If you are reading this blog, you know that ideation and engaging the power of the crowd is at the heart of any innovation program. That’s why we need your input! Planview Spigit is conducting the fourth annual State of Crowdsourced Innovation Management survey and study.
The purpose of the survey is to gather data that highlights industry insights around ideation and crowdsourced innovation programs. Through the research, we examine innovation program performance, identify market trends, and share best practices that drive innovation maturity and business impact.
What’s new? In the past, we have primarily surveyed the Planview Spigit customer base. This year, we are opening it up to the public. We want to gain additional insights into how companies across the globe are tackling their innovation program challenges and how they get the best ideas to market.
Take the survey now.
The 2019 study will compare findings over the years and establish market trends which will be shared in a new market research report coming out this summer. Check out some of the key findings from last year presented in this blog, or download “The 2018 State of Crowdsourced Innovation Report” to take a deeper dive into the findings.
The 2018 State of Crowdsourced Innovation Findings
The following stats represent 21 different industry verticals across Planview Spigit customers.
- 88% of companies use crowdsourced ideation software to generate and capture ideas
- More mature programs (>3 years) are using crowdsourcing innovation tools at all stages of the lifecycle
Takeaway: Companies implement crowdsourcing to generate ideas and improve employee engagement.
- 44% of program sponsors reside in their company’s innovation function
- The other 56% are divided across a wide array of department
Takeaway: There is no single right way to launch and build a crowdsourcing program.
- The best ideas come from areas not directly connected to the problem
- Of those program managers who track it, 31% of ideas selection for action are submitted by someone outside the group or business unit sponsoring the challenge most, nearly every, or every time.
Takeaway: Invite a diverse audience and those not necessarily close to the problem/issue.
- Average companies execute 10 crowdsourcing challenges/ projects each year
- Innovation programs with more than 3 years of experience run 14-15 crowdsourcing challenges/ projects each year
Takeaway: Once crowdsourcing takes hold, it becomes part of the fabric of the culture and how things get done.
The Risks to Success
- 25% of respondents cited their #1 risk is lack of an overall program sponsor
- 33% of respondents cited their #3 risk is lack individual project or challenge sponsor
Takeaway: Mitigate risks by designating teams to own and run challenges – from idea to implementation.
Idea and Implementation Tracking
- 56% identified insufficient follow up as the most frequently cited risk
- 16% currently track end to end process from ideation to market launch
Takeaway: The good news is 65% plan to track implementation going forward.
- 63% lack measurable results as the biggest risk to program success
- 43% not tracking actionable ideas at all
- 43% are tracking ROI on some or all actionable ideas
Takeaway: Ideations teams should include a tracking mechanism for measuring value from the start.
Reporting and Follow up
- 75% report program results to senior levels of the organization
- 18% share program results with all employees (missed opportunity to bring transparency to the process)
Takeaway: Provide reporting to all levels of the organization to promote awareness and inclusion.
Final thoughts: No matter if you and your company are crowdsourced innovation management experts, or if you are just trying to determine how to get started, take the survey. As a token of our appreciation, you will also receive a complimentary copy of the new survey findings when it is available and if you complete the survey and you will be entered in a drawing to win a $250 Amazon gift card.* We look forward to sharing the insights.
*Terms and conditions apply