Managing the Risks When Evaluating Crowdsourcing and Social Product Development

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Today, Paul Dombowsky (CEO Ideavibes) delivered a keynote at the PDMA (Product Development Managers Association) Product Innovation Management Conference in Orlando. The talk was focused on managing risk when considering and using social product development or crowdsourcing to engage with your crowd (customers - prospects - stakeholders) to develop new products, programs or services or new versions of existing products, etc.

RIsk is a work we run into as we talk with brands, cities, etc. when they are considering more formally using the crowd beyond one way conversations to gain valuable insight that can be used to influence the product road map. Change is hard but many customers like to be asked (just like at the prom) and are willing to give their time to give you insight that has more value often than a simple survey.

Managing the aspects of risk is important and this talk looked at 8 types of risk:

  1. Segmentation
  2. Fragmentation
  3. Flavourization
  4. Benchmarkization
  5. Competition
  6. Execution
  7. Organizational Behaviourization
  8. Inertia

To learn more, check out the slides form today's presentation and watch for a whitepaper coming soon. If you want to discuss further, let us know.

PDMA PIM Keynote on Risk and Social Product Development

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