Assess Your Co-Creation Readiness

Product strategy professionals increasingly recognize the value of social co-creation engagements to involve the customer directly in the product development process and how this fits into the broader context of open innovation. Empowered product strategists see how existing social media assets offer an opportunity to begin listening to and embracing their customers for this purpose. To turn social media assets into social co-creation assets, Forrester has developed a social co-creation adoption tool, which consists of three modules. First, use the social asset tracking scorecard to identify social media assets in use and score assets as they mature into co-creation tools. Second, calculate your social co-creation maturity index using our formula, and map your index to the social assets in use to identify next steps. Finally, refer to the social co-creation action plan to develop each individual social asset into social co-creation assets that can help your company develop better products with a greater chance of success in the marketplace. This report is an update to "How To Turn Social Media Assets Into Social Co-Creation Assets," originally published in December 2010, and provides product strategists with tools to assess their capabilities for leveraging existing social media assets for co-creation.