Co-creation is defined as a business strategy focusing on customer experience and interactive relationships. It encourages active participation from the customer to produce mutual value, and allows brand fans to get more involved in core innovation and marketing processes.
While there are some similarities with crowdsourcing, co-creation is a much deeper social collaboration among a brand and its biggest fans. It typically happens inside an online community (not social media) where having access to each other is what really matters.
Related Read: What you need for successful customer co-creation
Customer co-creation can be used to help organizations further their innovation through new product development, or product improvements, and even have customers partner with marketing teams to co-create more authentic content and campaigns. It also involves having the appropriate platform and space to facilitate discussions, which can support design thinking, or run research activities to further test new products and marketing messaging.
Check out the infographic below to better understand why leading brands today are collaborating with their most passionate customers on the regular.