I have a new article, "Let your customers in" published in Conspectus magazine. Here is an extract:
Customers never asked for the Sony Walkman. Nor did they express a desperate desire for fax machines, digital cameras, mobile phones or even the humble hoopla-hoop. So if customers are frankly so useless at suggesting innovative, breakthrough products and services, why are many firms now actively trying to access and harness their customers’ knowledge and competence? Why are they tearing down their borders to invite their customers to share in their innovation and learning processes?
In fact, there are several reasons. First, customers are more knowledgeable and organised. They have access to the information they need to make more informed choices, assess value on their own terms, influence the expectations of other customers, and can decide for themselves how they want to transact with firms. They are increasingly able to engage in an active and explicit dialogue with other customers and employees.
To read the full article, click here