Co-Creation as a Tool for In-House Lawyers
Overview
While Forbes featured co-creation as “the future for all of us” in 2014, numerous McKinsey studies and articles over about a decade have evidenced that co-creation allows businesses to achieve greater engagement among consumers, and higher growth.
So what is co-creation? Co-creation is a form of collaborative innovation: inviting users to generate ideas on new products or services and actively participate in their creation and development process. It goes much beyond listening to customers. Think social networks, crowdsourcing, influencers now driving billion-dollar markets in FMCG: the fact is that users are no longer passive and want to take an active role in the development of what they want to buy.
In short, according to Kelton's Partner, Research & Strategy, Amy Snow , “There is no better way to ensure customer relevance than to involve them in the process of developing solutions.”