Innovation and Co-creation by Doug Williams #ACEI_CO #InvestigAction2013 #MRX

… Live blogging from Bogoto, Colombia, any errors are my own, any comments in [] are my own…

ACEI Bogoto Colombia

Para leer esto en español, por favor, copie pegarlo en Google. Una mala traducción es mejor que ninguna traducción.

  • the pepsi challenge proved that people liked the taste of pepsi more than coke, so in the 80s, coke came up with “new coke” But, in 79 days of the launch, the old coke was back. People didn’t dislike old coke, but coke didn’t understand what people wanted from their soft drink.
  • people have a deep and abiding emotional attached to original coke and it caught coke by surprise, you can’t measure it anymore than you can measure love or pride — this is not true. coke simply asked the wrong questions in their research
  • stop gambling and think about co-creation as an important tool
  • innovation is a change that creates value
  • open innovation is an innovation that involves employees and consumers in the innovation process
  • co-creation is bringing consumers into the experience development process whereby both parties get something out of it
  • today, consumers live online and google glass is on its way
  • 8 of 10 internet users in Colombia are on facebook, this means people understand how sharing information online works
  • millions of colombians are fans of brands on faceboook, they want to share their opinions and that is what co-creation is all about
  • case study of airport business hub design in Bogota – used high financial value incentives for participants who could vote for the best ideas
  • some ideas included having a bike lane inside the building, signs on the ceiling, suggestions for new lighting and unusual colours, scooters in the office
  • why is co-creation necessary – risk averse companies may not want to waste resources here and rely on what worked in the past, but that doesn’t work in todays world
  • risk accepting companies harvest creative new ideas to identify unmet needs and create value
  • companies like communispace offer tools that let consumers and brands come together and chat, answer questions, provide opinions, in an online community
  • co-creation allows things to happen – you may not have expected it but there was a space to catch things you didn’t plan to catch
  • markets are being disrupted more quickly today than ever, think of companies like weight watchers that must now compete with apps, taxi services also need to compete with apps [check out lyft which is regular people offering rides to strangers]
  • “no one gets fired for buying IBM” i.e., a well-known company should be good. but this isn’t good for staying ahead of the crowd
  • you must first ask if co-creation is the right tool for your objective
  • might also be seen in things like crowdsourcing (ask everyone what colour M&M they want), ideation (the suggestion box model), private communities, contests, in-person
  • fight uncertainty with success practices – best practices are still being learned but you can be guided by past success stories
  • 1) align your community with your objectives – all consumers or young men or Italian people, talk to the RIGHT people, not necessarily a census rep sample or what the standard deviation is
  • 2) align your engagement with your community – don’t go right to facebook without first checking if your community is on facebook
  • 3) create meaningful incentives to encourage participation – match the incentive to the people, and it doesn’t need to be really high value
  • 4) iterate through co-creation – you can recontact people over time and through iterations
  • 5) cede control to your co-creators – you don’t know all the answers
  • 6) share the outcome – people need to know what happened, were my ideas valuable? tell them even if was a year down the road
  • [lots of great short case studies were presented]
  • example of co-creation: make walkers for seniors look nicer, ask for ideas from seniors and their caregivers, result was models that looked great and served new needs such as allowing them to get really closer to a counter:
  • the point is not to sell, the point is to get ideas, obviously dollars count later on but not during the co-creation phase
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