Airbnb has recognised that today’s consumers are networked, active and informed and their expectations no longer fit into a traditional concept. Differentiation and opportunities for value creation are needed, but often are a constraining force for a traditional market concept. Globalisation and outsourcing are making it much harder for companies to differentiate and there is the constant risk of uniformity. This is where a personalized co-creation experience can help – in essence, the service or product can be fairly similar and uniform, however the co- creation experience cannot. It reflects how the individual chooses to interact with the experience environment that is on offer. Through co-creation, companies can access the depth of customer capabilities, knowledge and assets. And furthermore, revenues and profits are shared – together Airbnb and its “hosts” have built a company that was most recently valued at more than $25 billion, more than the value of Hyatt Hotels. The meaning of value and the process of value creation by a company is rapidly shifting from a company-centric view to empowerment of the consumer in what his personal experience should be. Value is shifting to experiences and this initiates a conversation between the consumer, the in-between communities and selling agents. It requires the next step in practising value creation – dialogue and transparency. Get the full story at eHotelier