Blog-Cover
LaunchLeap Blog
30 May 2016

The consumer is changing faster than he ever has. For large, complex companies, keeping up with the pace of change isn’t easy – and we have seen many companies pay the ultimate price: Polaroid, Alta Vista, Kodak, Blockbuster... and the list goes on.

To keep up with the rhythm of their customers, companies need be able to reinvent themselves and their product offerings in order to adapt to external trends and bring fresh, original ideas and products to the table. Companies can no longer afford to get complacent and stick with a linear, conservative approach to innovation by simply investing in classic, internal R&D in order to differentiate themselves and adapt to the shifting market. Thus, a portion of companies is starting to outsource their ideas. One way of doing so is by collaborating with their own customers to know what they want next?

“One of the things that happens when you write books about the future is you get to watch your predictions fail.”

KOTLER STEVEN, The acceleration of acceleration;
how the future is arriving far faster than expected, Forbes, Entrepreneur, February 6th 2015

To keep up with the rhythm of their customers, companies need be able to reinvent themselves and their product offerings in order to adapt to external trends and bring fresh, original ideas and products to the table. Companies can no longer afford to get complacent and stick with a linear, conservative approach to innovation by simply investing in classic, internal R&D in order to differentiate themselves and adapt to the shifting market. Thus, a portion of companies is starting to outsource their ideas. One way of doing so is by collaborating with their own customers to know what they want next?

This idea of customer collaboration, most commonly known as co-creation, is a sub-concept of open innovation, a field developed between the 1960s and 1970s. Co-creation was seen as a new approach that allowed consumers to add value to an organization. Some companies have already been co-creating for many years now and have successfully integrated the practice in their businesses.

Even though you might have heard about co-creation and how consumers are increasingly working with companies, people are often not sure about what all this implies. This is because each company adapts and matches with the profile of their power users as well as their business approach. There are no set guidelines on how to make use of your crowd to create a mutually beneficial, creative relationship. This trend is actually still in early days, with large, innovative companies experimenting more and more with how they can use their crowds to produce better products and services ready for market. A few examples of early-adopters of this approach would be IBM, General Electrics, Budweiser and Coca Cola.

One of the best cases and a successful pioneer of this movement is LEGO. Have you ever asked yourself how LEGO is still managing to still stand up straight as the toy industry is falling apart? The solution lies in their collaborative strategy, which enables consumers to integrate the decision process of the company. More on this in our next post!

Profil Pic By Arthur

09 Jun 2016

For the last decade, LEGO has proved that building and working with a large community is possible and brings benefits to both users and the company. How did they come up with the idea? And more precisely, how did a children’s toy company end up with a strong community of passionate adults?... Read More

Profil Pic By Arthur

10 Feb 2017

Léché Desserts has been open for almost 5 years now, and has become an obligatory stop for doughnut lovers. Owner Josie Weitzenbauer tells us about why she started this venture and how her customers influence everything she does. ... Read More

Profil Pic By Camille Ngovandan

03 Mar 2017

“It almost took us a year to build what Candide is today. We really did everything in cooperation with our customers.” Mickael, co-owner, tells us how their customers contributed to the evolution of the neighborhood coffee shop. ... Read More

Profil Pic By Camille Ngovandan

Back to Top
Back to Blog