How to measure open innovation?

The only metric for open innovation is an idea that came from an external source which improved a product.

Open innovation does not depend on any other metrics. It is not relevant how many innovators were engaged, how many innovations were added, how well the innovations were written or illustrated, who the external innovators are. None of it is important if you actually get the idea which improves your product.

Although open innovation works well with both marketing and sales, their metrics have nothing to do with open innovation. Marketing is interested only in large numbers and sales is interested only in revenue, both of which are useful tools for open innovation, but are not a metric for it.

I am not saying marketing and sales metrics are not relevant. I am saying that large numbers and bigger revenue do not guarantee that products will be improved with external ideas. And companies that keep attracting ideas and keep improving their products will simply be more competitive.

To start using open innovation in your company today email Andrea at andrea@openinnovation.me.

PS Open innovation can be used to improve much more than just a product but for the sake of having a quick definition I used “product” only.