CSW Europe, Day 1: Survival Kit for your Business in the Age of Crowdsourcing

Written by Yuliya Hudoshnyk

The first day of Crowdsourcing Week Europe 2014 is brought to a close. We had an action-packed day full of insights on what crowdsourcing can give to companies and why collaboration matters. Crowdsourcing is not only about money. Neither it is for a selected field of business. When crowd is involved, everything – from Lego toys to laws for same sex marriages, gets transformed.

New rules for business

We’re playing a different game and old approaches to business and brand management can hardly bring any new results. Founder of Crowdsourcing Week Epi Ludvik Nekaj opens CSW Europe saying that people want to be free from the corporate world. It is the right time to use the power of the crowd and let them produce.

‘Top secret’ garage ideas cannot blow success out of the water anymore. Young entrepreneurs from Babele Emanuele Musa and Ruxandra Creosteanu say that 90% of them fail. And more than a half of those who survive have to change their business strategy on the path. Advice is simple:  get out of the shell, go to the crowds and ask them what they actually want.

Instead of scratching your head at how to market products and get revenues, let customers speak up and make branding work for itself. Bruno Pellegrini, CEO of a crowdfunding video platform Userfarm, recommends making consumers ambassadors of your brand. Give them a platform, collect ideas and articulate them. That is what according to  Guy White, Catalyx, is a distinctive difference between old and new branding. Now participation is in the core of every project.

 Navigating active citizenship

Today’s panel with top social innovators showed how ideas turn into projects with a power of creativity and support of the crowd. While in Sweden creativity and democracy are merged into Democreativity, Finnish Open Ministry encourages everybody to take part in the legislation process. Spanish Smart Citizen makes “the invisible visible” in the cities whereas Peerby encourages  people to knock doors of their neighbours and share items. There is an immense field of cooperation and co-creation. And not only crowd has a benefit from it, your business does as well.

 Crowd management: how to make it work

 And now a few good tips from our experts how to take the most from cooperation with the crowd.

Shelley Kuipers, Chaordix, says that crowd can bring you ideas and advocate for your brand. Be aware of what you can give in exchange. “Be human centered and provide your consumers with meaningful feedback,” points out Nathan Waterhouse (OIEngine). It is not only about social media. Technology itself is not the only disruptor. There are people behind the software and technologies who can bring fruits for your business.

Troels Lange Andersen from Lego Group shows how Lego Ideas have generated nearly 20 thousand projects for the company and strengthened the Lego brand through collaboration with customers. Yet, when it comes to business, managing the platform is not a child’s play: keep in mind time, trust, crowd trends and competitors watching you.

Millennials to run the future economy

Seven European cities are on top of the crowdfunding search. Yet, at the meantime they face drastic youth unemployment. And in some 10 years these young jobless people will be 75% of the workforce. Today’s unemployed Generation Y  has to run economies in a decade. What kind of economies will those be? More creativity? More collaboration? They can change the linear economy with crowdfunding? Day 2 at CSW Europe will give models on how to make it work.

 

 

Following on Sean Moffitt’s from Wikibrands spontaneous poll at CSW Europe, tell us what is your position on the crowdsourcing continuum? Is it merely about money, better results for your company or about creating a better world? We’re looking forward to following the next two days of Crowdsourcing Week Europe 2014 to see how to combine these three together.

 

 

 

Crowd Sessions Corporate Crowdfunding

BOLD SERIES

The World of Freelancing
and Remote Working

Don't forget to share this post!
About Author

About Author

Yuliya Hudoshnyk

Yuliya is a journalist currently pursuing her Master degree in Global Studies in Denmark. She is interested in local initiatives that turn into global trends and the role of media in supporting the process. As a communications manager she has been cooperating with various NGOs and contributed to international trainings in creativity and entrepreneurship.

You may also like

Global Payables Platform Tipalti Celebrates Multiple Milestones

Global Payables Platform Tipalti Celebrates Multiple Milestones

Tipalti, the leading global payables automation platform, announced earlier this month that it has not only passed the 1,000-customer mark but has also exceeded $11 billion in annual transactions. Despite the economic headwinds in 2020, Tipalti has continued to...

CSW’s Virtual Crowd Summit Summary, 7 May 2020

CSW’s Virtual Crowd Summit Summary, 7 May 2020

Attendees at our first Virtual Crowd Summit experienced an international panel of speakers discussing and sharing how crowdsourcing-led techniques and models can help organisations. Help them to not only face up to the economic and operational implications of the...

Speak Your Mind

0 Comments

Submit a Comment

Your email address will not be published. Required fields are marked *

Time limit is exhausted. Please reload CAPTCHA.

Design Your Next Successful Prize Challenge

Design Your Next Successful Prize Challenge

E-BOOK Includes:

- 7 key Step Framework Guide

We have broken the process down to a template of seven key steps to ensure results.

- 7 key step Workbook

We created a workbook template to get actionable steps and a clear overview of your next prize challenge.

Get your Rewards ready! E-BOOK on it's way to your inbox!