It’s been almost a year since I wrote Latin American Social Technographics® Revealed, which demonstrated this group of consumers’ voracious love of social media. In that report I highlighted how this high level of social engagement is not exclusive to just entertaining themselves or connecting with family and friends. In fact, it also extends to interacting with companies, with activities such as reading their blogs, following them on Twitter, or even watching a video they produced.
Given the ease with which companies can connect with online Latin Americans via social media, I’ve now published a new report entitled Take Advantage: Latin American Consumers Are Willing Co-Creators that examines whether companies can extend this interactive and social connection with consumers into the realm of co-creation in the social online world. My colleague Doug Williams, who focuses on co-creation processes for the consumer product strategy professional, defines “social co-creation” as the process of using social technologies as a vehicle to execute co-creation engagements.
To examine the viability of social co-creation in Latin America, we assessed the factors that we feel are crucial for a successful social co-creation engagement to occur. They are:
A high level of engagement with social media — especially at the Conversationalist and Critic levels.
A high degree of interaction with companies using social media tools.
An inherent willingness to co-create with companies.
A new business model is emerging, and it depends heavily on software development. Many companies are dropping many of the traditional barriers between product development and customers. Without investing in software development, these efforts, no matter how well-intentioned, will have a better chance of failing than succeeding.
The simplest term I can concoct for this business model is "the transparent company." There are other defining characteristics of this corporate strategy, such as confidence in the ability to execute, and a very different sort of relationship with customers. However, as companies have been decidedly opaque to their customers, any transparency is a striking detail in itself. Hence the term "transparent company."
Wave Hello To The Engineer Fixing Your Bug
Here's an example of what I mean. I don't have to be a customer of Atlassian to know what issues Atlassian's engineers will fix in the next release of their wiki product, Confluence. That information is publicly available at this link. Diving into an issue at random — I chose "Database deadlock during initialisation of plugins in sql server" because it sounded fairly dire — I can see which engineer is working on this issue, Don Willis. I can even see the daily activity stream for Don Willis as he works on this issue and other projects.
I'd like to invite you to participate in an exciting new forum for discussion: our community for Consumer Product Strategy professionals!
The community is a place for product strategists to exchange ideas, opinions, and real-world solutions with each other. Forrester analysts will also be part of the community, helping facilitate the discussions and sharing their views.
Right now, we already have discussions going on the topics of product co-creation, creating video content for your product or brand, and the effects disruptive technologies like the iPad have on product strategies. These vibrant conversations are just getting started, but they're already pretty exciting discussions.
In general, here's what you’ll find
A simple platform on which you can pose your questions and get advice from peers who face the same business challenges.
Insight from our analysts, who weigh in frequently on the issues.
Fresh perspective from peers, who share their real-world success stories and best practices.
Content on the latest technologies and trends affecting your business — from Forrester and other thought leaders
I encourage you to become part of the community:
Ask a question about a complex business problem.
Start a discussion on an emerging trend that’s having an impact on your work.
Contribute to an existing discussion thread from a community member.
Suggest topics for upcoming Forrester research reports.
Create a community profile.
Share your perspective with others.
The community is open to both Forrester clients AND to non-clients. Why not visit today?