90% of new product launches fail due to “Internal Projection” the gap between boardroom excitement and customer reality. The problem? The “Passion is Not Proof” Trap Does this sound familiar? A passionate internal team advocates for a bold new concept, backed by their years of expertise and a handful of core assumptions. But when it …
Read MoreIt’s understood that an online community can help you better understand your customers. Through a variety of research methodologies available within a customer insights platform, you can facilitate an ongoing feedback loop with your target audience. What’s critical to note, though, is that your target audience can be any group – including employees. The benefits …
Read MoreThe prevailing “wisdom” for well over a hundred years is that the crowd is mad. However, more recently, author James Surowiecki countered with his book, The Wisdom of Crowds. So what is it, is the crowd wise or mad? Anyone who has tried to buy toilet paper in the last two weeks will come to …
Read MoreSeveral definitions of co-creation have previously been proposed. So, let’s begin instead with a basic definition of customer value: “Customer value is the satisfaction a consumer feels after making a purchase for goods or services relative to what she must give up to receive them.” From there, surveys show that customers most often value high-quality …
Read MoreProduct development is not a spectator sport: you must be in it to win it. Competition gets tougher with every passing year. Retail shelves are crowded. That is, whenever retail shelves are actually displaying merchandise, given the record number of store closures over the past couple of years. This year, at least 7,000 (and estimates …
Read More3 Benefits of Using Co-creation During Product Development Co-creation is starting to get the recognition that it’s due. Nearly 50 years ago, the mantra, “innovate or die” uttered by Jack V. Matson who authored a book carrying this title, became the battle cry of product developers. Today, innovating collaboratively with customers and other stakeholders have …
Read MoreBased on the theory that everything has been done by someone at least once before, it makes sense to learn by example. When you are tasked with doing something as important as building a market research plan which will inform both the product development and commercial strategies, you cannot afford to get it wrong. Revenues, …
Read MoreAlthough some organizations continue to debate the definition of “co-creation” and how wide the contributors’ circle should be, here at KL Communications, we have focused on deriving value from co-creation for our clients for over 20 years. Co-creation communities – establishing them, motivating them and harnessing them to achieve value creation – are part of …
Read MoreCustomer Service. Just consider this term for a moment. What experiences come to mind? Given that negative experiences are relayed nine times more often than positive ones, odds are that you immediately thought of some unsatisfactory encounter. A daunting statistic is that 90% of restaurants do not make it to their 2nd anniversary of opening …
Read MoreWe’ve heard it before. We’ve seen the reactions. It happens in some client meetings, particularly with newer marketers and start-up companies. After suggesting a co-creation project, the reactions range from eye-rolls to quizzical looks to “deer-in-headlights” blank stares. Based on what we learned through our years in market research, people often become overwhelmed by the …
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