crowdsourcing: 5 ways to a better business
TRANSCRIPT
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
