As explained in our Marketing Minute video, co-creation is the design of new products, services, experiences, or business models in a collaborative environment. It gives everyone – employees, customers, and non-customers – a seat at the design table and allows all voices to be heard in a collaborative and interactive space. Implementing a co-creation strategy allows brands to hear input and ideas from all parties involved in the creation and use of their products/services, in turn, allowing them to create what consumers truly desire.
Utilizing co-creation can improve product/service design, boost market/customer loyalty, support employee engagement and customer experience, increase sales/revenue opportunities, and provide a competitive advantage for brands.
According to Forbes, although we can all point out innovation in product development and marketing that has sprung from the brilliance of one mind, the truth is that most innovation happens when co-creation is at the center of the process. That usually means involving not only the internal resources of the company and team charged with innovating but also the external influence of its customers and the corporate culture.
Implementing a co-creation strategy within your company may sound complicated or conceptual, but it is quite simple at its core.
Before bringing in any customers or non-customers to gather input, it is vital to first understand your buyer personas to ensure you are speaking with the right people. Once identified, bring these consumers inside the walls of your organization and make them part of the process by allowing them to work hand-in-hand with your employees.
Since launching the Co-Creation Lab Series™ in 2013, AE Marketing Group has guided companies along their co-creation journeys. We work with executives, employees, customers, and non-customers at healthcare companies, CPG brands, nonprofits, and more, to help them create better products and services together.
Learn more about AE Marketing Group’s Award-winning Co-Creation Lab Series™ here.