Companies that co-create are fast growing companies
At InSites Consulting, we recently conducted a study among 500 senior marketers in the UK, France, Germany, The Netherlands & Belgium. The study covered different topics of the implementation of conversation management in their corporations. One of the key conclusions is that companies who co-create with their consumers are faster growing companies than those who don't co-create.
A pretty important conclusion if you ask me. Not only taking into account the feedback from consumers, but actually involving them in the R&D process is positive for your overall company growth.
If you think about it, it’s actually pretty simple. If you involve your current brand fans to develop your future products, you create some sort of self-fulfilling prophecy. Brand fans that create their own product will of course buy the new product. Next to that, they will share the launch of the new product because they’re involved in it.
Our study showed that co-creation works best to develop upgrades of products. For consumers it is pretty difficult to come up with radical new product ideas. If you moderate the co-creation and you give them the ideas of your R&D people, then again they become valuable.
Brand positivists & people whose personal values are in line with the brand values. Further, it’s important to have innovators and influencers in the room. Innovators are great in coming up with radical new stuff, but influencers are good in evaluating which idea could become popular among the mass. So, you need both profiles in your co-creation lab.
In short: co-create, your innovations will become more successful and so will your final business result.