Accessing the Social Value in Sustainable Product Development

image: product development life cycleResearch and business results demonstrate that social media success is no longer a defined by how well your company communicates its message to the external world.  It is rapidly becoming a critical business sustainability skill and a business sustainability catalyst that is affecting the bottom line.  

“Prepare by strengthening your network now. Become a partner of choice by communicating your commitment to win-win technology partnerships. Broadcast messages to prospective targets that demonstrate your alignment with their motivations and strategy.” –CEB Views

Our sustainability consulting follows this logic and takes a look at the now vital role of engagement in product development.  The Standard Business post, Co-creation: The future of Innovation, explores the value of business partnerships.  Stressing the need for engagement at every level of business sustainability decision making, the author presents some interesting value generating metrics from a recent study on social media engagement.

  • 44 percent of the over 9,000 participants indicated that they were interested in co-creating products and advertising
  • A similar proportion had conversed with a brand or interacted directly with a company in social media
  • 33 percent were fans of brands and were eager to share
  • 52 percent of all respondents were willing to give active product feedback

Beyond the tradition business value drivers of out-bound CSR communication or internal stakeholder engagement, today’s social media success stories focus on some lesser known but equally viable social avenues to value.  Our sustainability consulting offers information and tools to assess the market, the competition, and the social space around your business.  Visit with us at Taiga Company to learn more.

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