Nowadays, the question is no longer whether digital development is worth it. One needs to take but one looks around to understand that this is a fact. However, the main point is how to make this digital development successful.
Research shows that only 5% of companies have achieved their digitalization goals or exceeded their expectations. But why is this number so low?
The Challenges of the Digital Era
The possibilities and tools at our disposal are limitless, making the digital market fertile soil for businesses to thrive. The only question remaining is how to achieve our goals. In the last decade, we’ve seen the rise of new concepts when it comes to teamwork and workflow organization. This tendency was strengthened by the COVID-19 pandemic, which forced many companies to find digital solutions to make remote cooperation work. Words like ‘agile’, ‘scrum’, ‘CRM’, and ‘Zoom’ are part of our everyday vocabulary.
TechVariable is not indifferent to these changes and tendencies: we live for innovation. Hence, we present a new approach to product development that has proven to be successful.
Digital Co-creation for Software Development and R&D
Traditionally, product development derives from the provider, i.e. the software development company. With this approach, all ideas and proposals come from the company, and feedback is received after the final product (or prototype) is delivered.
Digital co-creation brings a shift in this concept. Now, the product’s value is not defined by the company only, but through cooperation between different parties. Thus, from the very beginning, the creative process is carried along by the company, employees, and customers, providing immediate feedback as the product develops. Naturally, whoever is going to be involved (other providers, employees, partners, customers) will depend on each case.
To sum up, feedback and ideas become the center of product development and not the final stage of the process.
Advantages of Digital Co-creation
- Variety
A team that’s been working together for a long time may lack fresh ideas. With time, people get used to a certain working dynamic. Co-creation brings a solution to this, as it involves new thinking. Feedback and insights from clients, for instance, can help create a more attractive product.
- New Experiences
Similarly, new minds bring new experiences to the table. Modern software and SaaS are based on user experience. Therefore, having different points of view working towards the same goal can be beneficial.
- Improved Products
The boom of social media has empowered customers. Only a few bad reviews can make the visitor skip you and jump to the next best offer. In this context, constant feedback from people not related to the company is vital. By engaging potential users and customers in your product development you’ll be building on solid ground.
- Cost-effectiveness
51% of companies state that digital co-creation has brought a positive impact. Financial performance is usually improved thanks to this approach. Co-creation has proven to decrease the customer churn rate while reducing marketing and R&D costs.
How Digital Co-creation Can Help Your Company
At TechVariable we believe in innovative solutions. The digital era calls for creativity, iteration, and disruptive methodologies. In this regard, digital co-creation is a part of our ecosystem to remain faithful to our goal: providing valuable and profitable digital products.
