Brands are signing up for co-creation (also in Spain) January 10, 2013
It is not a new trend: the term was coined in 2000 by CK Prahaland and Venkat Ramaswamy in an article in the Hardward Business Review , and later “enthroned” in the book The Power of Co-Creation that Ramaswamy published in 2010. What is new is the intensity it has gained in the last year , and the applications that companies are making of it, also in Spain.
It is a business or marketing strategy based on the country email list generation of joint activities between the company and its customers , which provide mutual value. It is based on the premise that markets are discussion forums where companies and consumers can share, renew, and combine their own resources to create new avenues for interaction and services . The customer thus takes on a fully active role.
The result?
Creating new value experiences for individuals, reducing costs and risks for both the company and the customer, and increasing returns for the company.
One of the biggest catalysts for this type of action is the online platform eYeka , founded in 2006 in France, "where people and brands create and sell products together." It currently has a community of around 230,000 members in more than 150 countries , which brands can turn to to design products, find new creative ideas, and develop campaigns... rewarding the ideas with cash, of course. Companies such as Actimel , Coca-Cola, Intel, Kraft, Oreo, and Philips already use these services regularly. Examples? Ariel is currently looking for videos with surprising stories that present cold as the best option, and Corneto is asking for help showing teenagers, with fun videos, how its ice creams can help them express their love for each other.
Companies like Starbucks have made co-creation a "permanent mode." In 2008, they launched My Starbucks Idea (), a website where customers can submit product, location, experience, and action proposals to the brand, check their implementation, and vote on other ideas. To date, they have received, among others, more than 32,500 proposals related to their coffee shops and 14,000 proposals related to the decor and location of their stores.