What does the future of co-creation look like? One could argue that that future is already here. Today’s youth has grown up being creative and generating digital content. Current technology enables this in a way that prior generations could never have imagined. We don’t need to look that far back to see how far forward …
Read MoreMarket Research: Three Benefits of Qualitative Research If you’re tasked with developing a new product for your target consumer, you may not be sure that the benefits of qualitative research outweigh the costs or time required to conduct the analysis. Studies show that the analysis is worth it because the more people feel connected to …
Read MoreCustomer loyalty is crucial when shifting marketing strategies. 82 percent of U.S. adults are loyal to brands, while 74 percent of millennials would switch to another retailer if they received poor customer service. Moreover, 61 percent of satisfied customers are very likely to recommend a company to other people, compared to just seven percent of …
Read MoreA popular rebuke to customer-led inspiration is attributed to the great 20th Century industrialist Henry Ford. If you’re a senior executive who believes in going with his gut, you can trot out (no pun intended) the Ford quote about faster horses as a reproach to customer-led inspiration. Well, our story could end there, but that’s …
Read MoreCo-creation – in particular, ideation or CrowdWeaving® as we like to call it – is not always cut and dry. There’s a lot of magic that goes on behind the scenes, in order to conduct a successful ideation session. Here are some of the things we like to keep in mind when conducting an ideation …
Read MoreCrowdsourcing and co-creation are powerful product development strategies that the internet age ushered in. However, some business leaders are still uncertain about what they involve, which one to use and why they matter. If you’re debating the co-creation vs. crowdsourcing issue and you’re trying to decide which would be better for an upcoming project, you …
Read MoreCustomer loyalty can be defined as the choice of any given customer to purchase your goods or use your services for comparable goods and services offered in the same marketplace. You gain customer loyalty by gaining a deep understanding of your customer base. Now, more than ever, it is important to understand the underlying needs …
Read MoreNot too long ago, when a company engineered products and services, it relied entirely on its internal development team (e.g R&D, Design, Packaging, Brand Teams, etc) to provide suggestions and evaluations. After they conceived the idea, created and fine-tuned those offerings, they released and marketed them without any further testing. Nowadays, consumers, suppliers, vendors, distributors …
Read MoreMost leaders of consumer research companies are aware of co-creation, whereby consumers, technology experts and other outsiders closely collaborate with a company for a certain length of time. Together, they imagine, design, build and market a new product or service. This hands-on process goes far beyond traditional marketing research methods, which primarily involve customer surveys …
Read MoreThere’s a good reason why the saying “the customer is always right” has endured for so long. Companies have always depended on input from consumers, but these days, business owners may be warier than ever of such feedback. Many of them even view it as unreliable. After all, consider the 2016 U.S. presidential election: Countless …
Read More