use an online community to develop a better offering A lot has been written over recent years about the ‘co-creation of value’, and with good reason. It is a powerful concept bringing together the two most important components in the marketing equation – the customer and the product. Co-creation of value is all about the […]

use an online community to develop a better offering A lot has been written over recent years about the ‘co-creation of value’, and with good reason. It is a powerful concept bringing together the two most important components in the marketing equation – the customer and the product. Co-creation of value is all about the customer working with the business to develop a product offering that best addresses both of their needs. In line with this, a survey of Fortune 500 companies found that 86% considered that online communities provide insights into consumer needs. This same research found that: 96% of companies see value in customer collaboration online 66% of companies say they use communities for product development 71% of companies use customer collaboration for market research Customer collaboration is an effective means of pursuing the co-creation of value – a win-win situation where the customer gets the best possible…