How To Turn Social Media Assets Into Social Co-Creation Assets

While co-creation is certainly a hot topic these days, the fact is that for most companies, social co-creation is relatively immature. Based on a panel survey of consumer product strategy professionals conducted in Q2 2010,  just 38% of companies use social media to to involve consumers directly in the product creation or innovation process (that is, 46% of the 83% of companies who engage with consumers using social media). Consumer product strategy professionals who are using social media assets to enable co-creation are doing one or more of the following:

  • Engaging with fans on Facebook, Twitter, corporate blogs and public communities to generate ideas and opinions about products and services;
  • Generating new ideas through dedicated ideation sites (like Ford’s “Your Ideas” site);
  • Leveraging existing listening platforms to reveal product ideas from online conversations, either on the company’s own site or elsewhere on the Web;
  • Analyzing online product ratings and reviews to uncover areas of improvement or unmet needs in the marketplace; or
  • Using private online communities to create a dialog with a specific audience for product creation purposes.

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