Understand what co-creation is and how to put it into practice in your company – WAU
Co-creation is a strategy that brings external agents into the processes of a certain company with the aim of fostering innovation. This initiative makes it possible to differentiate the brand in the market as well as bringing this company closer to its respective customers.
Consumer demands and desires are increasingly important for the success of Marketing strategies and other sectors of a business. In this way, some companies bet on techniques that bring them not only to customers, but also to suppliers and even competitors, all this to further increase the efficiency of your actions.
From the direct participation of external agents in the processes of creating an organization, the tendency is the production of a product and / or service that meets the wishes of the market, generating better sales results, for example. The concept of co-creation, therefore, is gaining more space within the corporate market.
Want to learn more about this open innovation approach? So continue reading this article and find out what co-creation is, the advantages that this strategy can offer to your company, which areas are the most benefited within an organization and, of course, how to apply this concept successfully. Check out!
What is co-creation and how does it work in practice?
In an internal creation process, professionals from a company are dedicated to better understand what the consumer is looking for and, thus, offer a product and / or service more in line with the customer’s demands, increasing the chances of success. In co-creation, however, external agents also participate in this process.
The idea of this concept is to bring customers, suppliers and even competitors of your company closer with the objective of creating solutions that are cheaper and more efficient for the final consumer, for example. After all, better than knowing in depth who you want to impact, is to count on the help of your target audience in the creation.
For the strategy to work correctly, four fundamental pillars need to be applied:
- dialogue between the parties to achieve the objectives set;
- access to resources and information by both parties;
- understanding not only the benefits, but the risks of the strategy;
- transparency in all actions.
The most common uses of co-creation are through partnerships with consumers and suppliers. But in practice, how does it work? When we talk about employees, this idea is simpler to be visualized, after all, both sides are interested in creating a more direct, productive and efficient relationship.
Whether to create a more organized process, a more efficient system or even to make the communication channels more effective, the important thing is to solve any problem that may hinder the relationship between company and supplier. That is, create a solution that is more efficient and generates less costs for both parties.
Co-creation can also be very efficient with the help of consumers. In this case, the idea is rely on ideas from the public you seek to impact. In other words, this means getting, through feedbacks, research and tests, suggestions and opinions from customers so that the process of creating a product and / or service is more accurate.
What benefits does this strategy offer?
Currently, thinking about customer satisfaction with your brand is practically a must for any company to succeed. Therefore, organizations need to innovate in their strategies, and co-creation is an excellent option. After all, the benefits generated by the correct application of this concept are many for all parties involved.
When we talk about co-creation with suppliers, the main benefit is precisely the ability to optimize an organization’s processes. That is, making activities more accurate, efficient and cheaper. Response time becomes faster and there is more flexibility to perform internal operations.
Regarding the process of co-creation with the consumer, two advantages stand out: approximation between customer and brand, in addition to a end result closer to what your target audience wants. Thus, the product and / or service offered ends up becoming exclusive, a competitive differential, increasing the chances of success in the market.
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What situations can be optimized with co-creation?
Some sectors of a company can benefit even more from co-creation strategies. When we talk about Digital Marketing, for example, this concept can be very efficient in identifying which actions and campaigns will be most impactful to achieve better returns or the communication channels to be used.
Understanding the pains, demands and goals of your consumer is the best way to create a closer relationship with the customer, an important step towards customer loyalty. Co-creation allows precisely this for the company: to know exactly which actions will be the most beneficial for a lasting relationship with the customer.
What actions to take to put co-creation into practice?
Despite the countless benefits, co-creation cannot be applied in any way, requiring planning and organization to be successful. Therefore, some points must be taken into account to put this strategy into practice. Check out!
Define a goal
The first step is to define a goal: create more efficient internal processes, improve customer service or offer a service that meets exactly what the customer is looking for?
Define who will help
With an established goal, it is time to encourage the participation of external agents, whether consumers or suppliers. Define how to co-create: surveys, meetings, tests or even opening the creative process to customers’ ideas.
Execute the strategy
Then, it’s time to put it into practice, that is, filter the best ideas and understand the viability of each one, either with consumer suggestions or with suppliers’ ideas to optimize internal processes.
Co-creation is one of the most efficient approaches when it comes to open innovation. Based on the correct practices, it is possible to create actions that really bring consumers and suppliers closer to your company. These external agents can contribute directly to the creation of a product, service or process that results in better results.
Now that you know what co-creation is and how this strategy can make your actions more efficient, how about understanding the importance of ensuring that consumers relate positively to your brand? Then check out everything you need to know to make your customer have the best experience possible.