Over the last 18 months or so, we have been working with an innovative client who has looked to their customers to co-create their business model, products and loyalty strategy. It has been an exciting and thrilling journey in a typically conservative industry; financial services. In their case, an online, conversational community was an invaluable supplement to focus groups and market research. And the conversation has been extended to social media such as twitter and Facebook.
This experience has us thinking about the opportunities organisations (those not afraid of public dialogue with their customers) have to develop new products in concert with their customers. [Read more…]