Global Trends Shaping the Crowd Economy in 2014

2014 Global Crowdsourcing Pulsecheck

Sean Moffitt, Managing Director, Wikibrands

@seanmoffitt @wikibrands @crowdweek #csweurope

Paradox - Denmark Innovation

#1 Satisfaction with Life Source: University of Leicester

#1 Least Corrupt Source: Transparency International

#1 Most Egalitarian Source: United Nations Gini

#1 Happiest Country Source: Gallup

#1 Smartest City - Copenhagen Source: Fast Company

What Happened?

1st

2nd

7th

9th

15th

6th

4th

3rd

16th

12th

Where are you on the crowd continuum?

“It Makes

Money”

“It Creates a BetterWorld”

“It Produces

BetterResults”

No Matter Where You Are…

Why CSW Europe = Crowdsourcing Karma

“Crowdfunding” - #1 in Europe

54% Europeans willing to rent TO others

44% Europeans willing to lease FROM others

“The Mainstreaming of EuroSharing”

The Smartest

The Most Potential

The Most Civic-Minded

The Most Disruptive

The Most Infamous

The Most Deadly Serious

The Most Game

Changing

Sept, 2012 Kickstarter Results March, 2014 Purchase

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

“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

ALS Ice Bucket

Challenge

Vikings

Google confirms the “crowd” has room to grow

“Substantially more than current growth”

“More than current growth”

“Same as current growth”

“Less than current growth”

What do you expect growth wise in the “crowd economy” for 2014 and 2015?

Source: the 2014 Global Crowdsourcing Pulse Check

What do we call this “crowd thing”?

Are we warring with social media?

The Crowd Universe The Social Universe

Alternate Business Model Media

Business/Cause Motive Larger Set of Purposes

Innovation Connection

Monetary Outcome Engagement Outcome

Why are we attracted to the “crowd” movement?

#1 We love crowds’ disruption possibilities

#2 Crowds connects people with purpose

#3 Crowds keeps us on the leading edge

The big 6 “Meta” Crowd Trends

#1 -The rise of entrepreneurial startup culture

#2 – Growth of free agents/freelancing/independent

contracting#3 - Expanded global marketplaces

and scale

The Other Crowd Facilitators

Biggest Crowd Growth Sub-Segments

@seanmoffitt @crowdweek

Biggest Industries Disrupted by the Crowd

(next 3 years)

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

@seanmoffitt @crowdweek

Leading and Managing the Crowd

“Solves Problems from

Non-Traditional Sources”“Funds

New Ideas/Busi

ness”

“Identifies Crowd-based

Insight/Surfaces New

Perspectives”

What are the top 7 ingredients….

@seanmoffitt @crowdweek

1.Crowdworthy Idea – Taskrabbit - Your Tasks, Done.

2. Triggers, Incentives and Motivations– Kiva

3. Great Product, Step Change Innovation

Top Impasses for a Successful Crowd Initiative

#1 Legal & Regulatory Hurdles

#2 Time for Staff to Manage It

#3 Organizational silos/adoption issues

Crowdsourcing : Storm Clouds Ahead?

#1 Intellectual Property Rights/Plagiarism

#2 Weaker Participant Commitment

#3 Regulatory Prevents Expansion

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

efforts than we do now.”

82% strongly believe/believe

@seanmoffitt @crowdweek

“Large corporations will expand their investments in

crowdsourcing/crowdfunding.”

82% strongly believe/believe

@seanmoffitt @crowdweek

“The future of equity crowdfunding will threaten venture capitalists and

angel investors.”

42% strongly agree/agree37% strongly disagree/disagree

@seanmoffitt @crowdweek

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

considered a fad in the future.”

76% strongly disagree

@seanmoffitt @crowdweek

“There is a need for a centralized forum for sharing learnings and best

practices of crowdsourcing.”

“77% Strongly Agree/Agree”

Key Takeaways

The world is a blur and it’s getting smaller

Crowdsourcing is growing up; no longer a play thing, it is creating real value

Best crowd practices are starting to develop; crowds are disrupting and becoming the fabric of what we do

Someone has to lead the crowds