Companies have adopted and used social media channels for collaboration and engagement with potential customers, customer dialog management, and, creation of user communities for the customer support and co-creation. This study aims to expand understanding of social business processes for co-creation in the service industry. Findings from a case study showed that the banking and finance company in Norway manage to co-create value together with their users. Several new online products and services have been launched since the co-creation lab was launched. The banking and finance companies’ co-creation lab has a small, but stabile group of users. There are, however, findings that indicate that there could been achieved even more value in co-creation process through more and better interaction from the company’s side, as well as introducing an incentive arrangement for the users of the co-creation lab.

Fagerstrøm, A., Vatrapu, R., & Størksen, J. O. (2018, December). Co-creation of Value Using Social Media in the Service Industry: An Empirical Case Study of Service Innovation in a Banking and Finance Company. In 2018 IEEE International Conference on Industrial Engineering and Engineering Management (IEEM) (pp. 560-564). IEEE.