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Ideate, innovate! Co-creating with Social Customers
 

Ideate, innovate! Co-creating with Social Customers

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• Accelerate product and marketing innovation with customer-generated input. ...

• Accelerate product and marketing innovation with customer-generated input.
• Engage community leaders and superfans in the ideation process.
• Develop practical, actionable steps for capturing customer feedback and feeding it in to the innovation cycle.

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  • http://www.forrester.com/Groundswell/supporting/nationalinstruments.htmlhttp://groundswelldiscussion.com/groundswell/awards2010/detail.php?id=458
  • LabVIEW is our flagship software product, a graphical programming languageMore about implemented ideas: http://zone.ni.com/devzone/cda/tut/p/id/11543
  • LabVIEW is our flagship software product, a graphical programming languageMore about implemented ideas: http://zone.ni.com/devzone/cda/tut/p/id/11543

Ideate, innovate! Co-creating with Social Customers Ideate, innovate! Co-creating with Social Customers Presentation Transcript

  • Ideate, Innovate!Co-creating with
    Social Customers
    April 12, 2011
  • Today’s Speakers
    Doug Williams
    Rebecca Carroll
    Laura Feeney
    Paul Gilliham
    National Instruments
    @lfeeney
    Lithium
    @bladefrog
    Forrester Research, Inc.
    @DougWilliamsMHD
    Verizon
    @bcarroll7
    #lithcast
  • Lithium Webcast: Ideate, Innovate! Co-creating with Social Customers
    Doug Williams, Analyst
    April 12, 2011
  • Source: http://greatfinance.org/a-product-that-doesnt-sell/
    Image source: http://greatfinance.org/a-product-that-doesnt-sell/
  • Ideation kick-starts the innovation engine
    Image source: http://www.sport-touring.net/forums/index.php?topic=31725.0
  • Ideation is the critical first step in the new product development process
    Validation of Plan
    Validation of Idea
    Validation of Project
    Validation of Product
    Is this idea worth investing time and resources?
    Is this project worthy of substantial investment?
    Does the developed product deliver value and is the business plan solid?
    Is the product and business plan ready for commercialization?
    Source: Forrester Research
  • Why invest in the collection and validation of ideas?
    Identify the best ideas
    Engage directly with consumers or customers
    Clarify the idea
    Conduct research into markets, consumers and competitors
  • Make the ‘fuzzy front-end” of development less fuzzy
    Kill bad ideas early….
    …Which reduces wasted resources.
    Generate better ideas to begin with...
    …Which translates into more efficient allocation of resources.
  • Today, product strategists rely on internal resources for ideation
    The first step in the product development process is to gather ideas for new products or features. How does your team gather ideas for new products and services? (Select all that apply)
    Internal resource
    Traditional market research tool
    Co-creation tool
    Other/None of the above
    Source: Q1 2011 Consumer Product Strategy Panel Survey
    Base: 212 product strategy professionals
  • Social co-creation unlocks new opportunities to engage with consumers in product creation
  • What is co-creation?
    Forrester defines co-creation as:
    Social co-creationis the use of social media or other social technologies to enable co-creation.
    “The act of involving consumers directly, and in some cases repeatedly, in the product creation or innovation process.”
    Source: July 9, 2010, “Social Co-Creation” Forrester report
    Image source: http://www.12manage.com/methods_prahalad_co-creation.html
  • Today’s social technologies unveil product improvement opportunities
    Source: July 9, 2010, “Social Co-Creation” Forrester report
  • Co-creation delivers unique benefits
    Source: July 9, 2010, “Social Co-Creation” Forrester report
  • Nearly half of companies that use social media use it to influence product strategy…
    Do the product teams at your company use social media to engage directly with consumers in order to influence product design, product creation, and product strategy?
    Does your company engage with consumers (in any way) using social media?
    Base: 181 consumer product strategy professionals
    Base: 151 consumer product strategy professionals whose companies currently use social media
    Source: Q2 2010 Global Consumer Product Strategy Research Panel Online Survey
  • …But many focus on the low-hanging fruit
    Source: Q1 2011 Global Consumer Product Strategy Research Panel Online Survey
  • Ideation sites give product strategists access to customer-led innovation
  • Consumers want to be involved…
    • 61% of US online adults are willing co-creators
    • 56% of willing co-creators are agnostic about product, service and brand
    • 67% of willing co-creators are concerned about the time commitment
    • 63% of willing co-creators require some form of incentive
    Source: North American Technographics® Consumer Technology Online Benchmark Recontact Survey, Q2 2010 (US)
    Image source: http://www.clker.com/clipart-2839.html
  • …And they are interested in co-creation across diverse industries
    Please rate your level of interest in participating in co-creation efforts with respect to the following industries. (4 or 5 on a scale from 1 [strongly disagree] to 5 [strongly agree])
    Base: 2,432 US online consumers willing to participate in co-creation
    Source: North American Technographics® Consumer Technology Online Benchmark Recontact Survey, Q2 2010 (US)
  • How can an ideation site help your company succeed?
    Provide fuel for innovation
    Collect ideas that would otherwise be shared elsewhere
    Act as a validation tool
    Speed up the product development process
    Give consumers an opportunity to help their favorite brands
  • Thank you
    Doug Williams
    dwilliams@forrester.com
    @DougWilliamsMHD
    +1 781.631.2948
  • About your communities.
    #lithcast
  • CommunitySnapshot
    • Verizon’s Residential Community is 3 years old, 80K members
    • Ranked #1 Community in industry, 6th overall for consumers by ComBlu
    Source: State of Online Communities report, November 2010
  • Verizon Social EngagementA Sampling
  • NI Facts
    NI first launched forums around 1999
    LabVIEW Idea Exchange launched in July 2009
    More than 150,000 users
    Idea Facts:
    100 ideas submitted/mnth
    400 comments/mnth
    2000 votes/mnth
  • Recognition
    2008 Supporting Category Winner: Nerd Network: Building an Online Community for Developers
    2010 Embracing Category Winner: Embracing our Customers for Software Development
    #LithCast
  • Why ideation / co-creation?
    #lithcast
  • Idea Exchange: Open Innovation
  • Objectives
    • Identify new product and service enhancement opportunities
    • Facilitate customer-driven product/service enhancements or new products/services
    • Enhance Verizon brand as establishing innovative ways to engage with and serve customers
  • Objectives
  • What results have you seen?
    #lithcast
  • Results
    14 Ideas implemented in LabVIEW 2010
    NIWeek 2010 included a video of idea authors sharing their thoughts about their implemented ideas
    Feedback-Driven Improvements were part of the overall marketing message for the 2010 launch
    13 Ideas currently “In Beta”
  • Results
    • Number of ideas submitted: 1300+
    • Number of ideas in progress: 200
    • Number of ideas implemented: 16
    Since launch…
    • 107% growth in comments
    • 403% growth in votes
    • 555% growth in visitors
     
  • About Lithium
    The Lithium Social Customer Suite helps great companies turn social customer passion into marketing, product development, and customer service assets.
    The Lithium Social Customer Suite offers complete social monitoring, a comprehensive community platform, and actionable analytics across millions of blogs, forums, and social networking sites.
    For market leaders such as Best Buy, AT&T, Research In Motion Limited (RIM), Univision, and PayPal, Lithium is the leading provider of social customer solutions that deliver real business results.
    www.lithium.com.
    #lithcast
  • About Lithium
    DeepEngagement
    Social Science
    Social Success
    Rich data for analysis, benchmarking, and optimizing your social investments.
    Driving real business outcomes.
    Great experiences for your most passionate contributors—your superfans.
    www.lithium.com.
  • About Lithium
    Lithium is Number 1 in:
    Current offering
    Features
    Strategy
    Clients
    November 2010 “The Forrester Wave™: Community Platforms, Q4 2010”
    www.lithium.com.
  • Lithium Resources
    37
    Best Practice Ideation
    Gartner Magic Quadrant for Social CRM Q3 2011
    Forrester Wave for Community Platforms Q4 2010
    The Lithium Social Customer Suite
    Lithium Community Platforms
    Lithium Social Media Monitoring
    Lithium Customer Intelligence Center
    LevelUp for Facebook