AE Marketing Manager, Alexa Jackson, discusses the elements necessary to start a co-creation project at your company in this Marketing Minute. This video helps executives who are unfamiliar with co-creation or are familiar with the term and are considering implementing a CoCreation strategy.READ FULL TRANSCRIPT
Hi, I’m Alexa and this is a Marketing Minute on co-creation.
Co-creation is a buzzword these days, in fact, a recent IBM global research study showed 61% of leading CMOs are using co-creation and it is having a huge impact on their businesses.
Companies like J-Crew, BMW, Network Health, Dominos, and more are using co-creation as a strategic advantage to to give everyone – employees, customers, and non customers – a seat at the design table to build better products, services, and experiences – together.
Since 2013, AE has guided companies along their co-creation journey – so you may be wondering, what are the elements necessary to start a co-creation project at your company? Here are 5 that matter to us:
For starters, co-creation takes vulnerability. That means your brand must be willing to venture out into the market and engage with consumers to hear the good and the bad about your company, its employees, and your own industry.
However, it’s not enough to simply hear what consumers have to say – you must also be listening to what the market tells you, and then act on it.
Next your brand must provide clear and consistent communication with your employees and external partners to set proper expectations around roles, responsibilities and possible outcomes from the process.
Co-creation requires you to provide customers and at times, non-customers ownership, by giving them a seat at the design table. By bringing these consumers inside the walls of your organization to work hand-in-hand with your employees, you will create a meaningful partnership.
Now, every brand’s co-creation journey may be different, but there is one thing that must be consistent – and that’s commitment.
Because, in the eyes of a consumer, there is nothing worse today than a company that makes a promise it doesn’t end up following through on.
So to review, there are five necessary elements for your brand before embarking upon a co-creation journey of your own: vulnerability, listening, communication, partnership, and commitment.
If you are interested in co-creating with us, contact us. Thanks for watching and we’ll see you again next week.