What is crowdsourcing’s ROI? McKinsey Global Institute reports

The McKinsey Global Institute in its report « The Social Economy: Unlocking Value and Productivity Through Social Technologies » estimates that leveraging social technologies and platforms including crowdsourcing and co-creation could improve productivity of high-skilled knowledge workers by 25% and contribute between $900 billion to $1.3 trillion per annum across four commercial sectors: consumer packaged goods, retail financial services, advanced manufacturing and professional services.

Put it simply: « Companies that depend very heavily on influencing consumers can derive considerable value by interacting with them in social media« .

The report is commendable but the spotlight when it comes to crowdsourcing and co-creation is very much shining on new product development while applications to marketing are confined to the power of social media for direct-to-consumer communication. As we see everyday on eYeka, co-creation and crowdsourcing are powerful methods to elicit fresh creative ideas for marketers too, including brand positioning, naming, creative concepts for communication campaigns and much more.

Download the McKinsey Global Institute report here.
Download the eYeka report on co-creation for marketing here.

About joelcere

Joël was Global Insights & Innovation Director for eYeka. Ex-agency man - 14 years in advertising, PR, media and digital - who dabbed in startups as co-founder, investor or partner, he is passionate about innovation, disruptive ideas, marketing and business strategy. He has a keen interest in contemporary art, eco-preservation, futurecasting and becoming editor-at-large for Food & Travel.
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2 Responses to What is crowdsourcing’s ROI? McKinsey Global Institute reports

  1. Pingback: What is crowdsourcing’s ROI? McKinsey Global Institute reports | eYeka Co-creation Blog « Joanna Emery

  2. Pingback: DOES YOUR BOARD RUN ON OPINION OR RESEARCH? | peterzehrenanonprofitperspective

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