Co-Creating with consumersSocial media meets product development

Greg Piche – Innovation Sourcing Lead

Overview

•Defining Co-Creation

•Why Co-Create?

•Our Co-Creation Social Architecture

•Examples from our co-creation efforts

Co-Creation Definition

•From Wikipedia:“Co-creation is a form of market or business strategy that emphasizes the generation and ongoing realization of mutual firm-customer value. It views markets as forums for firms and active customers to share, combine and renew each other's resources and capabilities to create value through new forms of interaction, service and learning mechanisms. It differs from the traditional active firm - passive consumer market construct of the past.” (http://en.wikipedia.org/wiki/Co-creation)End-users designing products

they love

Why Do We Believe in Co-Creation?

•Better designs/functions

•Sharper benefits

•Engaged consumers

•Word of mouth army upon launch

•Business impactful metrics

Tools we needed

•Owned social media property

– ToU’s

– Confidentiality

•Listening/scouting tools and resources

•Legal framework

– Skill based contests require special attention

•Cash awards

•Community manager

Our Co-Creation Approach (Collab. Consumption)

•Listen/Find (Twitter/FB/Owned X with Linked-In)

•Invite to an owned-property (ToU’s)

•Moderate to common language

•Post Challenge

•Feedback

•Distribute funds

•Continue to engage community during development

Co-Creation Social Architecture

X

Innovation Launch

X X X

Value of owned property

Co-Creation in Practice (Recruiting from owned)

Why we like it – Cool Results/Engaged Consumers

Build versus Turn-Key: Considerations

•Turn-Key solutions– Speed, resources

•Built solutions– Lower cost/use – eventually..

– Faster than turn key – eventually..

– Better understood creatives

– Requires sustained effort

– Ongoing engagement

– Better control over WOM output

Summary & Q/A

•Social Media Co-Creation

– Engages the consumer in a unique, exclusive opportunity

– Bridges the gap between development and marketing functions

•Let’s talk!