There is a Crowd in Your Future
A small company of five employees that builds watches recently raised over $10,000,000 to produce their watch! I admit, the watch is really cool and neatly designed, but still, the funds they raised are huge for such a small start-up company that builds something as common as a wrist watch.
So how did it all happen? The creators of Pebble turned to the crowds to help them fund their idea using the crowd funding platform KickStarter.
KickStarter, along with other similar services, is transforming the Venture Capital industry and expanding the concept into areas where venture capital was not a common way of raising funds. This is not the only area in the Financial Services industry that is going through transformation. Prosper, Zopa and Social Lending are just a few of the companies that are leveraging crowdsourcing to radically change the way we take loans by enabling P2P loans.
Crowdsourcing is everywhere and it will soon affect the business that you are in. This is a great opportunity for organizations to use the power and wisdom of your communities in new and innovative ways. Your customers andemployees are a terrific source to help drive your business in the right direction.
At ClickSoftware we’ve been using the brains of our employees to drive innovation in our products. Other companies, such as 3M, are using Web 2.0 platforms and the collective knowledge of their workforce to devise new strategies and identify new market opportunities. It is very common for field teams in a service organization to know many things about the business that corporate doesn’t have exposure to, and it can be very beneficial to use the knowledge of those who are closest to your customers to help your organization keep charging forward in the right direction.
Your customers know best what their needs are and where their challenges lies. An effective mechanism, such as our own IdeaZone, to capture this information and align your plans accordingly is of great value to the organization and ensures that you continue to evolve your offering to meet customers’ expectations.
There is definitely a crowdsourcing opportunity coming your way. Make sure you grab it in both hands and make the most out of it.