Fighting for your audience? Take on the right incentives

Your customers will always be glad to share with you insights on how to improve your product. They’re probably doing it now in some way, though irregularly and outside any structured innovation management framework.

Nevertheless, if you’re looking for specific expertise or creativity focuses, you can’t expect the answers to land on your doorstep. You need to give people some kind of incentive to think ideas through, getting them to share their best contributions. ‘Why should I participate in this programme, anyway?’ is the question potential participants will certainly ask.

Which incentives should I use?
You need to opt for both self-promotional – leaderboards, reputation enhancements and community recognition events – and material incentives – money, products and experiences. This is particularly relevant if you’re running a competition or targeting the general public or consumers.

Make sure that the company you pick to help you with initiatives takes this route, providing a detailed overall plan of programme incentives and articulating which activities should be promoted and how this happens. The template model needs to accelerate decisionmaking. These elements must create clear links between incentives and rewards, aligned with programme objectives and organisational brand values.

In addition, the chosen online platform should implement a horizontal incentive scheme that covers each stage of the open innovation process. It must also integrate gamification techniques and game elements such as points, badges, leaderboards and digital currency rewards (which participants can exchange for material prizes) for each valuable interaction with your platform.

This model allows programme managers to promote the desired behaviours of targeted stakeholders or communities. Finally, you need to be able to manage your programme easily for brand awareness, quality of proposals and quantity of interactions.

(to be continued)

Pedro da Cunha, Exago’s co-founder/ pdc@exago.com

FROM THE START:
Open innovation and the fight for your audience

Challenge configuration has never been this easy

Creating and editing challenges for your innovation management initiative just became easier with our Idea Market 3.5 release. We’ve aggregated challenge configuration fields into a sleeker and better structured page, thus facilitating configuration adjustments.

Three tabs are now available on the challenge configuration page: basic settings, evaluation methods (i.e. stars, likes or investments) and advanced settings (i.e. pre-defined and optional). In more compound fields, tooltips on mouse hover now guide you through the process, keeping your goals clear.

We brought some additional features in at the challenge level as well, and we’ve made the creation process simpler and quicker for you. Among the pre-defined advanced settings available for each challenge are points for idea validation, automatic validation of ideas, different approval criteria, time needed for the crowd to evaluate ideas and other specific market configurations.

These enhancements help clients create more detailed and comprehensive challenges, to focus their people’s participation on business goals and get them to contribute more actively. They get more and better ideas over time.

Do you want to try it yourself? Reach us at inquiries@exago.com.

Check out what else is new:
Exago’s brand new 3.5 release is out, and it’s more flexible than ever

Idea Market 3.5 release helps you see clearer ahead

Exago’s 3.5 release comes with a new contextual navigation feature. It is designed to keep participants context-centred, helping them know exactly where they are, at all times, and where they can head to next.

Upon landing on the platform’s homepage, users see active challenges inviting them to share ideas, make comments and explore all related content and information, with little effort and higher effectiveness. Users can also scan through a new challenges page showing all active challenges and offering a complete perspective on their company’s priorities.

On each challenge page, navigation has also been made more intuitive and comprehensive, with a new bar displaying the challenge’s status, total number of ideas under evaluation and the latest insights on that challenge. The new navigation bar lets participants move across the different phases of the challenge, guided by new mouse-hover tooltips.

The new ‘Ideas’ menu also focuses users on idea navigation, allowing them to access and discover all idea pipelines immediately and track ideas progressing through them.

The previous navigation method was fast and comprehensive, but this extra layer increases navigation granularity and transparency, which our clients have asked for. Mission accomplished!

Do you want to see it live? Reach us at inquiries@exago.com.

Check out what else is new:
Exago’s brand new 3.5 release is out, and it’s more flexible than ever

What we’ve learned about the idea management challenge

The clock is ticking. Most managers (86%, to be precise) believe transformation in their companies is imperative to guarantee unrelenting success, according to the Oracle and Forbes report, Making the Change: Planning, Executing and Measuring a Successful Business Transformation. However, one in five companies has failed in its innovation attempts, and three in five have not yet made any effort in this area.

Developing sustainable innovation capabilities is the only way for companies to stay in the race. Indeed, idea management software – functioning as an idea market – has proven to be highly effective at unleashing your people’s hidden innovation potential. Nevertheless, technology doesn’t work alone.

You thus have to develop an innovation programme that engages each person, promoting his or her participation over time. Your programme needs to collect everyone’s insights and experience efficiently, promoting a collaborative environment – where ideas are discussed and enriched – and focusing on generating answers in the form of actionable ideas and projects.

To sum up, you have to gear your efforts to generate three key success factors – developing a process that is highly engaging, highly efficient and sustainable over time. The creation of an inclusive culture capable of continuously transforming your best ideas into real value is, at the end of the day, the ultimate reward for any innovation manager.

FROM THE START:
Can you master the 3 key success factors of innovation management?

Pedro do Carmo Costa, Exago’s director and co-founder
pcc@exago.com

Exago featured in Gartner’s ‘Market Guide for Innovation Management’

Gartner’s 2016 ‘Market Guide for Innovation Management’ features Exago as one of the companies with more traction and visibility in the innovation management industry. The guide – put out by the world’s leading information technology research and advisory company – includes ‘the most important trends and profiles representative vendors’, as well as relevant market directions and recommendations.

Confirming that innovation contributes to business success, ‘which in turn is stimulating interest in innovation management products’, Gartner’s guide offers the most complete data collection and insightful market analysis for both industry members and prospective innovation software buyers.

The document explains how, ‘in the past 12 months, Exago has revamped its product user interface and administrator back-office usability, extended its workflow capabilities, and made available more traditional idea evaluation methods, such as rating in multiple dimensions.’ Exago was already referenced in the guide’s previous edition.

Register for access to the guide here.