5 benefits of open innovation supported with crowdsourcing

Crowdsourcing is an innovative open innovation tool that enables businesses to collect valuable feedback, ideas, and insights from their online community. It also allows efficient management and analysis of the data collected. Brands like Kraft, P&G, General Mills, Walmart, and Lego have a long history of using crowdsourcing for product improvement, engagement with the community, and solution discovery. Innovation management platforms that support crowdsourcing offer a variety of benefits, including cost reduction, time-saving, meeting customer demands, discovering new possibilities, and engaging around buzz. This method helps companies connect internal and external innovators, tap into real customer needs and opinions, optimize their offerings, and stay ahead of their competition.