Case Study: Verizon's Idea Exchange Connects Product Teams With Consumers

Following on from the success of its peer-to-peer public online communities, Verizon's eCommerce and product strategy teams recognized that social technologies and co-creation opportunities were a match made in heaven. Verizon leveraged its existing partnership with Lithium Technologies to create and launch a dedicated ideation site called the Verizon Idea Exchange. Not yet a year old, the Idea Exchange has put Verizon's consumer product teams in direct contact with engaged customers, who willingly help the company identify and develop new product and feature ideas and aid in the prioritization of existing ideas for development and introduction. While the focus has been on consumer products and services up to now, Verizon has plans to open the Idea Exchange platform up to other non-consumer product teams and other customer-facing segments of the business to take further advantage of co-creation.