Del Monte case study is an excellent example of co-creation of a new product with loyal customers. This approach can not only reduce time and cost involved in new product development, but can greatly minimize the risk of new product being a “flop” – because customers have “co-created” it and it will be popular even before it hits store shelves! Added bonus is buzz this approach creates in Social and Mainstream Media and the WOM publicity.
Any organization that is in the process of developing a new product or improving an existing one should consider leveraging Social Media for this. Please watch this video and leave your comment on what you think: