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August 10, 2010
Lenny Murphy shares an article from WARC reporting on a recent McKinsey report, and provides some commentary.
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Generally I only reference key paragraphs from content that catches my eye, but this morning WARC reports on a recent McKinsey study that deserves to be relayed in full. I’ll add my two cents afterwards. Here it is:
Co-creation, open innovation key for brands
Data sourced from McKinsey; additional content by Warc staff, 10 August 2010
Wow. Do you see why I posted the whole article? There was so much good stuff I just couldn’t pick one paragraph to reference!
I’ve written a lot about the emergence of a more integrated and holistic model for insight generation that leverages the best elements of social media and networking, social gaming, mobile convergence, brand engagement programs, and data mining. This article is further evidence that clients are demanding a new model based on integration, and a few firms are rising to the ocassion to try to meet the need.
What McKinsey references in their report is that MR clients recognize the need to engage with the whole consumer in order to maximize the potential of each relationship. They obviously are looking for partners that can help them achieve this vision. Several firms have made a start of developing offerings that address some of this demand and their growth has been proof of the concept.
The combination of client demand and demonstrated business success by innovative firms listening to the voice of our customers should be enough data for the remainder of the industry to begin engaging in this new paradigm. The question, who is going to lead, and who will follow?
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The views, opinions, data, and methodologies expressed above are those of the contributor(s) and do not necessarily reflect or represent the official policies, positions, or beliefs of Greenbook.
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