What is Idea Crowdsourcing Contest Software?
Idea Crowdsourcing Contest Software is software that launches a contest among a network of individuals to generate new ideas for your company. The software uses the same model as traditional crowdsourcing with the added incentive of a contest. In the book, Principles of Marketing Engineering, “several commercial software packages offer support to the creative process, based on the premise that interactions between people and software enhance creativity.” Given the endless possibilities of technology, this observation is quite true. The creative minds of the 21st century love a competition, particularly one that is housed virtually. With this software, you are rewarding the individual or team of individuals that help your company to create a solid product or company solution. At IdeaScale, administrators help your company launch a community made up of teams or individuals that will compete to invent a product or company solution. The winner is rewarded with a tangible incentive in the form of an award, monetary prize, or industry recognition. With so many creative minds vying to make their mark in the open innovation scene, idea crowdsourcing contest software provides a perfect platform for collaborative brainstorming to ignite a new vision within your company.
How Does Idea Contest Software Help Businesses?
Idea Crowdsourcing Contest Software is a vital tool that blends marketing, social networking, and idea management into one platform. On one hand it creates a virtual space for individuals to submit ideas and on the other hand it invites an opportunity for you to market your brand to both new and established customers. Software companies, government agencies, corporations and small businesses have enlisted idea crowdsourcing contest software to generate new ideas, products, and solutions to challenges for their brand. While some might argue that contests fail to encourage collaboration, researchers at MIT “found that contests can be designed to allow (if not encourage) “coopetition” among tournament rivals. This was the case with Netflix’s $1 million contest to find the best algorithm for recommending movies to its customers. The winning entry represented the efforts of two competing groups that merged late in the contest — a maneuver that prompted other participants to pool their resources as well.” As contestants invest their time and energy to generate new ideas they too become customers of your brand. The research they perform creates a more knowledgeable customer base via visits to your website where they learn about your services and immediate brand needs. Contests breed excitement and ultimately spread the word about your company through various touchpoints on the internet.