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WEBINAR:The New Rules of the Collaborative Economy#NewRulesOfSharing
Jeremiah OwyangFounder
Crowd Companies@jowyang
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Andrew ReidFounder and President,
Corporate InnovationVision Critical@reidandrew
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Tweet your questions@VisionCritical
#NewRulesofSharing
AgendaUnderstanding disruption“Who” is the Collaborative EconomyStrategy: Deep Customer UnderstandingTactic #1: Compete on PriceTactic #2: Compete on ConvenienceTactic #3: Compete on BrandQ&A
The CollaborativeEconomy Honeycomb 2.0Download here: http://bit.ly/1ywL8XV
We found significantly different rates of participation and growth in the 13 categories of sharing we studied.
We asked: In the past 12 months, have you ever used a website or mobile app for a sharing service?
More than six in 10 Americans will use a sharing service in the coming year
We asked: In the past 12 months, have you ever used a website or mobile app for a sharing service?
Factors that influence the decision to choose sharing over buying
We asked: You said you would prefer to share [buy]. What would make you consider buying [sharing] instead?
CUSTOMERSARE DRIVINGTHE CHANGE
Today’s businesses urgently need to know what makes customers
choose sharingover buying
STRATEGY:Understand your customers on a deeper level.
The competitive advantage of customer intelligence
Anticipate and resolve customer issues
Boost brand affinity
Increase customer growth and loyalty
Navigating the risks of the collaborative economy1. Compete on price2. Compete on convenience3. Compete on brand
Tactic #1: Compete on price
Factors that influence the decision to choose sharing over buying
We asked: You said you would prefer to share [buy]. What would make you consider buying [sharing] instead?
More people will choose to buy if it means they can save 25 percent.
Respondents, by age, who would consider sharing instead of buying to get a 25% savings
GM: “Let’s Drive” NYC
IKEA: online marketplace for used furniture
Tactic #2: Compete on Convenience
The most popular reasons for using sharing services
We asked: In the past 12 months, have you ever used a website or mobile app for a sharing service?
REASON FOR SHARING
People are more likely to switch to sharing if it’s more convenient
Hyatt: Onefinestay
Target: Instacart
Tactic #3: Compete on brand
People are more likely to switch to sharing for a known brand
Top sharing brands
Service used in your latest sharing transaction
Brand recognition and sentiment
Hasbro and Indiegogo
Taco Bell and DoorDash
In-N-Out vs. DoorDash
Four big questionsfor big brands:1. Are you willing to give credibility to a new player? 2. Can your product or service endure third-party handling? 3. Can your potential partner deliver a service consistent with the
quality your business delivers?4. Does the sharing service live up to customer experience
expectations you’ve architected?
Sharing is here to stayIf you’ve been waiting for sharers
to get disaffected by the collaborative economy, and come flooding back to their traditional buying habits, you’ll be waiting
a long time. Sharing is here to stay.
The world’s most successful companies useVision Critical to win in the collaborative economy.
Discover how: Visit the PLATFORM page on
visioncritical.com
© Aurora Health Care | 40
Watch a four-minute demo to learn how the Vision Critical platform can help you connect with customers and elevate your brand.
Watch the on-demand webinar
Download the full report