On September 18, 2012, Pleasanton, CA based Spigit, a social innovation vendor acquired Crowdcast, a San Francisco based social business intelligence pioneer for an undisclosed sum. Crowdcast Founder/CEO Mat Fogarty and Chief Scientist Leslie Fine will join Spigit’s executive team as part of the acquisition. Crowdcast is backed by Menlo Ventures and Alsop Louie Partners.
Spigit, which has raised over $26M to date, brings 1200+ worldwide customers that can benefit from the Crowdcast offering. Key customers include MetLife, American Express, Walmart, GE, Pepsico, Nike, Merck, Sprint, Farmers Insurance, CapGemini, and Warner Brothers. Crowdcast customers include SAP, Boeing, Hershey’s, iARPA, and Electronic Arts.
This acquisition signifies larger trends for customers in the crowdsourcing and innovation market who:
- Seek the ability to move from crowd sourced data to actionable decisions. Founded in 2007, Crowdcast allows companies to crowd source organizational knowledge and intelligence from employees and partners to improve decision making. Crowdcast tracks and rewards employees for their accuracy in predictions. Meanwhile, Spigit Engage provides the key tools to match social collaboration with traditional work flow. Spigit ICON supports ideation via a question and answer format. As part of the agreement, Spigit will add four Crowdcast patents to its patent portfolio.
Point of View (POV): Spigit’s core customers expect to move beyond social collaboration and ideation in isolation. Spigit’s integration with Sharepoint, Yammer, Jive, and Facebook will expand the reach of these solutions through partnerships. In addition, Spigit’s core offerings, Engage and ICON, support the innovation process from concept to execution while Crowdcast delivers innovation from post execution to prediction. Pairing these two powerful capabilities closes the loop from data to decisions. With informed people and processes, organizations can seek follow-through to decisions and actions from crowd sourced data. Should the combined entity achieve integration, customers will achieve this end to end capability.
- Expect to transform innovation from art to discipline. As part of the agreement, Spigit will add all of Crowdcast’s patents to its portfolio. The combination allows customers to take traditionally qualitative approaches and craft repeatable and quantifiable results.
(POV): Customers can manage their overall innovation investment as portfolios and accordingly plan, visualize, manage, and improve. Competitive advantages comes from the accuracy in predicting innovation through metrics such as return on innovation, risk on innovation, and forecasting.
The Bottom Line: Customers Seek Outcomes Not Solutions In Innovation
The acquisition provides an opportunity to address a market for delivering outcomes not just solutions in innovation through crowd sourcing techniques, innovation portfolio management, and social intelligence.Conversations with a dozen of Constellation’s 2012 SuperNova Award finalists indicate that the innovation process can no longer be a one-off. Executives expect innovation processes to not only be measurable, but also repeatable.
Have you used a crowdsourcing and ideation platform? Do you have an idea what tools are more effective than others? Add your comments to the blog or send us a comment at R (at) SoftwareInsider (dot) org or R (at) ConstellationRG (dot) com
Please let us know if you need help with your business strategy efforts. Here’s how we can assist:
- Assessing social business/digital marketing readiness
- Considering a crowdsourcing and prediction markets strategy
- Developing your social business/digital marketing strategy
- Designing a data to decisions strategy
- Create a new vision of the future of work
- Deliver a new customer experience and engagement strategy
- Crafting a new matrix commerce strategy
- Event Report: Dreamforce X (#DF12) Emerges As The South By Southwest (#SXSW) For The Enterprise
- Monday’s Musings: The New Engagement Platform Drives The Shift From Transactions
- Event Report: CRM Evolution 2012 #CRME12
- Trends: The Battle for CMO Mindshare
- Tuesday’s Tip: Why Context Matters – Forget Real-Time, Achieve Right-Time
- Monday’s Musing: Avoiding Social Media Fatigue Through Engagement
- Friday’s Features: Using Attensity Analyze 6.0 To Compare Customer Sentiment For @united @southwestair @virginamerica
- Event Report: Lithium Network Conference 2012 #LiNC
- Best Practices: From First To Worst – Continental In A Post United World, Lessons In Next Gen Customer Experience
- Monday’s Musings: Seven Basic Privacy Rights Users Should Demand For Social Business
- News Analysis: Lithium Technologies Adds $53M in Financing
- Monday’s Musings: Balancing The Six S’s In Consumerization Of IT
- Monday’s Musings: A Working Vendor Landscape For Social Business
- Product Review: Google+, Consumerization of IT, and Crossing The Chasm For Enterprise Social Business
- Monday’s Musings: Using MDM To Build A Complete Customer View In A Social Era
- Monday’s Musings: Mastering When and How High End Brands Should Use Daily Deal Sites Such As Groupon
- News Analysis: Salesforce.com Acquires Radian6 For $316M
- Monday’s Musings: Q1 2011 State of Social CRM and CRM From An EMEA Point Of View
- Best Practices: Applying Social Business Challenges To Social Business Maturity Models
- Research Summary: Software Insider’s Top 25 Posts For 2010
- Best Practices: Five Simple Rules For Social Business
- Research Report: Constellation’s Research Outlook For 2011
- Research Report: How The Five Pillars Of Consumer Tech Influence Enterprise Innovation
- Research Report: Next Gen B2B and B2C E-Commerce Priorities Reflect Macro Level Trends
- News Analysis: Jive Fills Warchest, Ready to Battle Enterprise Software Giants And IPO?
- Tuesday’s Tip: Applying The Five Stages Of Adoption Towards SCRM Projects
- News Analysis: Lithium’s Acquisition of Scout Labs Ups The Ante in Social CRM
- News Analysis: Biz360 Acquisition Signals Attensity Group’s Move Into Social CRM
- Monday’s Musings: Avoiding Failure In Social CRM Projects Requires Ecosystem Coordination
- Research Report: The 18 Use Cases of Social CRM – The New Rules of Relationship Management
- News Analysis: Siperian Acquisition Vaults Informatica Into An MDM Leadership Position
- News Analysis: Jive and Radian6 Partner – Great For Business, But Could Fragment IT Systems
- Event Report: Salesforce.com Pushes Social CRM Technology — But Don’t Expect Companies To Be Successful With Tools Alone
- Monday’s Musings: Why Every Social CRM Initiative Needs An MDM Backbone
- Personal Log: Altimeter Group – Helping Organizations Bridge The Technology Obsolescence Gap
- Monday’s Musings: 10 Essential Elements For Social Enterprise Apps
Reprints can be purchased through Constellation Research, Inc. To request official reprints in PDF format, please contact Sales .
Although we work closely with many mega software vendors, we want you to trust us. For the full disclosure policy, stay tuned for the client list on the Constellation Research website.
* Not responsible for any factual errors or omissions. However, happy to correct any errors upon email receipt.
Copyright © 2001 – 2012 R Wang and Insider Associates, LLC All rights reserved.
Contact the Sales team to purchase this report on a a la carte basis or join the Constellation Customer Experience!
RSS feed for comments on this post. — TrackBack URL — Edit blog post