Engaging in co-creation opens up a world of possibilities for companies, allowing them to tap into a seemingly endless well of innovative ideas and keep their finger on the pulse of what the market wants.
India-based beauty brand MyGlamm, has made its business to keep in constant contact with its consumer base, actively listening to their needs and concerns to inform its product development strategy.
The company’s ecosystem encompasses its brand and its content platform, PopXO, which has enabled it to nurture a community of millions of followers that shares product feedback via surveys, focus groups and through consumer data insights as well.
Last year, the brand released the Treat Love Care Foundation, the first product it has developed with the input of its consumers, who were consulted about every detail, down to the naming of the product.
“We have access to a lot of information and input from our users. We are very good at listening to that information, asking the right questions, creating unique and interesting formats by which we interact with our users. And based on all of this information and data, we're actually able to predict the products that our users really want,” said MyGlamm co-founder Priyanka Gill.
Taking a different, no less effective approach to co-creation is Nodspark, a Singapore-based firm specialising in nail wraps that has made co-creation and collaborations with other brands key to its growth strategy.
From cult streetwear brand Obey to entertainment stalwart Disney, the brand boasts a long list of high-profile partners that have helped the brand stay relevant and dynamic in a very niche market.
Furthermore, these well-placed brand collaborations have helped the company expand its brand awareness internationally.
“I think the core of collaborations is helping to open your brand up to a new customer base, customers that you're not usually exposed to. For example, when we collaborated with Obey, we were getting the street kind of crowd, very different to our usual office ladies consumer base,” said Eugenia Ye-Yeo, founder of Nodspark.
To find out more about MyGlamm, Nodspark and co-creation in the beauty industry, check out our video above.