Co-creation is a trend that has been used in influencer marketing for many years. The co-creation trend describes influencers’ willingness to engage with companies to create products and services of mutual benefit.
As we’re reaching a new tipping point regarding product development and customer participation, I see a change in product development. More and more businesses realize that the influencer landscape is changing, and the next step for companies is asking for help from influencers when creating their products.
What is co-creation?
Co-creation is a process by which customers are involved in developing a product or service. The idea behind co-creation is that businesses can get closer to their customers. It’s a process in which customers, the brand, and the influencer collaborate to create a product that reflects the customers’ needs.
The idea of co-creation has been around for a long time. But it wasn’t until recently that it became so popular and widespread. Now, many companies are using co-creation as part of their marketing strategy to connect with customers and build stronger relationships with them.
How co-creation fits into the influencer marketing mix
Co-creation is a new way to think about influencer marketing. It’s about more than just getting influencers to use your product. It’s about getting them to be a part of its development. When you work with an influencer to co-create a product, they have input into the design and functionality of that product.
An example is when Michael Jordan partnered with Nike to create new shoes designed for playing basketball—and it was an immediate hit! The Jordan brand reached over $5 billion in annual revenue in 2021, and Michael Jordan made $150 million just from Nike last year.
Co-creating products with influencers can help you build relationships with them and gain deeper insight into your target audience’s thoughts about your brand or product.
Benefits of a Co-Creation to Influencers
For influencers, co-creation is a great way to build a relationship with your audience and generate revenue.
A co-created product can help you reach new customers, increase your brand awareness, and create an opportunity to connect with your community in an authentic way.
It also allows you to take advantage of the trust that your followers have in you. In fact, according to a recent survey, 80% of people who follow influencers on social media would like to see them partner with brands.
Benefits of a Co-Creation to Brands
Co-creating with influencers has many benefits for brands. First, it creates a product that the consumer genuinely desires. The brand and influencer work together to create a product that is relevant to the consumer and will sell better than if the brand had developed the product on its own.
Second, co-creating allows for more flexibility in marketing campaigns. By working with an influencer, brands can connect with their audience in ways they may not be able to do on their own. For example, if you’re a clothing company, you can use your influencer’s platform to reach out to new customers who may not have heard of your brand yet.
Third, co-creating gives consumers what they want: transparency from brands and products made just for them by someone they trust (the influencer). They feel connected with their favorite blogger or vlogger because they know that person has their best interests at heart when creating products for them instead of being influenced by what works best for the company itself.
Challenges of Co-Creation of a Product
One of the biggest challenges of Co-Creating a product with an influencer is ensuring that your product is a good fit for them. The best way to do this is to pay attention to what type of products they share on their social media channels, which may or may not align with your brand’s target audience.
Another challenge is getting buy-in from the influencer. They will represent your brand, so it’s important that they feel confident in what they’re doing and understand why you want them involved in creating a new product.
Top co-creation campaigns
Danielle Bernstein and Onia
Danielle Bernstein and swimsuit brand Onia have partnered on four collections, the latest of which sold $1 million worth of product in just three hours. The two are partnering again, this time for a licensing deal that will make Onia the official production partner for Bernstein’s Shop We Wore What.
Keith Haring, Andy Warhol, Jean-Michel Basquiat, and Uniqlo
The Japanese brand Uniqlo is launching a new collection with Keith Haring, Andy Warhol, and Jean-Michel Basquiat. Uniqlo has collaborated with the three artists to produce a line of T-shirts and accessories — including baseball caps, umbrellas, and tote bags — on its website and various stores today. The affordable collection boasts prints of some of the most iconic works from each artist.
Travis Scott and McDonald’s
A partnership between rapper Travis Scott and McDonald’s Corp. boosted the fast food giant’s sales in the U.S. following a slump during the coronavirus pandemic.
Data from McDonald’s Corp. showed sales at their U.S. restaurants rose by 4.6% during the campaign. The limited edition ‘Travis Scott Meal’ deal went on sale in participating McDonald’s restaurants in the U.S., and a merch line bearing the rapper’s name was launched to tie in with the partnership.
Arielle Charnas and Nordstrom
Influencer Arielle Charnas calls her new brand, SomethingNavy, launched exclusively with Nordstrom with apparel, jewelry, and accessories. The introduction of a stand-alone brand follows a collaboration with the retailer’s private label brand, Treasure & Bond, and Something Navy x Treasure & Bond.
Conclusion
As more brands realize the power of working with a digital influencer, the space becomes crowded. Ads featuring bloggers, Instagram models, YouTube personalities, and even celebrities are becoming more common.
Co-creation is one way for brands to create an authentic partnership with influencers. This type of collaboration promotes mutual respect on both sides of the marketing equation and helps to build stronger affinity between the brand and a trusted community.
