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Do Customer Communities Pay Off? - Harvard Business Review

Do Customer Communities Pay Off? - Harvard Business Review | OpenBusinessCouncil.org | Scoop.it

We conducted a yearlong field experiment in collaboration with eBay Germany’s managers that involved 140,120 eBay customers. These customers were all active eBay users who had bought or sold on the site within the past three months but had not participated in eBay’s online communities before. From that group, 79,242 randomly selected customers were invited via e-mail to participate in eBay’s customer communities at the beginning of May 2005. They were offered prize incentives such as iPods—worth about €3,000 in total—for doing so. The other 60,878 customers, who were not invited to join the communities, served as the control group.Within three months, 3,299 of the invitees became active community participants, posting messages, joining in discussions, and helping other members. We call these customers the “community enthusiasts.” An additional 11,242 users became “lurkers,” reading others’ posts without actively participating in the communities themselves.

 

Over the course of a year, we compared the behavior of community enthusiasts and lurkers with that of the control group. The differences were astonishing. Lurkers and community enthusiasts bid twice as often as members of the control group, won up to 25% more auctions, paid final prices that were as much as 24% higher, and spent up to 54% more money (in total). Enthusiasts listed up to four times as many items on eBay and earned up to six times as much in monthly sales revenues as the control users. The findings on first-time sellers were even more impressive: Compared with the controls, almost ten times as many lurkers (56.1%) and enthusiasts (54.1%) started selling on eBay after they joined and participated in customer communities.

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OpenBusinessCouncil.org
Our aim is to further the practice of Open Business for the purpose of comms, product and service innovation
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Peterbilt Crowdsourcing Future Big-Rig Designs

Peterbilt Crowdsourcing Future Big-Rig Designs | OpenBusinessCouncil.org | Scoop.it

Big rigs may move the bulk of freight and rule the roads of the US, but their blocky designs aren’t exactly aerodynamic, sucking up lots of fuel as they shuttle cross-country. Plus, they’re just plain boring. So semi manufacturer Peterbilt is looking for more fuel-efficient tractor-trailers by holding a competition in conjunction with open source car company Local Motors to develop innovative aerodynamic designs.

The RIG2: Road Icon Generation 2 contest kicked off June 5 and is open to entries through June 26. Peterbilt is offering up $15,000 in prize money. The overall winning entry will nab $7,500. The second-place finisher gets $2,500 and third earns $1,500. The rest of the top 10 will win $500 each

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Micro-sourcing and Crowdsourcing – similar, but different « blog ...

Micro-sourcing and Crowdsourcing – similar, but different « blog ... | OpenBusinessCouncil.org | Scoop.it
His presentation was titled 'The Latest Trend in Outsourcing: Microsourcing / Crowdsourcing', which he described as being the 3rd wave in Outsourcing (following the wave from IT to Business Process Outsourcing, and the ...
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Research shows higher creative engagement of lead-users and emergent customers | eYeka Co-creation Blog

Research shows higher creative engagement of lead-users and emergent customers | eYeka Co-creation Blog | OpenBusinessCouncil.org | Scoop.it

 

While research about user innovation started in the eighties, more recent research streams focus on the quantification of consumer innovation or the link between creativity and innovation. Recent results from research conducted in France shows similarly interesting results about creativity and innovative behavior.

 

In this blog post, we want to share some interesting findings about lead-userness and emergent nature of French consumers; one of the results being that both lead-users and emergent customers are (much) more willing to co-create that the rest of the French.

 

Main findings:

1) Lead-users and emergent customers represent a small part of the population, but a part that is highly willing to co-create with brands!

2) The people who scored high in lead-userness or emergent nature had engaged much more frequently in these activities, with market research and product reviews scoring highest.

 

So what?

For companies, these results show that not only lead-users but also emergent customers (open to new experiences, creative and optimistic) are both interesting and willing co-creators. This means that, to kickstart co-creation engagement, companies could tap into these minds to increase chances of success – one could even imagine complementary roles between them.

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The 2011 Global Innovation 1000: Why Culture is Key

The 2011 Global Innovation 1000: Why Culture is Key | OpenBusinessCouncil.org | Scoop.it

Year after year, certain companies succeed in producing innovative new products and services, and in so doing generate superior financial results. As our annual Global Innovation 1000 study, now in its seventh year, has consistently demonstrated, the success of these companies is not a matter of how much these companies spend on research and development, but rather how they spend it. This year, we took under consideration two particular qualities — strategic alignment and a culture that supports innovation — that truly innovative companies have put in place that allow them to outperform the competition.

http://www.booz.com/media/uploads/BoozCo-Global-Innovation-1000-2011-Culture-Key.pdf

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Do Customer Communities Pay Off? - Harvard Business Review

Do Customer Communities Pay Off? - Harvard Business Review | OpenBusinessCouncil.org | Scoop.it

We conducted a yearlong field experiment in collaboration with eBay Germany’s managers that involved 140,120 eBay customers. These customers were all active eBay users who had bought or sold on the site within the past three months but had not participated in eBay’s online communities before. From that group, 79,242 randomly selected customers were invited via e-mail to participate in eBay’s customer communities at the beginning of May 2005. They were offered prize incentives such as iPods—worth about €3,000 in total—for doing so. The other 60,878 customers, who were not invited to join the communities, served as the control group.Within three months, 3,299 of the invitees became active community participants, posting messages, joining in discussions, and helping other members. We call these customers the “community enthusiasts.” An additional 11,242 users became “lurkers,” reading others’ posts without actively participating in the communities themselves.

 

Over the course of a year, we compared the behavior of community enthusiasts and lurkers with that of the control group. The differences were astonishing. Lurkers and community enthusiasts bid twice as often as members of the control group, won up to 25% more auctions, paid final prices that were as much as 24% higher, and spent up to 54% more money (in total). Enthusiasts listed up to four times as many items on eBay and earned up to six times as much in monthly sales revenues as the control users. The findings on first-time sellers were even more impressive: Compared with the controls, almost ten times as many lurkers (56.1%) and enthusiasts (54.1%) started selling on eBay after they joined and participated in customer communities.

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EU Commissioner Kroes: "Open access to research is a must for the competitiveness of Europe” - Open2011 English

EU Commissioner Kroes: "Open access to research is a must for the competitiveness of Europe” - Open2011 English | OpenBusinessCouncil.org | Scoop.it

The EU Commissioner for Europe’s Digital Agenda, Neelie Kroes, this morning gave the starting signal for the Dutch contribution to the annual international Open Access week. In a video message on the www.surf.nl/open2011 website, Ms Kroes says that open access to research results – both publications and research data – is not just a luxury. She sees Open Access as a must for the Netherlands and Europe if they are to be able to compete internationally.

After the starting signal by EU Commissioner Kroes, there will be daily videos on www.surf.nl/open2011 for the next two weeks in which a speaker from the higher education sector will emphasise the importance of “open” for higher education and research.

 

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Occupy Wall Street Turns to Crowdsourcing for Support | #1 Site for Crowdsourcing, Crowdfunding, & Open Innovation News | Daily Crowdsource

Occupy Wall Street Turns to Crowdsourcing for Support | #1 Site for Crowdsourcing, Crowdfunding, & Open Innovation News | Daily Crowdsource | OpenBusinessCouncil.org | Scoop.it

As the Occupy Wall Street movement continues to gain momentum, two crowdsourcing organizations have joined the initiative and are using their expertise to spread the message to ensure it cannot be ignored. Kickstarter, a crowdfunding site, has provided financial backing through pledges from the public to publish The Occupied Wall Street Journal. EpicStep, a company that creates billboards raising social awareness, bases its billboard decisions on voting by the public. They have promised to donate a billboard to Occupy Wall Street if enough people vote for it.

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What it Means Today to be 'Connected' - Lucy P. Marcus - Harvard Business Review

What it Means Today to be 'Connected' - Lucy P. Marcus - Harvard Business Review | OpenBusinessCouncil.org | Scoop.it

Connecting with people and innovative ideas is more important than ever. To my mind, in a world where new and interesting ideas can come from anywhere, true value is found by breaking through the silos of sector-only or country-only knowledge and relationships. In such a world, it is not about the number of people you know or the mountain of business cards you collect, but rather about the depth and authenticity of the relationships you build and sustain, the depth and maturity of the connection you have with one another, and about valuing and nurturing the free flow of ideas.

One of the most exciting developments that technological advances have facilitated is the breaking down of the hierarchy of ideas, allowing great ideas to bubble to the surface from virtually anywhere. This means that it matters little whether an idea originates from a young woman entrepreneur in Japan or an elder statesman in Africa.

When done well, with authenticity, depth and continuity, being connected, both online and offline, facilitates constant learning, synthesizing, evolving, and sharing that is, for me, the most exciting and rewarding part of being "connected."

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NineSigma and Caliper Launch New Co-Innovation Development Program | InnovationManagement

NineSigma and Caliper Launch New Co-Innovation Development Program | InnovationManagement | OpenBusinessCouncil.org | Scoop.it

At the heart of the innovation process is the search for new ideas and market opportunities with commercial value. With so much on the line, companies are increasingly turning to an open innovation model built on external partnerships. NineSigma and Caliper have developed a new Collaborative Innovation Development Program to ensure that innovation leaders and managers are well-suited for their roles, and know how to bring out the best in their teams.

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The Rise of Customer-Driven Innovation

The Rise of Customer-Driven Innovation | OpenBusinessCouncil.org | Scoop.it

Crowdsourced co-creation can shorten the time it takes to get new products to market and leverage an empowered consumer culture. Here are several factors to consider before investing in a co-creation initiative.

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More than running shoes – a business model innovation Best Buy should model

More than running shoes – a business model innovation Best Buy should model | OpenBusinessCouncil.org | Scoop.it

Road Runner Sports offers a new twist on guru advice – a computerized assessment based on a video of the shopper running on a treadmill, a pad measuring where the runner places the weight of his feet and runner-provided information. Nick tried it, and the assessment was insightful and correct, his right leg is shorter than his left. The associate then advised Nick on the shoe, an insert, the sock, etc., to address recent knee discomfort.

Road Runner Sports turned a product sale into a high-value experience that made us happy we found the store. The company deploys what innovation expert Henry Chesbrough calls “ Open Services Innovation.” By working with the runner, plus treadmill, video and shoe insert companies and software engineers, Road Runner Sports fulfilled its value promise of providing the best solution.

Chesbrough has four recommendations for capitalizing on the innovation opportunities created by today’s open economy.

First, think of yourself as a services business...

Second, invite customers to co-create with you in order to generate the user experiences they want...

Third, turn your solutions into platforms that others build on...

Finally, redefine your business models around open-innovation platforms...

As the magnet, you’ll gain insights into customers’ tacit knowledge. Chesbrough claims this knowledge will create a stronger, harder to copy business model. Road Runner Sports customers might even reveal where the best runs are for different kinds of runners and training needs. As running newcomers to San Diego, we’d really value that!

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What’s your Point of View on Challenge Driven Innovation? | InnovationManagement

What’s your Point of View on Challenge Driven Innovation? | InnovationManagement | OpenBusinessCouncil.org | Scoop.it

Challenge Driven Innovation (CDI) is an innovation framework that accelerates traditional innovation outcomes by leveraging open innovation and crowd sourcing along with defined methodology, process, and tools to help organizations develop and implement actionable solutions to their key problems, opportunities, and challenges. We asked Adi Codaty, currently Innovation and R&D Head at United Health Group in India about his point of view on CDI...

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How to Build a Social Business - Forbes

How to Build a Social Business - Forbes | OpenBusinessCouncil.org | Scoop.it

Ten years ago there was a significant shift in the way people interacted with each other: the web came to the workplace and became a serious business tool for organizations in industries of every kind. Today, the evolution continues with the coming of age of Social Business as social computing, policies, governance and cultures are integrated into enterprise design and organizations are focused on socially-enabling business processes.

A Social Business isn’t a company that just has a Facebook page and a Twitter account. Social Business means that every department, from HR to marketing to product development to customer service to sales, uses social media the way it uses any other tool and channel to do its job. It’s an organization that uses social networking tools fluently to communicate with people inside and outside the company. It’s a strategic approach to shaping a business culture, highly dependent upon executive leadership and corporate strategy, including business process design, risk management, leadership development, financial controls and use of business analytics. Becoming a Social Business can help an organization deepen customer relationships, generate new ideas faster, identify expertise and enable a more effective workforce.

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Amazon Studios Looks to Crowdsource Films Using Digital Comics ... - Publishers Weekly

Amazon Studios Looks to Crowdsource Films Using Digital Comics ... - Publishers Weekly | OpenBusinessCouncil.org | Scoop.it
Amazon Studios Looks to Crowdsource Films Using Digital Comics ...Publishers WeeklyLater this summer, Amazon Studios, the film and TV development arm of e-commerce giant Amazon, will publish its first digital comic.
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Is Your Company Ready for Open Innovation? – The Magazine - MIT Sloan Management Review

Is Your Company Ready for Open Innovation? – The Magazine - MIT Sloan Management Review | OpenBusinessCouncil.org | Scoop.it

The right open innovation strategy can yield performance benefits — but first your company needs to overcome “not-invented-here” and “not-sold-here” attitudes.

 

Many companies have established open innovation strategies but fail to successfully implement them. Our benchmarking study found that implementation challenges for open innovation strategies derive from not-invented-here and not-sold-here attitudes among many companies’ employees. These findings suggest that managers should not oversimplify the realization of open innovation opportunities by excessively focusing on strategy formulation. Instead, if companies aim to profit from open innovation, unbiased employee attitudes are a critical foundation — and changing employee attitudes requires some time. The positive performance effects of some open innovation strategies show that a successful implementation of inbound and outbound open innovation processes can be beneficial. And the need for implementing open innovation is expected to gain further importance in the future — because an exclusive focus on internal innovation will not be a viable option.

 

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Study Reveals Huge Investments for Social Business Initiatives; Not Just Social Media | Social Media Blog for Business | Michael Brito

Study Reveals Huge Investments for Social Business Initiatives; Not Just Social Media | Social Media Blog for Business | Michael Brito | OpenBusinessCouncil.org | Scoop.it

Booz & Co. and Buddy Media just released a report titled “Campaigns to Capabilities: Social Media and Marketing” report where they surveyed managers from Fortune 100 companies and found that social media will become a higher percentage of total digital marketing budgets over the next three years.

 

The good news is that much of this spend will be focused on internal, social business activities. According to the report, 65% of respondents said they have plans in place to improve and revamp social media policies, 63% have plans for integration of social media into marketing plans overall, and 59% have plans for social media monitoring and rapid response capabilities. Additionally, 46% of the respondents will be or are investing in platforms to collaborate and share best practices and 56% are planning to use social media for consumer insights and innovation.

 

Another key data point that I found interesting is that while 96% of social media is used for advertising; only 75% use social media for customer support, 40% for product development and 24% for internal communication. I am sure these numbers will increase in the future.

 

http://www.scribd.com/doc/67355794/Booz-Co-Buddy-Media-Campaigns-to-Capabilities-Social-Media-and-Marketing-2011

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Academic representations of crowdsourcing, co-creation and open innovation

Academic representations of crowdsourcing, co-creation and open innovation | OpenBusinessCouncil.org | Scoop.it

As part of my work as a PhD student, I read lots of papers about open innovation and/or participative marketing. These papers are highly interesting but, I must admit, sometimes a little repelling with huge chunks of texts, references and citations. Visualizations of the described phenomena are greatly helpful to understand some of this information… I thought it would be interesting to gather a couple of visualizations of my research interests: crowdsourcing, co-creation and open innovation in a blog post ! This is not only quite entertaining, but might help people out there find new sources. Here we go…

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Asking the Important Questions: A Guide to Design Thinking And a Better Way to Serve Customers | InnovationManagement

Asking the Important Questions: A Guide to Design Thinking And a Better Way to Serve Customers | InnovationManagement | OpenBusinessCouncil.org | Scoop.it

Design thinking should be a way of life for senior managers. Melba Kurman spoke to Sara Beckman, design and innovation expert at Haas School of Business at the University of California, Berkeley, about how to apply design thinking to the innovation process.

...

Co-creation, crowdsourcing and working with lead users are all highly compatible with design thinking. Co-creation entails involving customers directly in the design process, which is part of what rapid prototyping facilitates. Agile development processes similarly provide multiple opportunities to engage customers directly in the design and development process. Crowdsourcing similarly involves the customer in design and development, albeit perhaps in a more arms-length fashion. A web-enabled process, crowdsourcing solicits inputs from a wide range of people into the design of a new technology or solution. Lead users are those who push a product or technology beyond its design limits, often adapting or modifying it to meet their needs. In some industries, lead users are credited with 70% or more of the innovations that happen. Companies in those industries must actively work with and understand lead users to help them imagine advances they might make in their own solutions.

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The State Of Social Media 2011: Social Is The New Normal | Fast Company

The State Of Social Media 2011: Social Is The New Normal | Fast Company | OpenBusinessCouncil.org | Scoop.it

Social media is clearly becoming the new normal. For the last several years, simply adding the word "social" in front of anything and everything from media and gaming to commerce and CRM to business and consumerism, it's clear that we are finally approaching the end of the hype curve to start making sense of what it all means and just how far it applies to the future of business and media.

But as social media becomes part of our cultural fabric and even as we witness businesses, governments, sports teams, and almost every organization socialize communication efforts today, much of what we see is merely the beginning of something that will one day become something far more important than the medium itself. Indeed, social media is affecting behavior and nothing is more important than the ability to influence decisions and ultimately behavior. The state of social media is not necessarily as much about which network is #winning as much as it is about how people are spending their time, interacting and connecting with one another, and what happens as a result.

To demonstrate this point, let's review the profound findings from the recently released Nielsen Social Media Report...

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Social Business: You're Doing It All Wrong - Forbes

Social Business: You're Doing It All Wrong - Forbes | OpenBusinessCouncil.org | Scoop.it

It wasn’t long ago that “green” was all the rage. Companies couldn’t move fast enough to paint themselves eco-friendly, no matter their actual environmental bona fides. It didn’t take long for consumers to get wise to “greenwashing,” and the inevitable backlash followed.

Then along came social. Suddenly, every site on the Web was asking visitors to fan them on Facebook or follow them on Twitter – 79 percent of companies surveyed by IBM earlier this year say they own a profile on a major social networking site. Eighty-eight of the Fortune Global 100 list of companies – stalwarts like Walmart, Exxon Mobil and Hewlett-Packard – post Twitter updates at least daily. Some might say this means we’re in the age of social. But I’d argue that it’s more like the age of “socialwashing.”

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Open Innovation and Creativity, A Panel at the Media Lab | MIT Center for Civic Media

Open Innovation and Creativity, A Panel at the Media Lab | MIT Center for Civic Media | OpenBusinessCouncil.org | Scoop.it

Over the last two days at the Media Lab, we have been having our biannual member's meeting, a time for all of the lab's sponsors to stop by, look at our work, and to participate in talks and sessions about the big issues for technology, business and the future. Hashtag: #MediaLabNtwks.

One of the highlights has been a superstar panel discussion on Open Innovation and Creativity, moderated by the Media Lab director Joi Ito (my supervisor Ethan posted yesterday on Joi's views on openness). The panelists were Larry Lessig, Chris diBona, Yochai Benkler and John Seeley Brown.

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7 Disruptive Innovations That Turned Their Markets Upside Down [INFOGRAPHIC]

7 Disruptive Innovations That Turned Their Markets Upside Down [INFOGRAPHIC] | OpenBusinessCouncil.org | Scoop.it

Who are the movers, the shakers, the companies that affect profound change? And what products do they bring to market that disrupt all others, making other companies completely re-think their strategies? Let’s take a look at seven of those products whose competitors wish had never existed.

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Edison's 150 Questions: A Collaboration and Co-Creation Masterclass - GauravBhalla.com

Edison's 150 Questions: A Collaboration and Co-Creation Masterclass - GauravBhalla.com | OpenBusinessCouncil.org | Scoop.it

Innovation, especially collaborative innovation, or co-creation, requires the judicious use of collaborators. While it is instructive to recognize and applaud modern pace setters like Apple, P&G, Unilever, Lego, and Nike, it is important to recognize that few achievements, if any, are stand-alone; they usually stand on the shoulders of titans of a previous era.

The purpose of this blog is to pay homage to one such giant, Thomas Alva Edison, to his understanding of the importance of collaboration, to the importance of picking the right collaborators, and building requisite diversity into his invention and innovation program

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Doing the Honda dream | brand-e

Doing the Honda dream | brand-e | OpenBusinessCouncil.org | Scoop.it

Honda’s Dream Factory and The Guardian have launched an initiative to find the UK’s cultural engineers of the future. And the Honda Dream Factory Project is about innovation, good ideas and frontier-style discovery – the cultural engineers don’t just dream, they do, the partners say.

So, some of the UK’s best innovators and thinkers will be invited to collaborate with technical developers to bring their ideas to life at a Power of Minds Hack co-creation weekend. The event, to be held at the Guardian’s London offices in November, will be live-streamed and will identify the winning prototype which may then go into production with Honda.

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IndustryWeek : 10 Steps for Creating an Open-Innovation Culture

Open innovation does not entail the creation of a massive business concept. Instead, it is the transformation of an internal culture, and the development of a process to encourage and promote innovation from every available source.

Here are 10 steps that companies should follow to create and cultivate a successful open-innovation program.

1. Create a needs list...

2. Define the company's core competencies...

3. Initiate scouting...

4. Develop an IP strategy...

5. Broaden outreach to additional stakeholders...

6. Let everyone know that the company is "open" to innovation...

7. Transform existing relationships...

8. Build a knowledge base...

9. Collaborate with peer organizations...

10. Create accountability...

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