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COLLABORATIVE ECONOMY
1. How have business models been disrupted?
2. What are the changes companies must make?
3. Which brands are leading with new business models?
QUESTIONS WE’LL ASK AND ANSWER
COLLABORATIVE ECONOMY
DISRUPTION HAS BEGUN
Do you remember when Social Media meant that sharing ideas disrupted the media and communications industry?
COLLABORATIVE ECONOMY
DISRUPTION CONTINUES
The next phase of sharing is taking place in the physical realm.People are sharing goods, services, time, space and money.
COLLABORATIVE ECONOMY
ECONOMIC UNCERTAINTY GIVES US PAUSE
Governments and businesses struggle to find a clear economic path, while people are learning to depend on each other to be self-sufficient.
COLLABORATIVE ECONOMY
TECHNOLOGY POWERS PEOPLE TO BE SELF-EMPOWERED
New startups are using powerful social data, mobile apps, and smart phones to enable people to connect to each other.
COLLABORATIVE ECONOMY
PEOPLE ARE BECOMING LIKE COMPANIES –BYPASSING TRADITIONAL CORPORATE MODELS
A COLLABORATIVE ECONOMY
Hotels
vs.
Taxis
vs.
Restaurants
vs.
COLLABORATIVE ECONOMY
EVEN “OCCUPY” HAS A BUSINESS MODEL
These new sharing startups enable people to get what they need from each other instead of from big corporations.
Source: Digital Trends
COLLABORATIVE ECONOMY
THE OLD WAY THE NEW WAY
1. Maximize profit
2. Global Marketplaces
3. Standardize Offerings
4. Slow delivery of goods
5. Consumerism
6. Passive customers
1. Purposeful brands
2. Local (and Global)
3. Personalize
4. On-demand
5. People make & share
6. Empowered people
COLLABORATIVE ECONOMY
Deloitte studies show that “Millennials” seek companies that have a purpose and social mission beyond just profit.
1) PEOPLE WANT A PURPOSE
They are about one-third of the American workforce. Boomers seek to retire soon.
They want companies with a purpose.
They seek sustainability.
COLLABORATIVE ECONOMY
Sharing startups, like Airbnb, Uber (funding over $260m by Google), Google Shopping Express and Postmates, deliver goods and services at the local level.
2) LOCAL MARKET DELIVERY TRUMPS GLOBAL
Uber moves idle goods at local levels to be delivered to others on demand.
Uber can start to compete with Amazon.
Local merchants and homes win.
COLLABORATIVE ECONOMY
People can now make and customize their own goods using Shapeways 3D-Printing service. CustomMade is a network of “Makers” that are ready to produce to scale.
3) PERSONALIZED GOODS AND SERVICES
More products will soon be customized to your needs and preferences, printed on demand.
Online marketplaces like Etsy and CustomMade scale.
One size no longer needs to fit all.
COLLABORATIVE ECONOMY
Location-based apps and mobile devices empower local delivery on-demand. Uber, Google, eBay, Walmart, PostMates, Instacart and Deliv power instant to hourly delivery.
4) ON-DEMAND MEANS THAT REAL TIME MATTERS
A battle over same day delivery is happening between Google, Walmart, eBay and others.
Amazon’s fulfillment centers must compete with local.
The crowd speeds delivery, enhancing service.
COLLABORATIVE ECONOMY
People are consuming less. Instead, they are using marketplaces to re-use and recycle. Those that can make, will build and share.
5) DON’T CALL THEM CONSUMERS. THEY MAKE AND SHARE.
People can now re-use goods using Nextdoor.com and Yerdle.com to gift to friends.
Techshop enables people to become Makers of their own products.
The crowd functions like a company.
COLLABORATIVE ECONOMY
The people have become like a company, getting what they need from each other and bypassing inefficient institutions.
6) THE CROWD IS EMPOWERED
Using social networks, they connect with each other instantly.
They are becoming like a powerful company.
The crowd functions like a company.
COLLABORATIVE ECONOMY
PURPOSEFUL BRANDS PROVIDE SHARED VALUE
Millennials (and beyond) want companies to have a purpose. Corporations must think more about community and environment.
COLLABORATIVE ECONOMY
GIVE PEOPLE PURPOSE
Toyota 100 Cars for Good Program – The program awards 100 vehicles to 100 deserving nonprofit organizations over the course of 100 days based on votes from the public.
COLLABORATIVE ECONOMY
MISSION-DRIVEN FUELS SOCIAL ADVOCACY
Pepsi Good is a community of people who have a purpose.
COLLABORATIVE ECONOMY
ENABLE THE CROWD TO CONTRIBUTEThe crowd chooses how funds are distributed to non-profits in this example of Barclays.
COLLABORATIVE ECONOMY
CROWD FUNDING MEANS SHARED RESULTS – THE HIGHEST STATE OF LOYALTYU-Notes are sold in increments of $100 over the Internet with an asset-backed feature and make quarterly payments (interest and principal).
COLLABORATIVE ECONOMY
RECYCLING HARNESSES NEW BRAND LOYALTY
H&M encourages recycling of old clothes to reduce the environmental impact of the fashion industry.
COLLABORATIVE ECONOMY
PRODUCTS FOR RENT – NOT JUST FOR SALE
People can rent cars from BMW with the DriveNow program, instead of buying a car.
COLLABORATIVE ECONOMY
EXPERIENCES ON-DEMAND FUEL NEW BUSINESS MODELSW Hotel and DesksNearMe partner for on-demand workspaces.
COLLABORATIVE ECONOMY
GENTLY WORN MARKETPLACES TAP MOVEMENT
Patagonia partners with eBay to encourage second-hand usage of goods – beyond selling new.
COLLABORATIVE ECONOMY
LOCATION-BASED TECHNOLOGY ENABLES SHARINGRelayRide enables people to share privately owned cars, using OnStar.
COLLABORATIVE ECONOMY
NBC SPONSORS GIFT ECONOMY
Yerdle.com is a place where thousands of people give and obtain things for free from neighbors – avoiding retailers.
COLLABORATIVE ECONOMY
REAL TIME DELIVERY FROM LOCAL MERCHANTS
Google Shopping Express provides local delivery from merchants, challenging Amazon. Rapid delivery, right to your home.
COLLABORATIVE ECONOMY
RETAILERS PARTNER WITH ETSY “MAKERS”
Etsy and West Elm have partnered to discover emerging artists.
COLLABORATIVE ECONOMY
MAKERS EXPAND PRODUCT EXPERIENCE
A community of Makers from CustomMade has partnered with Lincoln Motors to build matching jewelry for new car owners.
COLLABORATIVE ECONOMY
NIKE CO-OPS PRODUCT DESIGN WITH CROWD
Nike offers co-design products, allowing you to customize the shape, color, style, and fit, with thousands of options available, personalizing at scale.
COLLABORATIVE ECONOMY
BRANDS ENABLE 3D PRINTING FOR MASS PERSONALIZATIONNokia offers 3D files, enabling custom cases to be printed at Shapeways
COLLABORATIVE ECONOMY
THE OLD WAY THE NEW WAY
1. Maximize profit
2. Global Marketplaces
3. Standardize Offerings
4. Slow delivery of goods
5. Consumerism
6. Passive customers
1. Purposeful brands
2. Local (and Global)
3. Personalize
4. On demand
5. People share/make
6. Empowered people
ONCE AGAIN….
COLLABORATIVE ECONOMY
Companies that meet these new market needs, become
Resilient Brands
They are: innovative, agile, empowering, built to last, and profitable.
COLLABORATIVE ECONOMY
• The market seeks purposeful brands, local, personalized, on-demand models.
• The crowd is becoming like a company –bypassing inefficient corporations.
• Corporations must use these same strategies and tools to regain relevancy.
• To do this, companies must embrace a business model change.
• Corporations that partner with the empowered people become resilient.
FINAL TAKEAWAYS
COLLABORATIVE ECONOMY
Takeaway: Brands achieve Resiliency by collaborating with the empowered people for shared value.
COLLABORATIVE ECONOMY
Crowd CompaniesEmpowered People & Resilient Brands for Shared Value
Jeremiah OwyangChief Catalyst, Founder
@jowyangJeremiah@crowdcompanies.com
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