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Some innovative companies have developed models where value can be co-created by involving customers. FedEx for example pioneered the concept of customers checking the status of their packages themselves instead of via any company rep. This led to the involvement and empowerment of the customer, while the company itself saved on staffing costs. Now in the platform based economy, the potential for this model has increased in application. Service providers such as Uber, Airbnb, Amazon, Facebook and LinkedIn are already following this model. New business innovations are allowing B2C, B2B and even C2C models flourish. For this co-innovation platforms have been set up as GE and Microsoft have already implemented. One such model is the Customer Value Foundation (CVF) which creates value by enabling collaboration between customers, employees and vendors. An upgrade on this is the Total CVF model where the entire value chain of the organization gets transformed to cater to increasing shareholder value.

Source:http://customerthink.com/the-value-co-creation-platform-welcome-to-the-platform-economy/

 

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