Co-Creating Experiences to Grow Your Business

Co-Creating Experiences to Grow Your Business

Co-Creating Experiences to Grow Your Business
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Customer experiences can make or break a business. As our world changes and technology offers newer horizons to chase, how we do business should also change. This includes how we treat our customers and the experiences they associate with our brands. This week on our chat, we invited the founder of NOW Marketing Group and a huge advocate for relationship marketing, Jessika Phillips, to talk about co-creating experiences. Here’s a summary of our chat.
Guest: Jessika Phillips
Topic: Co-creating experiences to grow your business.
Format: Eight questions directed at the guest. Everyone’s welcome to share.
Q1: What is a co-created experience?
Co-created experiences are a way to integrate web3 into the regular customer experience process that we’re all familiar with. This means using technology such as AR/VR, NTFs, and even the metaverse when designing customer experiences. Watch our guest talk about this topic to learn more about what co-creating might mean for you.
I know it’s a lot – I explain more in the video lol https://t.co/7jKoVi7lNk
— Jessika Phillips #RelationshipMarketing #SMMW22 (@jessikaphillips) July 21, 2022
To explain this better, Jessika spoke about how we designed experiences in web1: it was all about consuming information. It was one-directional or read-only. Web2 introduced the concept of read and write—read someone’s post on social media, respond and react to that post, and even make your own post.
A1(2) The first online internet experience ie Web1 was read-only – we could only look up information. Web2.0 was read & write ie social media and online forums.  #TwitterSmarter https://t.co/QD93hlv3Xu pic.twitter.com/m96Gi9ZjHT
— Jessika Phillips #RelationshipMarketing #SMMW22 (@jessikaphillips) July 21, 2022
Web3 takes this even further. It’s about building out communities online where people can not only consume your content and interact with you as usual but also immerse themselves in your brand through modern communication channels.
A1(3) For Brands we must look at web3 aka the Metaverse as an opportunity to CoCreate with our community, teams, clients & fans. It’s about focusing on creating experiences with & for your community to build a sense of belonging & brand loyalty. #TwitterSmarter https://t.co/QD93hlv3Xu pic.twitter.com/Zzyc3R58k4
— Jessika Phillips #RelationshipMarketing #SMMW22 (@jessikaphillips) July 21, 2022
This co-creating mentality motivates your audience to continue supporting you. By offering them newer ways to engage with you online, you’re encouraging them to become fans and advocates for your brand.
A1(4) CoCreate focuses on creating experiences that turn your online community of followers into real fans. Your clients into advocates & in the know. Your team into evangelists & community into collaborators. #TwitterSmarter https://t.co/QD93hlv3Xu pic.twitter.com/ghABfxZrUZ
— Jessika Phillips #RelationshipMarketing #SMMW22 (@jessikaphillips) July 21, 2022
Q2: Why should businesses consider co-creating experiences online?
Co-created experiences are important because it’s a way of showing your audience that you care about them and what matters to them. In today’s business world, you’re competing against other brands to reinforce who cares most about your audience. The more you show you care, the more you’ll grow your audience organically.
A2(1) Brands who show up online must out-C.A.R.E. the competition in order to succeed. In order to Capture Attention, Articulate our message, grow Relationships & Exceptional Experiences we must meet our audience where they’re at. #TwitterSmarter https://t.co/gidln7HAwj pic.twitter.com/gD6CQkzi25
— Jessika Phillips #RelationshipMarketing #SMMW22 (@jessikaphillips) July 21, 2022
For example, brands that invest time and effort in building such immersive experiences gain 25% more loyalty than brands that don’t put in the effort.
A2(2) Studies show that brands that focus on building experiences gain 25% more brand loyalty than those that don’t. https://t.co/sCTHdbjQxU #TwitterSmarter https://t.co/gidln7HAwj pic.twitter.com/OZudQEWycj
— Jessika Phillips #RelationshipMarketing #SMMW22 (@jessikaphillips) July 21, 2022
According to our guest, the metaverse market could soon be worth $800 billion, and it’s just starting out. It can only go upward from here, which is why now’s the best time for a brand to put in the resources to create those experiences for their customers.
A2(3) The metaverse may be worth $800 billion by 2024 due to a surge in interest during the pandemic. That's up from $47 billion in 2020. ️ North America held the largest share of the worldwide metaverse market in 2020.   #TwitterSmarter https://t.co/gidln7HAwj pic.twitter.com/dsoO3ZXK8Y
— Jessika Phillips #RelationshipMarketing #SMMW22 (@jessikaphillips) July 21, 2022
We all know people like personalization in products and experiences they consume. In fact, 92% of people value customization in online avatars. Co-creating experiences like that is a good way to cater to what your customers want. Your audience may even be prepared to pay a premium for such customization.
A2(4) We as consumers value self-expression & #personalization . In fact, the most recent study found that 92% of people value customization in creating their virtual avatars. Like in real life & our clients are willing to spend $ to do so. #TwitterSmarter https://t.co/gidln7HAwj pic.twitter.com/KSpKeXjEfg
— Jessika Phillips #RelationshipMarketing #SMMW22 (@jessikaphillips) July 21, 2022
Q3: What types of businesses benefit from co-creating experiences for customers?
Any business can find value from co-creating experiences. Good experiences are one of the key factors people consider when they’re choosing a brand to work with. If you can give them the sort of experience that they cherish, not only will they come back to you, but they’ll bring their friends, too.
A3(1) I hate to sound vague but ALL businesses must focus on CoCreating to survive in Web3.0. Experience = the deciding factor if someone chooses to work w/ us! If they love working for/with us – we’ll be able to grow WORLD of Mouth Biz = loyalty &less Ad Spend. #TwitterSmarter https://t.co/koIcOMib19
— Jessika Phillips #RelationshipMarketing #SMMW22 (@jessikaphillips) July 21, 2022
As an example in the B2B market, Jessika told us about how sewer repair brand, Mr. Manhole, has created an online portal for their installers to engage with each other and be part of a community.
A3(2) An example of #B2B -We work w/ clients like @MrManhole who are building a #CoCreate portal & VR Game to engage, support and entertain their installers.  #TwitterSmarter https://t.co/koIcOMib19 pic.twitter.com/URJzaKqKfp
— Jessika Phillips #RelationshipMarketing #SMMW22 (@jessikaphillips) July 21, 2022
In the B2C market, community builders brand, CrossroadsNWOhio, has set up VR simulations so that potential customers can see what they’re building and what it’ll look like once development is over.
A3(3) An ex of B2C- we work with @CrossroadsNWO to build a VR simulation of the vision for their multiuse development to share with the community so they can imagine what’s to come & take a tour. They’ve used it to secure investments, support & overall awareness. #TwitterSmarter https://t.co/koIcOMib19
— Jessika Phillips #RelationshipMarketing #SMMW22 (@jessikaphillips) July 21, 2022
Even companies like Delta Airlines have co-created experiences for their employees’ training and team onboarding. Wendy’s has created Wendysverse where customers can share a virtual meal with a friend, shoot baconator hoops, and unlock coupons for their next Wendy’s trip.
A3(3) An ex of B2C- we work with @CrossroadsNWO to build a VR simulation of the vision for their multiuse development to share with the community so they can imagine what’s to come & take a tour. They’ve used it to secure investments, support & overall awareness. #TwitterSmarter https://t.co/koIcOMib19
— Jessika Phillips #RelationshipMarketing #SMMW22 (@jessikaphillips) July 21, 2022
Q4: Should you co-create experiences for employees?
Definitely. Great company culture starts from the inside. Think about ways to keep your teammates engaged with the brand, and then you can emulate that in the world.
A4 Absolutely! You should start from the inside > out of your business: meaning focus on your brand personality/passion 1st, then look at your team next & say how can we work together to build a culture of CARE where our team has buy-in on what and how we do it. #TwitterSmarter https://t.co/dfKtiRGGLS pic.twitter.com/YOu6O2Jllo
— Jessika Phillips #RelationshipMarketing #SMMW22 (@jessikaphillips) July 21, 2022
As Madalyn pointed out, co-created experiences for employees also help the team bond with each other. It fosters a community of friendship, collaboration, and cooperation between staff.
A4: Yes, you absolutely should co-create experiences for employees because it helps to nurture those relationships and foster a sense of community. #TwitterSmarter https://t.co/KMgyyJ4kgO
— Madalyn Sklar  Digital Marketing since 1996 (@MadalynSklar) July 21, 2022
Q5: When is the best time to start co-creating experiences?
Today is always the best time to start something that you know will benefit your business.
— Jessika Phillips #RelationshipMarketing #SMMW22 (@jessikaphillips) July 21, 2022
As Julia from NOW Marketing Group pointed out, it doesn’t take too long to get started—you can co-create experiences any day.
A5: Today! There’s no better time with so many features leaning more towards community and collaboration. Like, you can create SHARED content on #Instagram now. THAT is co-creation! ???? – JJS #TwitterSmarter https://t.co/qK9UadlJzB
— NOW Marketing Group #SMWL22 (@NOWMG) July 21, 2022
Q6: How do you get started with co-creating an experience?
As the word suggests, to co-create experiences, you need to collaborate with others in your network.
A6(1) Collaboration which I know you spoke about in your last chat but that’s the biggest part of #CoCreate – without relationships, none of the rest works. #TwitterSmarter https://t.co/J0ouwF2EZJ pic.twitter.com/PNzYmJVYBS
— Jessika Phillips #RelationshipMarketing #SMMW22 (@jessikaphillips) July 21, 2022
Start by getting involved in online spaces, whether it’s by networking with people who trade NFTs or joining in others’ metaverse experiences—show up and engage with people where they are. Then think about ways to bring your brand’s real-world experiences and products onto the online world. How you do this will differ based on your brand and what you offer, but virtual goods, VIP treatment, and gamification of activities are all ways to enhance someone’s online experience.
A6(2) Steps to get started:
1. Get Involved Natively
— Jessika Phillips #RelationshipMarketing #SMMW22 (@jessikaphillips) July 21, 2022
As our friends from Moxie Marketing Agency suggested, you can also have periodic meetings with employees and frequent customers to understand what they want in terms of an online experience.
A6: we have weekly creative collaboration sessions where we talk through strategies. #twittersmarter https://t.co/K5fBnVFszI
— Moxie Marketing Agency (@MoxieMrketing) July 21, 2022
Q7: How can you measure the ROI of a co-created experience?
Engagement is the most important metric when you’re measuring the ROI of anything. Co-created experiences are the same. Are people recognizing your brand (awareness), do they respond to and interact with you (engagement), are they sticking around for longer (low churn), and what kind of emotions do they exhibit (sentiment) about your brand? Ask all these questions when measuring the ROI of your co-created experiences.
A7(1) first – Engagement, Awareness, reduced churn, our customer/team sentiment as well. Overall we measure if people are growing w/ us or are we having a hard time keeping people? 
— Jessika Phillips #RelationshipMarketing #SMMW22 (@jessikaphillips) July 21, 2022
As our guest explained, when looking at ROI, it’s also crucial to understand the type of sales you’re generating from your co-created experiences. For example, if you have an engaged audience that continues to do business with you and support you, that’s a sign that there’s real depth in the value you create. On the other hand, if you find that a lot of your customers buy once and don’t really explore other offerings you have, it’s a sign that you’re going too broad, and not deep enough. Understanding this distinction will help you hone your strategy to focus on your long-term goals.
A7(2) Of course, #ROI should be impacted as well in a positive way. ???? I believe we will see many brands focusing on going deeper vs wider with customer sales. Ie a focus on more of an all-in repeat buyer vs. just churn-n-burn sales #TwitterSmarter https://t.co/1JWUIsjOvJ
— Jessika Phillips #RelationshipMarketing #SMMW22 (@jessikaphillips) July 21, 2022
Q8: Name some businesses that have done a good job of co-creating experiences.
Jessika’s vote went to Sugarwish, Agorapulse, Lego, and IKEA for exceptionally co-creating experiences with customers and employees.
A8(1) Besides the awesome companies I’ve mentioned already. We have to shout out @Sugarwishgirl @Agorapulse @LEGO_Group @IKEAUSA – these brands all focus on #CoCreation w/ their teams/customers. #TwitterSmarter https://t.co/Xw1ApUYGtf
— Jessika Phillips #RelationshipMarketing #SMMW22 (@jessikaphillips) July 21, 2022
And of course, there’s Madalyn and #TwitterSmarter. Our weekly Twitter chat is a good example of a co-created experience that involves people from multiple walks of life, focusing on providing each person with uniquely valuable experiences and relationships.
A8(2) YOU, Madalyn! ???? This #TwitterSmarter chat is #CoCreation at play and you host this every single week! ???? We're co-creating right now with each other and it's amazing to see how many relationships are built here each week. #TwitterSmarter https://t.co/Xw1ApUYGtf
— Jessika Phillips #RelationshipMarketing #SMMW22 (@jessikaphillips) July 21, 2022
Our guest also gave a shout-out to her team at NOW Marketing Group, and the incredible work they did in putting together their Social Media Marketing conference.
A8(3) Lastly, can I say us at @Nowmg !? Because I'm really proud of everything my team poured into #SMWL22 , the tenth year of our annual #SocialMediaMarketing conference! We had 20+ expert speakers and there was a TON of co-creation that took place! #TwitterSmarter https://t.co/Xw1ApUYGtf pic.twitter.com/RDsLdMu2uW
— Jessika Phillips #RelationshipMarketing #SMMW22 (@jessikaphillips) July 21, 2022
Well folks, that’s all from me this week. Thanks for reading through and for more great insights from our chat with Jessika, have a look at this Twitter Moment that Joana put together for us. If you think this summary is pretty good, you’ll love the real-time chat. Join us next Thursday at 1 pm ET for #TwitterSmarter. We also hang out on Twitter Spaces at 5 pm ET to continue our chat. Catch you there!
 
About me, Narmadhaa:
I write all the things—marketing stuff to pay the bills; haiku and short stories so I feel wholesome. A social media enthusiast, I hang out with the #TwitterSmarter chat crew, and am always happy to take on writing gigs.
Say hello: The Opinionated Copywriter | LinkedIn | Twitter
Hey, it's madalyn!
I help busy entrepreneurs transform their social media marketing so they can reap the rewards of a strong community and higher engagement.
I'd love to chat with you. Let's schedule a session.

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