A Guide to Effective Co-creation That Drives Innovation

Co-creation involves working with external audiences to ideate and develop new products or services, creating an environment for generating unusual ideas and approaches. However, it comes with challenges like lack of control, unclear processes, legal regulations, and fear of getting started. To make co-creation sustainable, organizations must evaluate third parties based on four criteria, define specific goals, and use dedicated innovation platforms to ensure transparency and scalability. The process includes setting open innovation goals, testing with safe audiences, identifying target audiences, and encouraging communication and feedback.