crowdsourcing: 5 ways to a better business

Crowdsourcing: 5 ways to a better business

DIGITAL STRATEGY CONFERENCE 2015

SHELLEY KUIPERS • CEO & FOUNDING PARTNER, BETTER VENTURES

1. are you a REBEL? 2. can you see the FUTURE? 3. what is your WHY?

Questions for you.

1. PEOPLE FIRST

“We have a very simple statement: If we as a corporation take care of our people, then our people will take care of our guests, and our guests will take care of our profits.” – Sean Durfy, former President and CEO, Westjet

2. BIG MISSION & PURPOSE

“I want to create a whole new technology, and one that is aimed at helping humanity at all levels regardless of geography or ethnicity or age or gender.” – Elizabeth Holmes, Founder & CEO, Theranos

3. NEW BUSINESS MODELS

“At Patagonia, making a profit is not the goal because the Zen master would say profits happen ‘when you do everything else right’.” – Yvon Chouinard, Founder, Patagonia

4. RELENTLESS COMMITMENT

“Your personal core values define who you are, and a company's core values ultimately define the company's character and brand. For individuals, character is destiny. For organizations, culture is destiny.” – Tony Hsieh, CEO, Zappos

5. THE FUTURE IS PARTICIPATION

“I also tell customers that they fulfill another vital role: They are an avenue to the truth. And in today’s world, a CEO needs every avenue to the truth that he or she can find..” – Jørgen Vig Knudstorp, CEO, LEGO Group

1. People First 2. Big Mission & Purpose 3. New Business Models 4. Relentless Commitment 5. The Future Is Participation

5 WAYS TO A BETTER BUSINESS SUMMARY

but what can you crowdsource and why?

1. PRODUCT IDEAS INSIGHTS, IDEAS & INNOVATION

3× SALES REVENUE PROFIT MARGIN

4× SOURCE: MUJI

2. BRAND ADVOCACY

70% OF CONSUMERS TRUST

RECOMMENDATIONS FROM FRIENDS

10% OF CONSUMERS TRUST

ADVERTISING

SOURCE: FORRESTER

BUILT ON TRUST

3. CONTENT CREATION SUPERBOWL AD CREATION

Time required

6 MONTHS

CROWDSOURCING

Cost $200,000

TRADITIONAL

6 WEEKS

$1M+

CROWDSOURCING

TRADITIONAL

SOURCE: TONGAL

4. SOCIAL INNOVATION WE CAN MAKE A DIFFERENCE

9.4M OF THE WORLD’S POOR HELPED

THROUGH MICRO-FINANCE

SOURCE: UNESCO

5. EMPLOYEE ENGAGEMENT & PRODUCTIVITY

80% OF YOUR EMPLOYEES ARE

DISENGAGED

25% PRODUCTIVITY INCREASE BY TAPPING YOUR HIGH-SKILLED

KNOWLEDGE WORKERS

SOURCE: GALLUP AND MCKINSEY

ORGANIZATIONAL & CULTURAL IMPACT

1. Product Ideas 2. Brand Advocacy 3. Content Creation 4. Social Innovation 5. Employee Engagement & Productivity

5 CROWDSOURCING OPPORTUNITIES SUMMARY

3 entrepreneur tips

1.  BELIEVE IN YOURSELF

2. SURROUND YOURSELF

3. BUT MOST OF ALL, CULTURE WINS HINT: DON’T HIRE ASSHOLES

“Now, go out there and kick ass.” – Stella McCartney, Fashion Designer

Grab me at the break AND LET’S CONNECT

@shelleykuipers shelley@betterventures.co

www.betterventures.co