For centuries, becoming an “inventor” has been a hard gig to crack. Complexities relating to financing, engineering, distribution, and legalities have stood in the way of brilliant people executing on their great ideas.
Since launching in 2009, Quirky has rapidly changed the way the world thinks about product development.
We bring at least three brand new consumer products to market each week, by enabling a fluid conversation between a global community and Quirky's expert product design staff.
The world influences our business in real-time, and we share our revenue directly with the people who helped us make successful decisions.
Here's the breakdown:
Influence is a real-time measure of your contributions to a project.
There are many ways to get involved with Quirky, whether you’re submitting a winning invention, voting on member ideas, or pitching in on a design project. If any of these contributions impact a finished product, you’ll earn yourself a share of the profit, and influence is the way Quirky measures that share.
Influence comes in the form of a percentage: specifically, a percentage of the community’s total share in a product. See, once a product is manufactured and sold, the Quirky community receives 30% of the total revenue generated by direct sales on Quirky.com, and 10% of the revenue from indirect sales (wholesale orders and worldwide retail sales). This community pot is divided among all the community members who influenced the product, based on each member’s influence percentage. Still confused? No worries, there’s more to it.
So how does it all work?
Think of the Quirky influence engine as a complicated, evolving recipe, made up of many different ingredients. Each phase of the development process represents a single ingredient, and a portion of the total influence for that product. No two products are alike, so the number and type of phases that are needed for each product may vary, but the total influence will always add up to 100%. Here’s the breakdown on the different ways you can participate, and the influence you’d stand to earn:
Idea Submission (42%)
Got an awesome idea that you can't wait to reveal to the Quirky community? If your idea takes off and is picked for development, you'll receive the largest percentage of the community pot when your Quirky product starts flying off shelves!Collaboration (6%)
Found an idea submission that you think you can improve? Submit a revision using Quirky's collaboration tool: if the ideator accepts your revision, you could earn yourself a portion of the collaboration influence. If no major revisions are submitted and accepted, this percentage is added to the Winning Votes influence total, described below.Comparison (3%)
Product development is competitive, so Quirky encourages users to browse the web for products that are similar to submissions, and to submit them as a Product Comparison. Each submission can have a total of five, and the 3% influence from a winning product is split between all users who submitted comps for ideas Under Consideration (not just ideas that were selected).Winning Votes (9%)
Have you stumbled upon an idea submission that you want in your hands, RIGHT NOW? Vote for it! If the idea you voted for is selected, you’ll have earned yourself a piece of the revenue pie. The 9% influence is divided amongst all voters for a winning idea.Research (5%)
Quirky conducts market research in the form of surveys: help us out with some answers, and you’ll earn a cool percentage of the product’s retail revenue. We split the project’s 5% influence between everyone that participates!Design (5%)
Our design team wouldn’t be able to launch two ideas a week without your help. If you submit an idea for a new feature or improvement that they use in a final design, you'll receive up to 3.75% of that product's influence. Voting for a selected idea earns you influence as well. Winning ideators split 3.75% of the project’s influence, while winning voters split a total of 1.25% influence.Refine (5%)
There’s always room for improvement, don’t you think? We’ll open up this phase when we need your help smoothing out the kinks in the design process. 5% of the product's influence will be split between those who participated.CMF (5%)
Color. Material. Finish. Our design team provides the choices, and you pick them! The project’s 5% influence is divided among the members who voted for the winning option.Naming (5%)
Every product needs a name, and who better to pick one than the folks who helped design it? Members can submit and vote on potential product names, and we'll pick the winner out of the most popular choices! The winning name will receive 3% of the influence, and all who play will split the remaining 2%.Tagline (5%)
A product's name may give it an identity, but the tagline gives it character. Much like the Naming phase, this project allows members to submit and select product taglines. 3% infuence goes to the winning submission, while 2% goes to the folks who helped us out.Pricing (10%)
Help us price our products, and watch the influence roll in! When a new product is launched on the Upcoming Page, a seven day countdown is started. Share your input on the product's price before the timer runs out, and you'll be awarded a portion of influence! The total 10% influence is split between those who shared data within the first 7 days.Keep in mind that there’s no hard-and-fast rule or guarantee for earning influence.
Influence is awarded at the sole discretion of Quirky’s platform and team. A user’s influence earnings in a given project depends on many factors: the number of phases in the project, the number of people who contributed to those phases, the number of ideas submitted by the people who contributed to those phases… you get the picture. We are constantly working to improve and evolve our influence engine. Back to the cooking metaphor: the ingredients may stay the same, but the recipe itself will vary.
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