{"id":14275,"date":"2019-06-19T00:00:00","date_gmt":"2019-06-19T00:00:00","guid":{"rendered":"https:\/\/blog.planview.com\/using-crowdsourced-innovation-in-the-real-world\/"},"modified":"2022-04-05T15:54:29","modified_gmt":"2022-04-05T20:54:29","slug":"using-crowdsourced-innovation-in-the-real-world","status":"publish","type":"post","link":"https:\/\/blog.planview.com\/using-crowdsourced-innovation-in-the-real-world\/","title":{"rendered":"Using Crowdsourced Innovation in the Real World"},"content":{"rendered":"<div class=\"feature-image\"><img decoding=\"async\" class=\"aligncenter size-full\" src=\"https:\/\/media.planview.com\/spigit-blog-media\/wp-content\/uploads\/2019\/06\/using-crowdsourced-innovation-in-the-real-world-1.jpg\" alt=\"\" \/><\/div>\n<p>Having a well-defined innovation strategy is more important than ever. To keep up with the modern professional landscape, companies must create an innovation culture that constantly looks for new ways to meet the needs of the customer. One way to do that is through crowdsourced innovation.<\/p>\n<p>There\u2019s going to be a time when you don\u2019t have all the answers. It happens to every company at some point or another. Executives and stakeholders can lose touch with their customer base and, despite their best efforts, fail to innovate. The good news is that you can prevent this slump from happening by looking for ideas beyond the boardroom, crowdsourcing employees, partners, and customers for innovative ideas and solutions.<\/p>\n<p>In this article, we\u2019re going to look at crowdsourced innovation and how it can enhance your organization.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_80 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/blog.planview.com\/using-crowdsourced-innovation-in-the-real-world\/#Crowdsourcing_Innovation_Effectively\" >Crowdsourcing Innovation Effectively<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/blog.planview.com\/using-crowdsourced-innovation-in-the-real-world\/#Look_Outside_the_Box\" >Look Outside the Box<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/blog.planview.com\/using-crowdsourced-innovation-in-the-real-world\/#Turning_Ideas_into_a_Reality\" >Turning Ideas into a Reality<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/blog.planview.com\/using-crowdsourced-innovation-in-the-real-world\/#Delivering_Innovation\" >Delivering Innovation<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"header2\"><span class=\"ez-toc-section\" id=\"Crowdsourcing_Innovation_Effectively\"><\/span>Crowdsourcing Innovation Effectively<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Innovation drives companies into the future. According to <a href=\"https:\/\/www.mckinsey.com\/business-functions\/strategy-and-corporate-finance\/our-insights\/innovation-and-commercialization-2010-mckinsey-global-survey-results\" target=\"_blank\" rel=\"noopener noreferrer\">a survey by McKinsey &amp; Company<\/a>, a whopping 84% of CEOs believe that innovation is one of the most important components of a successful growth strategy.<\/p>\n<p>But recognizing the importance of innovation and actually innovating are two different things. Ask any executive what their biggest concern is, and the majority of them will say it\u2019s coming up with new, innovative ideas. Most CEOs are struggling with developing a well-defined innovation strategy that can help them bring their company forward.<\/p>\n<p>This is where crowdsourced innovation can help. And believe it or not, most organizations already use it\u2014just not as effectively as they should. You might see it in the form of a suggestion box or an annual company meeting, but neither of these efforts <em>really<\/em> tap into the wisdom of their employees and make them a core part of the innovation strategy.<\/p>\n<p>So, how do you use crowdsourced innovation effectively?<\/p>\n<p>It all starts with a plan. <a href=\"https:\/\/www.planview.com\/lps\/surveys\/6-ways-build-successful-innovation-program\/\" target=\"_blank\" rel=\"noopener noreferrer\">A well-defined innovation strategy<\/a> that:<\/p>\n<ul>\n<li>Is scalable across participants and geographical location.<\/li>\n<li>Is managed and measured.<\/li>\n<li>Employs multiple techniques and approaches.<\/li>\n<li>Uses technology to deliver maximum efficiency.<\/li>\n<li>Is woven into the fabric of your company.<\/li>\n<li>Connects to your organization\u2019s ecosystem.<\/li>\n<\/ul>\n<p>Innovation must be a collaborative effort that everyone within your organization contributes to. As such, employee engagement acts as an essential ingredient for creating a culture of innovation within your organization. Once you\u2019re able to partner with employees and capture their ideas and solutions, you can use these ideas to enhance your organization in every possible way.<\/p>\n<p>Here are some suggestions to get started.<\/p>\n<h2 class=\"header2\"><span class=\"ez-toc-section\" id=\"Look_Outside_the_Box\"><\/span>Look Outside the Box<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The silo mentality is one of the biggest obstacles between companies and continuous innovation. It restricts the flow of information and ideas throughout the organization, preventing teams from learning other perspectives and gaining valuable insights outside their group.<\/p>\n<p>Just how detrimental are silos to your culture of innovation?<\/p>\n<p>We surveyed program managers in various industries and found that <a href=\"https:\/\/www.planview.com\/resource-center\/?resource_productbd=spigit&amp;resource_languagebd=english\" target=\"_blank\" rel=\"noopener noreferrer\">31% of their solutions came from outside of the assigned group<\/a>. That\u2019s nearly one-third of a company\u2019s ideas and solutions, which probably wouldn\u2019t have been implemented had innovation been confined to departmental silos.<\/p>\n<p>But crowdsourced innovation doesn\u2019t have to be confined to employees within your organization. Customers, suppliers, and strategic partners are all excellent sources for finding ideas and solutions. You can even collaborate with your competitors to innovate and create maximum value that you both can benefit from. Yes, you read that right. Partnering with competitors is known as coopetition and <a href=\"http:\/\/www-07.ibm.com\/services\/pdf\/the_value_of_relationships_in_the_networked_economy.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">it\u2019s a real and effective collaboration tool<\/a>.<\/p>\n<h2 class=\"header2\"><span class=\"ez-toc-section\" id=\"Turning_Ideas_into_a_Reality\"><\/span>Turning Ideas into a Reality<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>You\u2019ve crowdsourced innovation and gathered some excellent ideas. Now it\u2019s time to actually implement those ideas. Of course, this is easier said than done. Too many times have companies implemented changes, only for them to fizzle out once the newness wears off.<\/p>\n<p>How do you maintain enthusiasm and see your ideas transform into innovations?<\/p>\n<p>For starters, you should track the progress of ideas throughout their life cycle, following their progress from start to finish. One way you can do this is by looking at the value your ideas bring to your organization, measuring:<\/p>\n<ul>\n<li><strong>Indirect value: <\/strong>Value in the form of improved behaviors and attitudes. Things like culture change and improved employee engagement.<\/li>\n<li><strong>Direct financial value:<\/strong> Value that can be measured monetarily, looking at things like profit and revenue. Metrics like reduced cost or how new features impact your bottom line are other examples.<\/li>\n<\/ul>\n<p>Along with that, it\u2019s also important to remember that <strong>innovation is everyone\u2019s responsibility<\/strong>. Everyone, from the chief executives to the employees working on the ground, have an equal share in driving innovation across your company. And this works best when crowdsourced innovation is approached as a means to transform the company\u2019s culture, rather than a method of simply churning out ideas and solutions.<\/p>\n<h2 class=\"header2\"><span class=\"ez-toc-section\" id=\"Delivering_Innovation\"><\/span>Delivering Innovation<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Finally, you need to leverage technology to ensure that ideas and solutions are captured and shared across your organization. You can do this with the help of an <a href=\"https:\/\/www.planview.com\/products-solutions\/solutions\/im-innovation-management\/\">innovation management<\/a> platform like Planview\u00ae Planview IdeaPlace.<\/p>\n<p>Here are a few examples of how a crowdsourced innovation platform \u00a0can bring value to companies:<\/p>\n<ul>\n<li>A global aerospace manufacturer reduced maintenance costs and times and improve customer experience. A professional accountant in the finance department came up with the idea of using endoscopes to inspect engines. This ended up cutting maintenance costs by 85% and reducing inspection times from eight hours to one hour.<\/li>\n<li>A Fortune 500 consumer packaged goods company used crowdsourced innovation to help with coming up with ideas for saving money. They ended up finding an opportunity to cut costs by $10 million as a result.<\/li>\n<li>A healthcare insurance company created a culture of innovation that set out to transform and disrupt the industry. Leveraging innovation management software, they created $180 million in new revenue and added six new companies to their portfolio in a three-year period.<\/li>\n<\/ul>\n<p>The right innovation management software empowers organizations to crowdsource innovation from employees, customers, partners, and anyone else who can bring value to your company. You can then choose the best ideas that align with your business objectives and track their performance through all stages of the idea pipeline. That way, you can assess the effectiveness of your innovation strategy, as well as identify various areas you can tweak to help you reach your business goals.<\/p>\n<p>Learn more about crowdsourced innovation and how you can use it to inspire your organization by watching the <a href=\"https:\/\/www.planview.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">Crowdsourced Innovation in the Real World<\/a> webinar. You can also visit the <a href=\"https:\/\/www.planview.com\/products-solutions\/products\/spigit\/\" target=\"_blank\" rel=\"noopener noreferrer\">Planview Planview IdeaPlace<\/a> website to learn more about Planview IdeaPlace and how it\u2019s helped hundreds of companies around the world adopt a culture of innovation.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Having a well-defined innovation strategy is more important than ever. To keep up with the modern professional landscape, companies must create an innovation culture that constantly looks for new ways to meet the needs of the customer. One way to do that is through crowdsourced innovation. There\u2019s going to be a time when you don\u2019t&#8230;<\/p>\n","protected":false},"author":103,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_editorskit_title_hidden":false,"_editorskit_reading_time":4,"_editorskit_is_block_options_detached":false,"_editorskit_block_options_position":"{}","footnotes":""},"categories":[1],"tags":[],"class_list":["post-14275","post","type-post","status-publish","format-standard","hentry","category-innovation-management"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.8 (Yoast SEO v26.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Using Crowdsourced Innovation in the Real World - Blog | Spigit<\/title>\n<meta name=\"description\" content=\"Crowdsourced innovation helps organizations create a well-defined innovation strategy and innovation culture to drive a company\u2019s successful growth strategy.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/blog.planview.com\/using-crowdsourced-innovation-in-the-real-world\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Using Crowdsourced Innovation in the Real World\" \/>\n<meta property=\"og:description\" content=\"Crowdsourced innovation helps organizations create a well-defined innovation strategy and innovation culture to drive a company\u2019s successful growth strategy.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/blog.planview.com\/using-crowdsourced-innovation-in-the-real-world\/\" \/>\n<meta property=\"og:site_name\" content=\"Planview Blog\" \/>\n<meta property=\"article:publisher\" content=\"http:\/\/www.facebook.com\/pages\/Planview-Inc\/89422974772\" \/>\n<meta property=\"article:published_time\" content=\"2019-06-19T00:00:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-04-05T20:54:29+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/media.planview.com\/spigit-blog-media\/wp-content\/uploads\/2019\/06\/using-crowdsourced-innovation-in-the-real-world-1.jpg\" \/>\n<meta name=\"author\" content=\"Guest Blogger\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Planview\" \/>\n<meta name=\"twitter:site\" content=\"@Planview\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Guest Blogger\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/blog.planview.com\/using-crowdsourced-innovation-in-the-real-world\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/blog.planview.com\/using-crowdsourced-innovation-in-the-real-world\/\"},\"author\":{\"name\":\"Guest Blogger\",\"@id\":\"https:\/\/blog.planview.com\/#\/schema\/person\/f7f863dba443d377f486441aeb7a0f62\"},\"headline\":\"Using Crowdsourced Innovation in the Real World\",\"datePublished\":\"2019-06-19T00:00:00+00:00\",\"dateModified\":\"2022-04-05T20:54:29+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/blog.planview.com\/using-crowdsourced-innovation-in-the-real-world\/\"},\"wordCount\":1102,\"publisher\":{\"@id\":\"https:\/\/blog.planview.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/blog.planview.com\/using-crowdsourced-innovation-in-the-real-world\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/media.planview.com\/spigit-blog-media\/wp-content\/uploads\/2019\/06\/using-crowdsourced-innovation-in-the-real-world-1.jpg\",\"articleSection\":[\"Innovation Management\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/blog.planview.com\/using-crowdsourced-innovation-in-the-real-world\/\",\"url\":\"https:\/\/blog.planview.com\/using-crowdsourced-innovation-in-the-real-world\/\",\"name\":\"Using Crowdsourced Innovation in the Real World - 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