Co-create new business with your most valued B2B customers.
There is a common misconception that disruptive innovation tools, methodologies, and processes are most suited to the B2C world. In reality, they are perfectly suited to both B2B and B2C contexts. B2B co-creation is designed for decision makers and sales cycles while building strong customer relationships, reducing risk and increasing speed-to-market.
The key added-value during co-creation is to bring together R&D, sales and marketing teams and your clients to create real results with business impact. This format establishes a key broker network between business development cycles and sales to create new growth opportunities for both parties.
Of course client needs, problems, and challenges are the starting point for innovation when developing
intrapreneurial culture, talent, and mindsets for innovation throughout the program.
What to expect from our B2B co-creation program?
CO-DEVELOP NEW DISRUPTIVE BUSINESS
B2B co-creation programs are designed to manage risk and uncertainty when pursuing disruptive ideas for innovation in order to drive new business. Outcomes often result in highly-disruptive concepts with supporting business models. Develop a go-to-market plan by clearly articulating validated learnings and concrete next steps with the client. You will become a global champion to your clients by involving them early in the innovation process.
DRAMATICALLY SPEED-UP TIME TO MARKET
Co-create and co-develop by empathizing with partner needs and problems. Ideate, test prototypes/minimal viable products (MVP) to (in)validate critical assumptions and develop new business model prototypes. The B2B format solves problems that clients are ready to pay with budgets already assigned and allocated for the solution. By closely aligning your organisation with client needs, you to speed up time-to-market significantly, especially in traditionally slow-moving heavy industries.
MAKE SURE YOU BUILD THE RIGHT THINGS TOGETHER
By testing your new value proposition early on and iterating and pivoting where necessary based upon regular client feedback, you avoid the costly mistake of building the wrong thing when trying to solve critical needs and problems. On average, 65% of final innovation concepts have been further developed into a commercial agreement or a joint business venture with the customer partner immediately after the final executive panel team pitches. This metric is based on B2B co-creation programs run by Board of Innovation from 2016 to 2018.
SOLVE REAL CUSTOMER NEEDS
A B2B co-creation format can be initiated by sales, R&D, innovation or talent development. Your project teams are not running a theoretical innovation exercise, they are in fact solving real world customer problems that have a concrete bottom line. Think of it as a game of poker. As soon as you play for real money, your focus, drive, and participation dramatically sharpens and transforms; and this is exactly what we see in project teams of co-creation programs.
Understand how B2B co-creation programs can be set up.
Teams are typically set up in two ways, depending on how much time you can commit with your strategic B2B partner organization:
- Involve the partner customer in the multi-disciplinary project teams to co-create throughout the entire innovation process.
- Involve the partner customer at various points during the innovation process i.e. problem exploration interviewing, roundtable consulting panels, solution validation interviews and final pitching moments.
The key to B2B co-creation success is establishing small project teams of up to 7 members from diverse multi-disciplinary backgrounds, different business units, and positions in order to have many perspectives on the specific challenge.
Our tried and tested tools and methodologies will ensure teams are having fun while getting them out of their daily comfort zone, to where the magic happens in order to drive disruptive innovation outcomes. We encourage participants to openly voice their opinions, challenge the status quo, reflect on their cognitive biases, democratize participation and encourage everyone to offer their own unique perspectives.
What do B2B Co-creation programs look like?
Each B2B co-creation program needs to have a clearly defined joint vision covering the why and what questions with a clear supporting framework to manage expectations, intellectual property, NDA’s, exclusivity rights, etc.
A B2B co-creation program can be run in as little as a few days and also more long-term with a strategic partner customer, supplier or vendor over 3-4 months. Over this period, various customer touch points are set up to involve them throughout the innovation acceleration process.
Playbook & toolkit development.
Playbooks and toolboxes are a highly effective way to empower people in their day-to-day work after participating in a fast-paced co-creation innovation cycle with a partner company. It is easy to lose momentum when returning to the regular way of working, so it is vital to empower participants and organizations by offering a structured approach to innovation that can be initiated whenever newly motivated team members want. We tailor and customize our playbooks and toolkits to the specific needs of our clients so they can easily pick up where they left off. Playbooks often cover the following topics and feature all the tools of the program.
- Strategy tools: to help set strategies for innovation
- Empathy tools and techniques: to walk a mile in the shoes of your customers
- Ideation tools: to come up with better, more creative ideas more quickly
- Business modeling tools: to turn business ideas into potential market successes
- Step-by-step guides for each tool
- Facilitation tips for each tool
- Suggestions of agendas for different workshops
- Context: Why do we innovate? What’s the company’s specific stance on innovation?
- Behavioral tips: Get inside the minds of the greatest innovators
Let's get in touch!
Do you want more info about this service?
Fill in the form to have a chat with one of our experts.
Trusted by Fortune 500 and global innovators.
Board of Innovation makes Fortune 500 companies innovate like startups, mixing proven methods from design thinking and lean startup strategies.