Involving consumers in the creation of products boosts branding
Implications - A step above crowdsourcing, consumer-controlled innovations allow customers to take part in the creation of actual products. This signifies a shift in the consumer-company dynamic, as it becomes clear the best way to ensure customer satisfaction, is to give the customer control of the brand.
Trend Themes
1. Consumer-controlled Innovation - Consumer-controlled products are quickly becoming the norm, as brands realize that customer involvement in the creation process leads to brand loyalty and greater customer satisfaction.
2. Crowdsourced Campaigns - Crowdsourced campaigns are increasing in popularity as they provide a unique opportunity for customers to engage with brands and have a say in the final outcome of a product.
3. Community-driven Innovation - Community-driven innovation, such as crowdsourcing, allows brands to foster deeper relationships with their customers through collaboration and co-creation.
Industry Implications
1. Marketing - Consumer-controlled, crowdsourced campaigns offer an excellent opportunity for marketers to engage with customers and build brand loyalty.
2. Product Design - Consumer-controlled product design provides a unique opportunity for product designers to create products that align with customer needs and wants.
3. Technology - Community-driven innovation can spark disruptive innovation opportunities in the technology industry, as customers offer unique insights into what they want and need in new products.
