According to the author of this blog, new social communication channels will not only lead to changes in the ways companies market products, but they will also lead to changes in the strategies and operations companies use to develop products – including less privacy and more input from consumers.
I would advise caution to those companies excited about using social networks to gather consumer input to innovation. We’ve already tackled the question of customer-powered innovation – concluding that following innovation leads from mass-market customers results only in incremental improvements. Most customers simply don’t have the perspective to provide breakthrough ideas. Real breakthrough innovation comes from involving specialist users.
The rise of social networking technology offers a tantalizing promise of easy and quick incorporation of consumer feedback and input into the innovation cycle. And the engagement benefits of doing so, while hard to quantify, are also hard to dismiss. But how helpful will their input really be to innovation – and could it even be misleading? MREB’s research on social media listening explains how using general social media data can undermine the generation of true insight – based on the inability of Research to identify who is contributing the data and whether what they say reflects their actions. This realization only increases the caution that companies should take when using social technologies for product innovation.
MREB members – learn how to engage lead customers for innovation and find passionate online communities whose feedback will be more useful for innovation and insight generation.

How big is your research department?

A recent HBR blog points out the 
Which generation has the most discretionary spending power, leads all generations in traditional media consumption and technology spending, stands at a population of roughly 76 million strong and will account for an unprecedentedly large community of people 65+ in 2050? That would be the Baby Boomers, a unique mix of Alpha Boomers to Zoomers aged 47-65 who are simultaneously the most influenced—and influential—generation in recent American history. Once dubbed “The Me Generation,” Boomers today have morphed into the “The Everybody Else” generation, raising young kids, funding college, nurturing grandkids, and helping aging parents. To keep it covered, Boomers are still “workin’ it” by scaling careers, planning semi-retirement, and launching small businesses of their own, coming into their second act with no intention of fading away. As lifelong doers, do-gooders, learners and buyers, they’re worth getting to know again as aging adults who will re-invent themselves and every category in the process.

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