Some of the UK’s biggest FMCG and grocery brands are working with innovative new technology company Bulbshare to co-develop product, service and pricing strategies in direct collaboration with their shoppers.
Bulbshare’s co-creation technology allows FMCG brands to connect directly to targeted customer communities in order to gain insight around price, value-perception and shopping decisions – developing strategies that are jointly formed between shopper and brand.
By connecting brands to private customer groups through a mobile app, Bulbshare aims to bridge the gap between consumer and brand – helping organisation to ‘co-create’ products, campaigns and pricing strategies that better reflect the wants and needs of their customers.
Bulbshare founder Matt Hay says the technology is already changing the way FMCG brands connect to their customers: “We think many brands are failing to connect authentically with their customers and we believe the best way of solving this is to start building strategy and products directly with consumers. Technology plays a key role in facilitating this process and we’re thrilled to be able to introduce the Bulbshare platform as a tool that will make this possible for global brands and organisations within the FMCG space.”
Bulbshare works by setting incentivised briefs and challenges to customer communities, who respond through the app in written or video form with insight, ideas and content. It has already been used to inform pricing strategies at a number of major FMCG firms, as well as working with a host of major global organisations such as eBay, Vodafone, BBC Three, Unilever and MTV.
In January 2018, the firm also published a white paper on the power of co-creation, containing research that revealed a major disparity between how well brands believe they connect to their customers and the reality of how those customers actually feel.