Five reasons why co-creation is a future-proof concept

Friday, March 13, 202001:59 PM
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The housing market is developing well. Why still incorporate co-creation? Eltjo Bouwman is giving us five reasons why co-creation is future proof.

Five reasons why co-creation is a future-proof concept

At Blauwhoed, co-creation is key. Now that the housing market is developing well again, you may say that co-creation is no longer needed. After all, residences are easily sold anyhow. Blauwhoed doesn’t share that view. Eltjo Bouwman, managing director living, is giving us five reasons why co-creation should still be incorporated into the development process.

Co-creation has become an integral part of the development world. There are many different ways of co-creation. At the beginning of the development process. Or used as instrument to adjust an already completed design in such a way that it perfectly meets the needs of the future residents. Upon initiative of citizens (a good example of civic participation), the municipality or the developer and from short, successive digital polls to intensive and interactive meetings. Eltjo Bouwman explains why this development method is future proof.

1) Co-creation enables us to develop products for a niche target group

“When developing in co-creation, you get to meet your customers. At the beginning of the development process when you can still use the ideas and preferences they share. Rather than at the end, when the residences are already put up for sale. And what about the latent needs? The preferences the customers do not share, but that you discover while talking to them. Co-creation allows project developers to develop residences and buildings that are just slightly different and that meet the needs of a specific niche target group. Enhancing our added value as project developer. With respect to our Eden District project for example, we were able to develop a large variety of residences through a process of co-creation. With as many as 26 different residences, varying from two-storey apartments to gate houses and penthouses.”

2) Co-creation leads to residents feeling happy and engaged

“Co-creation does not only allow you as developer to engage with your customers. It also leads to customers interacting with each other! Resulting in a sense of solidarity and neighbourhood, even before the project has been completed. A strong basis for a pleasant neighbourhood with happy residents. It is great to see that sense of neighbourhood already developing during the co-creation sessions.”

3) Co-creation reduces the sales risk

“Co-creation enables you to create a more accurate sales forecast for your product. It allows you to better assess your sales market, because you are already talking with the people who will potentially buy your product. Enabling you to shorten the sales period and accelerate the development process. Blauwhoed experienced this in Paradijs in Arnhem. In this project 50% of the residences were sold to the people that participated in one or more of the co-creation workshops.”

4) Co-creation is fun

“It is fun to engage with customers. You can learn a lot from them. For example, customers can tell you how you can make them happy with even the simplest of things. Project development is about people and you get enthused and inspired by actually talking to these people. Something we experience time and again during our co-creation sessions. Our Harmonie co-creation workshops proved to be fun for residents as well. They appreciate the fact that they are being involved at the early stages of the development process.”

5) Co-creation enhances your success

“By incorporating co-creation into your development process, your projects become more successful. That is reflected in multiple factors. For example, your development costs are reduced. The costs of failure are less, because you need less time to develop a residence that perfectly meets the needs of the target group. Furthermore, you are able to complete a project more quickly, since the residences are put up for sale the moment you start developing them. If you incorporate co-creation in your development process, chances are that the people participating in the co-creation workshops will buy a significant part of the residences. Furthermore, by incorporating the latent needs, you will also target other interested parties. Hence, it allows you to develop residences that meet the needs of the market and achieve the best possible result.”