COCREATE WITH CONSUMERS ON DIGITAL PLATFORMS – helps you to understand your customers and thus generate new growth
McKinsey published an very interesting article: New insights for new growth: what it takes to understand your customers today, written by By Jonathan Gordon, Volker Grüntges, Vicki Smith, and Yvonne Staack. They studied, what do Unilever, Philips, Amazon, and Netflix have in common, to be able to identify new approaches to lead growth opportunities.
They found out that all these companies drive growth by meeting consumer needs better than their competitors do. Core to this consumer focus is a strong belief in insights, and in the active use of a diverse mix of insight tools—new and old, qualitative and quantitative, digital and analog—to get better answers.
One of their main finding was that by cocreating with customers on digital platforms helps companies to generate the kinds of insights that lead to new growth opportunities.
Develop products and services that your customers really want
Manufacturers of consumer products are inviting their customers to generate new ideas to advance their product development and gather feedback on new products, even before launch. This goes beyond just listening to customer preferences and bringing them into the creative and development process. When done well, cocreation can reduce market-research costs, increase customer loyalty, and develop the products and services that customers want.
Procter & Gamble became a high-profile proponent of this approach when it launched its Connect+Develop program, which aimed to leverage external idea generation for future product development. One of the innovations that originated from this program was the Swiffer range of cleaning products that collectively contribute about a billion dollars in annual sales.
More recently, Unilever made headlines when it created a new hair-care range, TRESemmé Fresh Start Dry Shampoo, with the help of consumers. It learned that half of US women do not wash their hair every day, even though many of them feel insecure on the days when they don’t.
To learn more, Unilever engaged with women in My Beauty Café, an online community dedicated to hair care and beauty regimens. Community members contributed to every step of product development, from initial ideation and concept refinement to sample testing, packaging, and advertising. Launched in 2010, the new range generated first-year sales of almost $8 million. Subsequently, Unilever’s share of the US mass hair-care
market jumped from 9 to almost 16 percent. Today, Fresh Start Dry Shampoo is one of the ten best-selling products in the overall styling category in the US mass market.
People2Join – an example of a modern digital tool
For me this article was very encouraging. We need the best mix of tools: new and old, qualitative and quantitative, digital and analog—to get better answers. Our digital crowdsourcing platform People2Join is an example of a modern digital tool, which help you to get the most relevant results. People2join platform interacts automatically with all participants and automatically prioritises the ideas based on the campaign targets. You will get only relevant ideas in a very cost efficient way. We also help our clients to benefit the most of the tool. In the end, it is a channel to increase people’s sense of influencing, which engages people and motivate them to give you the best insights.
Co-Founder, People Power Strategist