What is Co- Creation? And why General Mills use it to re branding the product “Wheaties”
Co-Creation, per Forrester Research, is “the act of involving consumers directly, and in some cases repeatedly, in the product creation or innovation process. Companies engage with consumers on initial product concepts and ideas, and they use consumers as a resource throughout the product development life cycle.”
Companies do so by leveraging the powerful creative and truly engaged portion of the online community to power product and service innovation, strategy, and research. Think of it as part crowdsourcing, part conversational social media.
Co-Creation can go beyond working with consumers to include similar processes in the B2B and enterprise space. The forum will bring the various constituents together to discuss all of the tactics and possibilities latent in this ever-growing and morphing space.
Co-Creation separates itself from the notion of “Crowdsourcing” and “Social Media” in its focus on:
- Innovation & Research as opposed to strictly Marketing and Engagement (Social Media)
- Working with the community as opposed to simply commanding the community (Crowdsourcing)
- The smaller group of active “creators” in the larger network of users (Both)
Insight & Research – Activate subsets of a community to unveil a consumer’s unmet needs, attitudes and expectations in regard to any part of the product life-cycle.
Innovation Generation – Working with communities for idea-driven innovation around products, services, experiences, and general strategy.
And much more… Co-Creation is still in its infancy. New uses and methods are thought up everyday the possibilities really are endless.
The Groundwork Has Been Laid: The Rise of Social Media and Pro-sumer Experts
The rise of the Internet and social media has given birth to a new level of active pro-sumer hobbyists and experts. Whether it is something tangentially related to their chosen expertise or something completely different that they are simply interested in, these active content creators and idea pontificators are excited about doing work others might deem as mundane, often for their love of the craft and excitement in sharing their ideas and moving an industry forward.
Innovation is Faster Than Ever: The Hegalian Dialectic On Rocket Fuel
The Cross-Pollination of ideas is where real innovation happens. Looking back, the foundation of any renaissance period is openness of discussion and the exchange of ideas. In recent years, Social Media tools have helped speed up this process to an unfathomable extent. People of different backgrounds and make-ups can swap ideas at lightning speed fueling the Hegalian Dialectical with the equivalent of rocket fuel.
What’s Left? Harnessing this for Business Innovation.
Co-creation isolates and leverages these innovative communities to help power innovation in corporate strategy, research, marketing, and more.
Wheaties has brought some of today’s Champions together with Nutritionist Dr. Ivy, Ph.D. to the new Breakfast of Champions. In this webisode, Dr. Ivy goes out to meet with our Elite Athlete Panel Peyton Manning, Kevin Garnett, Hunter Kemper, Bryan Clay, and Albert Pujols and talk to them about being a part of this Wheaties project.