IdeaHub Accelerates Innovation by Enabling Businesses to Ideate with Groups of Customers
VANCOUVER, British Columbia – October 21, 2013 – Vision Critical, the leading provider of insight community technologies, today released IdeaHub, a co-creation solution designed for organizations interested in leveraging the ideas of customers, employees or other stakeholders for innovation and new product development. IdeaHub quickly and easily captures, processes and presents meaningful consumer ideas to businesses looking to cost-effectively increase the pace of innovation and make customer-centric business decisions.
By using members of an existing insight community, market panel or internal online group, IdeaHub enables organizations to generate new ideas from up to tens of thousands of customers, prospects and employees. Through IdeaHub, ideas are funneled down to the most actionable ones, reducing the time, effort and cost spent on concept creation for an organization. A $2 billion industry and growing, the collaborative economy—as recently reported on by The Altimeter Group—is driving businesses to tap into communities of people with solutions such as IdeaHub in order to improve business functions, products and services, while cutting down spend and creating new market offerings.
The IdeaHub process:
- Generation: Existing communities of customers, employees or groups of interest are presented with an outline explaining the innovation challenge. From there, members generate and submit ideas via text, images, audio or video.
- Evaluation: Ideas with potential are identified and sent back to the community to evaluate.
- Refinement: Ideas with the highest IdeaHub index scores are presented in an online forum and the community is invited to comment and suggest improvements.
- Selection: The revised ideas are presented to community for reevaluation, rescoring and a final decision.
“We’ve already had a handful of existing Vision Critical customers use IdeaHub and they’ve been pleasantly surprised and impressed. The clients we’ve been working with have been able to gain some spectacular insight into what their customers want more from their organizations and how they can deliver value to their audience the way they want it,” said Andrew Grenville, chief research officer of Vision Critical. “IdeaHub has already allowed our clients to team-up with their customers to produce good ideas and execute against them, which helps the businesses we work with stay close to the demands of their target market and grow their business.”
“I’m very excited about the release of IdeaHub. For the first time, businesses and organizations have the power to co-create with thousands of customers that are part of their insight communities or other groups,” said Andrew Reid, president, founder and chief product officer of Vision Critical. “Nothing is more fundamental to a company’s success than continued innovation and new product development. IdeaHub enriches and speeds-up the innovation process by making it fast and simple for businesses to connect with customers. Now available, IdeaHub is a valuable solution that captures customer ideas in real time for the purpose of improving product and service offerings.”
Announced at The Market Research Event (TMRE) 2013 conference in Nashville, Tennessee, IdeaHub is currently being offered to select organizations. To learn more about Vision Critical and IdeaHub at TMRE, please visit booth 414 or visit www.visioncritical.com/ideahub.