information on crowdsourcing and also quite a few examples of who’s done it. In today’s blog post, Betterific would like to share three articles that are particularly insightful regarding the value of crowdsourcing and how best to manage it.
Ms. Jane Park is a former executive from Starbucks who has since founded her own beauty products business. If you’ve read any of our previous posts, you’ll know that Starbuck’s has had huge success with their own crowdsourcing platform MyStarbucksIdea. Ms. Park’s new business, Julep, uses crowdsourcing for product development. “For many companies, crowdsourcing is most valuable for product development and marketing–two areas where customer feedback is worth its weight in gold. At Julep, we’ve integrated the wisdom of the crowds directly into the product development process, creating over 300 new beauty products in 2013 alone based almost entirely on customer feedback,” writes Ms. Park.
The three tips this veteran maven gives are:
Go all in.
Pick one or two focus areas.
Ask the right question.
This is a fantastic article, so please do read it for Ms. Park’s full advice if you’re tentatively exploring crowdsourcing as a tool for your own product development or marketing campaigns.
This article is in fact a case study published by Marketing Sherpa, a research institute specializing in tracking what works in all aspects of marketing. We find this case study particularly interesting because it focuses on a B2B company, Madison Electric Products, in a particularly un-glamorous industry – electrical products for electricians.
Here’s a short tid-bit from the article:
“Fisher said the team was coming up with ideas to provide value in the industry, and understood adding new products that electricians would find useful would be a powerful marketing tool. ‘We could spend months and months trying to dream up ideas, going through prototyping and focus groups,’ said Fisher. ‘We decided that we wanted to crowdsource our new product development through our social channels.’ This effort accomplished a couple of goals: – Shortened the product development lifecycle, – Created new products that were validated by Madison’s customers because they were designed by the customers.”
The highlights from this case study:
Crowdsource new product development.
Keep the process simple.
Promote the effort through social channels.
Promote the online portal through multiple channels (not just digital).
Utilize innovative channels to become an industry thought leader.
This too is a fantastic example of how a company can draw huge benefits from crowdsourcing in an effective and organized way. Be sure to read this article because Madison saw big increases in their sales as a result of these efforts.
This article is written by Retail Category Consultants, a Canadian retail consultancy firm with clients across North America in the grocery, specialty, department store and drug segments. Here again you’ll find some good insight into how to run a successful crowdsourcing campaign.
What should you do according to this article?
Use existing customers first.
Let Participants know they matter.
Promote through PR communications to maximize audience reach.
Be sure to read through these articles carefully and prepare a plan on how to effectively utilize this fantastic marketing and product development tool. On behalf of the Betterific crowdsourcing happy community, thanks for reading and happy innovating!
Written by Gwen Gurley