Can you co-create value with others? Given our incredibly agile and dynamic market, with ever increasing demands, constantly changing tastes, preferences, and behaviors, it’s acting on the belief that you cannot succeed in the future going at it alone. Before you answer, let me better explain the question. Co-creation means banding together with another organization or person to build something together that you could not have built alone.
For example, Hilton and Uber recently joined forces to co-create value in the hospitality industry. Hilton, recognizing Uber’s growing market reach, now encourages its customers to connect their Hilton Honors and Uber accounts. When you stay in a Hilton property, this makes it easier for Uber to know where you are, pick you up, and take you where you want to go.
Here’s how Hilton describes the new service: When a traveler's reservation reminder time approaches, the Uber app pre-sets the hotel as the recommended destination. Once in an Uber, the guest can tap the "view stay details" option in the Uber app, which then - via the HHonors integration - guides guests to the HHonors app to check-in, choose their room and request a Digital Key, all while on their way to the hotel.
Hilton understands there is an opportunity to create a better experience for its guests by incorporating Uber. Guest satisfaction is no longer limited to the experience inside the hotel property; it is deeply linked to the outcome that brought the guest to that hotel location.
“I’m in town to attend an NFL game” is a goal that extends beyond the boundaries of the hotel, and Hilton recognized that it’s in the interest of their guests to extend Hilton’s reach into the city itself.
By joining forces, the two companies are co-creating value when none previously existed. In other words, the space between a hotel and various events - or between the airport and the hotel - used to be a bit of an anonymous wasteland. But now it is becoming a seamless extension of both brands.
To get started, ask yourself this: with whom could we join forces to add value in a space in which no one has before added value?
When you do this, be prepared to give up a little bit of self-interest and control, to find the sweet spot in which both of your organizations will benefit.
By the way, the wrong way to look at the Hilton/Uber-type partnerships is as a marketing program. That’s aiming too low. The right way is as a substantive partnership that delivers measurable economic value to both your organizations and to your customers.