crowdsourcing: looking ahead to 2015

Crowdsourcing : Looking Ahead to 2015

Sean Moffitt, Managing Director, Wikibrands/CSW2

@seanmoffitt @wikibrands @crowdweek #cswvenice

CSW in Italy = Crowdsourcing Karma?

Italy - Conditions for Crowdsourcing

#8 Quality of Life Source: University of Leicester

#5 Tourism Destination Source: United Nations

#15 Strength of National Brand Source: Future Brand

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#195 Economic Growth Rate Source: World Economic Forum

Can the Silk Road become the “Crowd” Road?

Some slang of Uber (e.g.

Uberfication)

“Disruptive”

Citing Jeff Howe and

2006

“Microtasks”

King Louis XVI

“Gamification”

Iceland Constitution

Mechanical Turk

Human-based Computation

Pebble Watch and how

much money raised

“Airbnb”-ified

Internet of Things, bonus

if called IoT

My Starbucks Idea as Recent

Example

“Cloud” and “Crowd”

together in same phrase

Oxford English

Dictionary

Any word derived from the Swahili

word….

Veronica Mars

The Netflix Prize

“Participatory design”

Distributed problem Solving

“Demo-cratization”

Citing James Surowiecki

and Wisdom of Crowds

The White/Gold, Blue/Black

Dress

Spock/Leonard Nimoy

"99% of the richest people in the US have NEVER participated in crowd or angel investment.”

Jon Medved, Our Crowd

“Crowdfunding” - #1 in Europe

You’re Interested!

54% Europeans willing to rent TO others

44% Europeans willing to lease FROM others

Source: 2014 Nielsen Global Sharing Economy Study

A Tipping Point?

We’re All Be Rich!

2013

2025

Crowdfunding$5B

$96B

2014

2025

Sharing Economy $15B

$335B

2014

2019

Microfinance

$5.7B

$14B

Source: The World Bank, Microfinance Outlook Report, Crowd Companies, PwC

Jumped The Shark

The Most Game

Changing

Sept, 2012 Kickstarter Results March, 2014 Purchase

Rewarding After-the-

fact

The Most Interesting

The Most Disruptive

The Time for Crowding is Now!

THE ECONOMYnow demands it

THE CROWDnow accepts it

THE TECHNOLOGYnow facilitates it

No Matter Who You Are…

Take the 2015 survey #CSWVENICE @seanmoffitt

So much more than Kickstarter and Airbnb…

Six messages for 2015 …

1. 2015: The Year We All Jumped Onboard

2. Norms are Forming, Crowd Kids have turned into Teenagers

3. B2B and B2C has turned into H2H

4. It’s a Global Movement,This is not just Silicon Valley

5. Crowd is sustainable - driven by the winds of 5 Meta Trends

6. Disrupting Everything We Do

Source: The 2015 Global Crowd Economy Survey

Compared to historical 70% annual Crowd Economy growth rates…

41% 59%

26% 74%

13% 87%

Women are In!

Big Business and Small Business are In!

Source: PwC

Left and Right are Kinda In!

Source: Crowd Companies

@seanmoffitt @crowdweek

EQUITY


New Norms are Forming for a New World

“Solves Problems from

Non-Traditional Sources”“Funds

New Ideas/Busi

ness”

“Identifies Crowd-based

Insight/Surfaces New

Perspectives”

The 2014 Podium – Top Crowdsourcing Objectives

Source: The 2014 Global Crowdsourcing Pulsecheck

“Solves Problems from

Non-Traditional Sources”

“Funds New

Ideas/Business”

“Drives Awareness/Bu

zz/Publicity Value”

The 2015 Podium – Top Crowdsourcing Objectives


What are the top 7 ingredients of….

Top Success Factors for a Successful Crowd Initiative

Source: The 2015 Global Crowdsourcing Pulsecheck

1.Crowdworthy Idea – Flint and Tinder

2. Triggers, Incentives and Motivations– The Coolest Cooler

3. Great Product, Step Change Innovation

4. The Tools Used and Platforms Built

@seanmoffitt @wikibrands#cswvenice

Source: Randstad, The New Trade

The Importance of the Human Cloud and Storytelling to Crowdsourcing

#H2H Crowdsourcing Activities #H2H Storytelling

What is driving our Global optimism?

Unlike nearly every other wave of technology-induced change, it actually

needs the world

Source: Traits of the Crowd Economy, The 2015 Global Crowd Economy Survey

Strongly Agree/Agree

Strongly Disagree/Disagree

Is Silicon Valley Losing It’s Grip?


Crowdsourcing Horizon 2020

UK Government Invests in Crowdcube

Top Platforms – 99 Designs, Pozible,Freelancer.com, DesignCrowd

eGov 2015 Masterplan and home of CSW Global

Citizen’s Initiative Act

Direct Democracy and e-Residencies

Malaysia Equity Crowdfunding

Top Legalized Equity Crowd-Funding - Pledge.me/Snowball

Decade-long presence of platforms and media coverage

Crowd Economy: Fueled by a nearly perfect storm of 5 Trends

Crowd Change Factor #1 -The rise of entrepreneurial startup culture

60% of millennials consider themselves entrepreneurs


Crowd Change Factor #2 – Growth of free

agents/freelancing/independent contractingSource: The 2015 Global Crowd Economy Survey, Your Ecore

Crowd Change Factor #3- Expanded global marketplaces and

scaleSource: The 2015 Global Crowd Economy Survey

2015 Tension between 4th & 5th Trend Authenticity/Transparency

vs. Monetization


Crowds are Disrupting Everything We Do

Biggest Industries Disrupted by the Crowd

(next 3 years)

* Health Care 7th, Manufacturing 8th, Education 9th, Public Service/Govt. 10th

@seanmoffitt @crowdweek Source: The 2015 Global Crowd Economy Survey

Source: Efma-Infosys

Crowdsourcing : Storm Clouds Ahead?

#1 Regulatory Prevents Expansion (+2 ranks vs. 2014)

#2 Poor Implementation/Perfomance (+4 vs. 2014)

#3 Weaker Participant Commitment (-1 vs. 2014)

#4 Opportunity for Scandal/Fraud (same rank as 2014)

#5 Bad Post-Campaign Communication (+3)


13 Predictions for the Crowd Economy 2015


-1 pts.vs. 2014

+6 pts.vs. 2014


+21 pts.vs. 2014


+20 pts.vs. 2014

“Crowdsourcing is nearing its height in popularity and as a term, will be

considered a fad in the future.”

85% disagree (+8 pts. Vs. 2014)


“We will need to find significantly better ways to manage and curate crowdsourcing and crowdfunding

efforts than we do now.”

91% strongly believe/believe (+7 pts. vs, 2014)


Other Predictions?

8. Startups and Angels will increasingly use crowdfunding as

their Series A validation

9. Governments will slowly loosen the reigns on crowd economy, ceding

to public demand @seanmoffitt @crowdweek

Other 2015 Crowd Predictions:

10. Peer-to-Peer Lending will skyrocket causing banks/financial service to cozy up to key players

11. Crowdsourcing participants will demand a more equitable relationship with backers

@seanmoffitt @crowdweek

Other 2015 Crowd Predictions:

12. More effective audits will take place to ensure crowdfunders can

execute & deliver their projects

13.Incumbent tech-, crowd- and sharing economy players will extend into non-traditional

industries @seanmoffitt @crowdweek

Inductees 2014

2015


Recap - Six messages for 2015 …

1. 2015: The Year We All Jumped Onboard

2. Norms are Forming

3. B2B and B2C has turned into H2H

4. It’s a Global Movement,this is not just Silicon Valley

5. Driven by the winds of 5 Meta Trends

6. Disrupting Everything We Do

A Who’s Who Directory ofthe Global Crowd Economy Players

I. Find survey at:www.crowdsourcingweek.com

@SeanMoffitt

II. Full 2015 Global Crowdsourcing Paper thought paper:April’15 in time for CSW Global Conference

III. Interviews over March’15:6 Questions I still need Answered

Crowdsourcing Meets the Sharing Economy: Why Sharing Your Knowledge for Free Will Make You More SuccessfulSimon Schneider, CEO & Co-founder, Zyncd

crowdsourcing: looking ahead to 2015

Economy & Finance