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Digital Concept: Co-Creation, Part 3

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Marketing in a Digital World

Universidad de Illinois en Urbana-Champaign

4.7 (5,625 calificaciones) | 240K estudiantes inscritos

Curso 1 de 7 en mercadeo digital Programa Especializado

This course examines how digital tools, such as the Internet, smartphones, and 3D printing, are revolutionizing the world of marketing by shifting the balance of power from firms to consumers. Marketing in a Digital World is one of the most popular courses on Coursera with over 150,000 Learners and is rated by Class Central as one of the Top 50 MOOCs of All Time (https://www.class-central.com/report/top-moocs/). This course is part of the iMBA offered by the University of Illinois, a flexible, fully-accredited online MBA at an incredibly competitive price. For more information, please see the Resource page in this course and onlinemba.illinois.edu.

Destrezas que aprenderás

Marketing, Digital Marketing, Marketing Mix, Pricing Strategies

Revisiones

4.7 (5,625 calificaciones)

5 stars
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HJ

Aug 08, 2016

Greetings ,\n\nThis course is very beneficial and i thank the professor and everyone else at Coursera.\n\nPlease direct me, to be a talented successful individual in Digital Marketing.\n\nThank You.

AN

Jan 18, 2017

Great! This first course is an awesome introduction to the digital marketing world. It will change your mind and will open your eyes to show what it's already happenning and you didn't realize yet.

De la lección

Course Overview and Digital Tools for Developing Innovative New Products

In this module, you will become familiar with the course, your instructor, your classmates, and our learning environment. Then, you will learn how new digital tools are enabling customers to take a more active role in developing and branding the products they consume.

Digital Concept: Co-Creation, Part 14:06

Digital Concept: Co-Creation, Part 214:18

Digital Concept: Co-Creation, Part 36:35

Impartido por:

Aric Rindfleisch
John M. Jones Professor of Marketing

Transcripción

[ Music ]

>> OK. Let's talk about some academic insights.

The research on customer co-creation is quite new

and still emerging.

So, there's a lot that we don't know

yet about this new innovation technique; however,

a number of key insights are starting to emerge.

I'd like to discuss two different studies,

one that's a bit older that was conducted about a decade ago

and a more recent one.

So, the first study and this is one of my favorite studies

in this domain is by Franke and Piller.

It was published in the Journal

of Product Innovation Management in 2004.

In this study, the researchers conducted a series

of experiments in which they asked participants

to design their own watches.

So, they had toolkits in which these participants could create

their own workable watches.

That's pretty neat and what they found was that the participants

who made their own watches were willing to pay more

for these watches compared to participants in other condition

who were given a professionally designed watch.

And they also found when other set

of participants were given both sets of designs,

they actually preferred the co-created watches

and were willing to pay more for them.

So, the results of this study suggest that users are able

to create attractive designs and, in addition,

they'll pay more for the ability to do so.

That's pretty neat.

The second study that I'd like to talk

about is a more recent study.

It came out in 2015 by He and Yan

in a journal called The Computer Journal.

In this more recent study,

the researchers actually conducted a blog mining study

to examine how social media is used to engage customers

in the co-creation process and this study revealed

that most co-creation activities are focused on the early stages

of the product development process.

Most are focused on idea generation rather

than further concept development or product launch.

That's interesting.

They also found that the very most successful firms are open

and transparent about how they intend

to use these contributions provided by their customers.

So, this suggests that in order to be successful in terms

of employing co-creation, firms need to release some control

and be less secretive

about their product development activities.

That's an interesting insight as well.

Now, given that we've talked about these academic insights

and my own research on customer co-creation,

let's talk about some practical recommendations.

If you're a firm trying to engage in this new form

of innovation, what should you do?

First of all, we have something called the rule of one.

Now, typically we see across most co-creation platforms,

only about 1% of all submissions are useful

and can be implemented.

This is a very low percentage, so what this means in order

for co-creation to work, you need lots of ideas and need

to provide incentives for many customers to contribute.

And that's a problem for many platforms.

Second of all, we find

that authenticity is especially critical.

Customers are much more likely

to contribute their valuable time and energy to firms

that have an authentic need for their help,

rather than just trying

to exploit them for commercial gain.

For example, Linux and other types

of open source software have a great deal of authenticity

because their very existence depends

on the customer co-creation process.

That's how they exist.

We'll talk more

about authenticity later on in this course.

Third, something I call patches and badges.

You know, we all like to be rewarded for our efforts.

We want to feel that our efforts matter.

So, customers who engage

in co-creation are no exception to this policy.

Most successful co-creation efforts award successful

co-creators by not just financial rewards,

but also through some visible symbol of recognition.

So, for example, NASA, which employs customer co-creation

for its space program, rewards successful co-creators

by giving them a special patch they can display

on their clothing.

In fact, NASA found that this patch was a much stronger

motivator than financial rewards.

And finally, don't be the bad guy.

As noted earlier, one of the dangers

of customer co-creation is the possibility

of alienating customers who-- by rejection their contributions.

One way to reduce this risk is to engage your broader community

to help evaluate and vote on these contributions.

So, for example, Dell sources customer co-creations

on its website platform called IdeaStorm in which

to improve its products and its offerings.

So, in this website,

Dell actually engages its customer community to evaluate

and vote on these ideas, thus Dell's customers

who have their ideas rejected feel it's other customers

who don't like their ideas rather than Dell itself.

This overview provided the foundations

of customer co-creations, the essentials,

what you need to know.

If you'd like to take a deeper dive,

please check the many links on our course website.

In particular, I'd like to focus or draw your attention

to two particular books.

First of all, Collaboration and Co-creation by my friend

and colleague Gaurav Bhalla.

This is a great book full of lots of practitioner examples

of how firms used co-creation

to enhance their business processes.

If you're looking for something a bit more academic in nature,

I'd like to recommend this book, Collaborating with Customers

to Innovate by two professors,

one from Northwestern University.

And this book provides more of an academic insight in terms

of the foundations and the concepts involved

in co-creation.

I'd also like to hear your thoughts.

If you're a firm, how can you engage in customer co-creation

to enhance your innovation activities?

If you're a consumer, do you do any of these things?

Do you give firms ideas?

If so, how?

And our discussion format--

our discussion forum on our course webpage,

you can provide your ideas.

I look forward to reading them.

Thank you.

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