Crowdsourced market intelligence companies Chaordix™ and Genius Crowds™ have announced the launch of a newly-enhanced crowdsourcing platform where consumers, industry experts and marketers collaborate on new product ideas. Genius Crowds operates one of the leading crowdsourcing communities (3,000+ members) that helps pave the path from product idea to market, and provides a channel for everyday people to get great ideas out of their heads and onto the shelf.
“We’re excited to have launched the next generation of Genius Crowds with Chaordix as our partner. Our community asked for earlier feedback on their product submissions as well as a way to enhance their ideas using video and relevant materials. In addition, our marketing partners requested more market prediction against the ideas developed,“ said CJ Kettler, Founder and CEO of Genius Crowds. “Initial feedback has been promising from both retailers and manufacturers who are interested in developing and marketing new ‘Genius’ product concepts.”
“This latest Genius Crowds product innovation program is precisely what Chaordix champions with our Crowd Intelligence™ services and technology,” said Shelley Kuipers, CEO of Chaordix. “Companies are quickly understanding how iterative collaboration between highly-engaged consumers and industry advisors can yield greater market insights – while reducing go-to-market risk and increasing product adoption rates and brand loyalty.”
Genius Crowds first partnered with Chaordix, a pioneer in crowdsourcing program and platform design, in the fall of 2010. Today, the new Genius Crowds product ideation process makes the idea submission process even easier to use and takes a phased, collaborative approach to concept refinement. During each month-long themed challenge, crowd participants first submit their consumer product ideas, help improve others’ ideas, and vote for their preferred concepts.
In Phase 2, the Genius Crowds panel of industry experts rapidly narrows the focus of the most “loved” ideas by evaluating the feasibility based on marketability to manufacturing. The crowd then has a week to collaborate with top contenders to further improve the selected ideas and vote on which ones make it to the final round.
The exciting conclusion presents the refined ideas – with additional expert commentary – to the community, with a week to indentify (through a weighted blind voting method) the product(s) they would most want to see on shelves. Gift cards are awarded to crowd favourites and active participants in the process. If a product is chosen for retail, Genius Crowds shares the proceeds with the “genius” from the community.