There are two types of innovation campaigns:
1. Idea Challenge
An idea challenge is centred on stimulating creativity to collect the best ideas. It is a targeted innovation technique that you can use to identify a problem, a demand, or any other areas for improvement, as well as create unique and innovative solutions.
Idea challenges generally begin as a query directed to a specific audience as required by other predetermined criteria.
Most of the time, these idea challenges come through competitions that are sponsored by either a company, an organization, or a government agency.
Participants then submit their own ideas to determine a significant problem or identify a specific solution that the company can use to further its innovation agenda. Once their concept gets chosen, they win a certain amount for a prize or any other reward as decided by the sponsor.
An idea challenge can either be problem-centric or solution-centric.
In a problem-centric idea challenge, the goal is to identify problems before developing solutions.
This type of idea challenge entails researching several urgent problems and assessing their importance in the industry.
It aids the organizing team’s study in discovering repeating themes, improving the scope of specific issues, and eventually identifying a particular problem to focus on. A problem-centric idea challenge aims to discover and define prevailing matters to work on.
In a problem-centric idea challenge, the problem is already known; thus the emphasis is on finding the best solution. It develops concepts and ideas to address the company’s issues and hones them further into something prepared for implementation.
Essentially, this type of idea challenge entails choosing the best solutions with the greatest likelihood of being implemented and delivered according to a set of criteria pre-established by the organization.
Overall, whatever type of idea challenge it may be, the end goal is always to spur creativity by creating the best concepts and perspectives that would inherently lead to identifying unique problems and implementing innovative solutions.
2. Open innovation
Open innovation is a term used to describe the process of collaboration between businesses and people outside the organization to create new products and services.
With a rapidly changing business landscape, businesses need to be open to new ideas from outside their organization in order to thrive and survive.
While traditional innovation methods focused on keeping all ideas and intellectual property within the company, companies should instead focus on creating an ecosystem where they can access the best ideas from anywhere in the world.
This could involve partnering with other companies or institutions, customers, acquiring small start-ups, or even licensing patents from individual inventors.
Open innovation has since become an essential part of many business strategies and has been credited with entering new markets and developing new products.
Some common types of open innovation campaigns include:
A hackathon is an event where people with different skill sets come together to solve a problem or create something new. The word “hack” refers to finding a creative solution to a problem. In hackathons, teams of programmers work together to create new software applications.
These events are important because they provide an opportunity for programmers to collaborate on projects, share ideas, and learn new programming techniques.
They also allow companies to identify talented programmers who can solve problems quickly and efficiently. While hackathons are often associated with the tech industry, they are also becoming popular in other industries such as healthcare and finance.
For example, hackathons have been used in healthcare to develop new apps that help patients manage their healthcare regimens. While in finance, hackathons have been used to create new financial tools and applications.
Regardless of the industry, hackathons are essential to bring programmers together to solve problems and create new applications.
These are campaigns where companies reach out to the public for ideas or solutions to problems.
It is the process of gathering expertise and ideas from people outside the company—or at least the company’s division- that is launching the campaign.
When you want to gather opinions, suggestions, and ideas on a specific subject or difficulty, you can use this technique to receive suggestions or comments on your products, processes, and services from external resources like your consumers.
By its nature, this type of open innovation campaign is available to a huge public, which might draw thousands of participants.
A brainstorming session is an essential tool for innovation. By bringing together a group of people with diverse perspectives, a brainstorming session can generate new ideas and spark creativity.
Brainstorming sessions can be used to solve problems, develop new products or services, or simply to generate new ideas. Here, you can invite both your employees, customers, stakeholders, and other relevant people as participants.
Together, you can tackle a problem, discuss, and evaluate potential solutions with predetermined criteria.
The key to a successful brainstorming session is to create an environment where participants feel comfortable sharing their ideas, regardless of how “out there” they may seem.
This means encouraging wild ideas and discouraging criticism or judgment. Brainstorming sessions can be highly productive, but only if they are conducted correctly.
Co-creation is a process where customers or users are involved in the development of new products or services.
This could involve something as simple as asking customers for their input on a new product design or allowing them to test a new product or service before it is released.
Co-creation can be a meaningful way of getting feedback from customers. In addition, it ensures that new products or services meet their needs.
As co-creation values the opinions and insights of your target audience, this method can help you build customer loyalty. Moreover, it helps you become more agile and responsive to change, increasing customer engagement and boosting innovation and creativity.