Company Performance Metrics
Ulrike Eglhofer: Managing Director
Solvster believes in the collaboration of consumers and companies as the most effective way to develop new successful products.
Founded in 2009, Solvster provides the first global social commerce solution for a collaborative product development process. Harnessing the power of over one billion online user and creating a competitive edge web-based
process for companies.
Solvster enables companies to identify potential new products with three modules. The TrendQuest generates future trends of a product or industry, based on experts’ opinion and consumer feedback. In a second step consumer provide ideas relevant to the trends in the IdeaQuest. Ideas best meeting company criteria are finally traded in the ShopQuest, identifying the potential next best-seller ready to get proto-typed and fully developed.
Solvster provides access to the modules at a fixed rate of Euro 4.900 to companies without the need to invest in infrastructure or software. More than 2.000 Members from over 50 countries and all global regions have registered in only the first month of operations - and are ready to collaborate.
Our Members on "What is the Future of Consumer based Product Development?"
90% agree with "Companies spend up to 15% of their revenue and up to 2.5 years in developing new products. What they typically achieve is a 20% chance to create a new product they can sell. This needs to change drastically, by involving the consumer in creating new products in all aspects of the development process. Companies will achieve a higher return on investment and a higher chance for a marketable product."
92% agree with "Traditional Consumer Research is inefficient in translating the consumer needs into reliable information companies. The information flow is reactive — the consumer answers questions from the company, but is limited to give information about need for products pro-actively. Consumers today do share information with companies already pro-actively in many areas. So for sure they will share - what they need from companies."
94% agree with - "50% to 75% of ideas for better or new products are based on consumer input. Direct collaboration will benefit companies in getting better products faster."
98% agree with - "More than 1 billion internet users globally spend about 5 - 20 hrs/week online. 10-30% of them develop new products for their own use and they are willing to share product innovation if they get incentivized for it. Consumers will be collaborating with companies if seen as equal partners."
