What is the benefit of co-creation for the crowd?
What business is all about!
You need two hands to clap and indeed clap well you can when you hit your palms together to give that loud noise we like to hear when being encouraged by others.
Likewise business needs an encouragement from the crowd, a small boost of creativity and collaboration that benefits both the public and the small businesses. Forbes mentions that the average failure rate of startups is around 90% of all businesses fail within 3 years. Apart from some silly or even bizarre mistakes, the main reason for failing small businesses is that the crowd is not satisfied with what the businesses have to propose. It is the satisfaction of these mutual needs that carries the businesses through the years.
Getting to know about what exactly are those needs is a completely different topic, though. There is little way for the public to contribute directly to the product development processes in small businesses. However, collaboration with external stakeholders is an inevitable step that small businesses need to take in order to become a hero in their industries. Crowdholding is the first to deliver the means for collaboration between startups and the crowd. Read further about co-creation.
Tired of traditional marketing?
The modern world requires old marketing communication to step back and give way to creative marketing tactics. We are all talking about an innovative concept to directly involve customers and consumers in designing the product or service that would be provided to them. This is what we now call Co-creation - a word that has brought immense interest to those seeking new ways to bring their products and services to their customer’s domain.
This concept was generally born after the success that community-based service projects became success stories due to the involvement of all those who made up the big community. Professional marketers tried the same concept with their marketing strategies and saw that when their customers helped to co-create a product or service it became accepted and met the planned objectives at the end of the day.
Today companies have identified that to be in business and continue in the very competitive environment they need to think out of the box and traditional marketing initiatives need to be kept aside and implementing more innovative and aggressive strategies is the order of the day.
Co-creating to satisfy your needs
When customers and companies see the advantages that they would accrue in creating value through the process of co-creation of a product or service that the company is planning to sell. The crowd can purchase the co-created products as they satisfy their needs and would also be beneficial for the small business they helped grow.
When companies and customers or users sit down and try to build and co-create a brand that would be acceptable to the customer. Apart from, bringing profits to the company, it is would also deliver very positive social results.
Before planning to launch a startup whether it is company or product launch, customer inputs are imperative today because out there no quarter is given or taken and is so severe that it borders on nothing short of the cut-throat competition. The crowd can gain experience and also create products/service they need by co-creating with small businesses, getting rid of the necessity to bombard you with ads on every web page. Try co-creating with small businesses on Crowdholding.
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