For this, brands must welcome new ideas from their customers.
This article states the importance of co-creation to the strength of a business. Co-creation could mean giving customers the opportunity to create products or their own media, for some brands. For others it could mean going beyond addressing existing consumer concerns and engaging them on “what could be better”.
The author notes that, ideally, co-creation needs to be about brand innovation through a holistic and co-creative approach that even includes customers. For innovation to happen, co-creation must be at the center of an innovation process.
To start off, brands must get involved in conversations with customers across social media platforms. The purpose of this is to create a dialogue that welcomes new ideas. Ultimately, the aim is to make a shift from being “inside-out” to “outside-in” in terms of product innovation.
[3 minute read]