4.24.14
•Download as PPTX, PDF•
0 likes•463 views
by Jeremiah Owyang, Chief Catalyst and Founder, Crowd Companies From AirBnb, Etsy, TaskRabbit, to Lyft, the the sharing economy is on the rise. Your customers are sharing products using social media tools --rather than buying them --and that’s a disruption to you. Whether you’re a big company or small, nearly every vertical is being impacted by the sharing economy. So what do you do if customers don’t need corporations on an ongoing basis? Altimeter’s latest research will share how corporations can not just stay relevant, but lead the charge in their own community. This presentation will share three ways corporations must shift their business (and marketing) to adopt to the collaborative economy. In this presentation, you will find out: -What’s causing this sharing movement -Which verticals are being impacted the most -What are the driving forces --and opposing forces to sharing -What is the impact to corporations -What companies and marketers must do now to overcome this disruption.
Recommended
Recommended
More Related Content
What's hot
What's hot (20)
Similar to 4.24.14
Similar to 4.24.14 (20)
More from Social Media Today
More from Social Media Today (20)
Recently uploaded
Recently uploaded (7)
4.24.14
- 1. Welcome to The Collaborative Economy #SMTLive
- 3. #SMTLive Our Speakers Jeremiah Owyang is the Chief Catalyst and Founder of Crowd Companies, which focuses on how large companies tap the collaborative economy, maker movement, and customer collaboration. Prior, he was an industry analyst and Partner of Customer Strategy at Altimeter Group, an industry analyst firm based in Silicon Valley. He focuses on how disruptive Web technologies—such as social media, the collaborative economy, and interactive marketing—impact the relevance of corporations to customers today and in the future. He is well recognized by both the tech industry and the media for his grounded approach to deriving astute insights through rigorous research. His blog, “Web Strategy” is one of the premier blogs on how corporations connect with their customers using Web technologies. Jeremiah is frequently quoted in top-tier publications, such as The Wall Street Journal, The New York Times, and USA Today. Previously, Jeremiah worked at Forrester and at Hitachi, where he launched the company’s first social program. He was featured in the 2009 “Who’s Who” in the Silicon Valley Business Journal, and his Twitter feed was named one of the top feeds by Time in 2011. @jowyang Robin Carey founded Social Media Today LLC, a media company which brings together many of the world’s best thinkers about business and policy topics, in 2007. Prior to that, she ran her own media consulting company for 16 years, and worked with Time Inc, Newsweek, BusinessWeek and Ziff-Davis. She leads a team that curates web-based content about social media and other topics, speaks frequently about social media and business. @robincarey
- 4. Empowered People & Resilient Brands
- 5. The Collaborative Economy By Jeremiah Owyang April, 2014
- 7. @ V I S I O N C R I T I C A L @ J O W YA N G
- 8. Phases of Internet Sharing The Collaborative Economy 8 From Altimeter Research: The Collaborative Economy, 2013, Jeremiah Owyang
- 9. What role do corporations play if people don’t need them?
- 10. The Collaborative Economy An economic model where creation, ownership, and access are shared between people, and corporations. The Collaborative Economy
- 11. Is this a business disruption?
- 12. Sharing Is Not New
- 13. Lyft Need to travel… People Can Tap into Each Other 13
- 14. Lyft enables crowd to be transportation – avoiding taxis 14
- 16. AirBnb Need a place to stay… 16 People Can Tap into Each Other
- 17. AirBnb Enables Crowd to be a Hotel 17
- 18. Need to get funded... LendingClub People Can Tap into Each Other 18
- 19. LendingClub enables crowd to be a bank 19
- 20. oDesk Need staff… People Can Tap into Each Other 20
- 21. oDesk enables crowd to be a workforce 21
- 22. Feastly Need to dine… People Can Tap into Each Other 22
- 23. Feastly enables your neighbors kitchens to be a restaurant 23
- 24. Need a place for staff… LiquidSpace People Can Tap into Each Other 24
- 25. Liquidspace enables companies to rent from each other 25
- 26. Yerdle Need products and goods… People Can Tap into Each Other 26
- 27. Yerdle enables neighbors to gift goods - rather than buy 27
- 28. Need a Good? People Can Tap into Each Other 28 Make it
- 29. White House to host a Maker Faire 29
- 30. A properly shared car is $270,000 Lost Revenue Of auto sales (1 shared car = 9 cars at average of $30k each.) The Collaborative Economy 30
- 31. @ V I S I O N C R I T I C A L @ J O W YA N G
- 32. How can Companies achieve Resiliency?
- 33. • Collaborativ e Economy: Value Chain
- 35. Brand as a Service
- 36. Toyota as a Service
- 37. Home Depot as a Service
- 38. Razors as a Service
- 39. Beauty as a Service
- 41. Mobility as a Service
- 44. Patagonia enabling second market and altruism 44
- 45. 45
- 46. RETAILER B&Q PROVIDES COMMUNITY AND MARKETPLACE Enables neighbors to share ideas, goods, and community around their brand.
- 49. Collaboration
- 51. Co-Fund new products like Kickstarter 51
- 53. Co-Design products like Nike 53
- 56. Co-Production with 3D Printers
- 57. Co-Storage of Products with Lockitron 57
- 59. Barclays offers BarclayCard Ring, a credit card designed and built by community crowdsourcing. Card community members can propose ideas and vote for ways to make the card better meet their needs. The community collectively discusses ideas and evolves the card together. The Giveback program allows members to share in the profits of the credit card program.59
- 61. 1. People are empowered to get what they need from each other. 2. The crowd is becoming like a company – bypassing inefficient corporations. 3. Corporations must use these same tools and strategies to regain relevancy. 4. This requires business model change: product > service > marketplace > repeat. 5. The crowd will become the company, making corporations resilient. FIVE FINAL TAKEAWAYS
- 63. Crowd Companies Empowered People & Resilient Brands Jeremiah Owyang Chief Catalyst, Founder @jowyang Jeremiah@CrowdCompanies.com
- 64. Empowered People & Resilient Brands
- 65. #SMTLive Our Speakers Jeremiah Owyang is the Chief Catalyst and Founder of Crowd Companies, which focuses on how large companies tap the collaborative economy, maker movement, and customer collaboration. Prior, he was an industry analyst and Partner of Customer Strategy at Altimeter Group, an industry analyst firm based in Silicon Valley. He focuses on how disruptive Web technologies—such as social media, the collaborative economy, and interactive marketing—impact the relevance of corporations to customers today and in the future. He is well recognized by both the tech industry and the media for his grounded approach to deriving astute insights through rigorous research. His blog, “Web Strategy” is one of the premier blogs on how corporations connect with their customers using Web technologies. Jeremiah is frequently quoted in top-tier publications, such as The Wall Street Journal, The New York Times, and USA Today. Previously, Jeremiah worked at Forrester and at Hitachi, where he launched the company’s first social program. He was featured in the 2009 “Who’s Who” in the Silicon Valley Business Journal, and his Twitter feed was named one of the top feeds by Time in 2011. @jowyang Robin Carey founded Social Media Today LLC, a media company which brings together many of the world’s best thinkers about business and policy topics, in 2007. Prior to that, she ran her own media consulting company for 16 years, and worked with Time Inc, Newsweek, BusinessWeek and Ziff-Davis. She leads a team that curates web-based content about social media and other topics, speaks frequently about social media and business. @robincarey
- 66. Enjoyed the Webinar – Hear Jeremiah Speak at The Social Shake-Up
- 67. Upcoming Webinars April 29th Who is the Modern Customer? How Do They Want You to Talk to Them? #SMTLive
Editor's Notes
- http://www.marketingprofs.com/charts/2013/11340/digital-marketers-on-twitter-share-retweet?adref=nl080613Quote on lower person reading article.Social Media Today’s number’s are growing exponentially lately, which is great for Jive because as we develop new content we ccanWE are unique in our reach
- http://www.economist.com/printedition/covers/2013-03-07/na
- Sharing is not new, parents have taught us how.
- JKO to tell a story of how we’re going on a business trip.I’m taking a person’s car, instead of using a taxi corporationThis will be in first person narrative to connect with audience. (this is why person is same)
- We need a place to stay, I stay at Airbnb –rather than Marriott
- The business meetings went so well, I was able to get funding without the banks.But I use LendingClub to get money from peers –rather than using HSBC
- Rather than hire through traditional workforce solutionsI use odessk to find workers ready to go –rather than Manpower.
- Rather than hire through traditional workforce solutionsI use odessk to find workers ready to go –rather than Manpower.
- I find office space from other startups that have extra space –rather than work with a tranditional property manager.In these examples (and we have a bigger list), which span many industries and b2b and b2c, we can see how this movement impacted many parts of society.
- We need a place to stay, I stay at Airbnb –rather than Marriott
- We need a place to stay, I stay at Airbnb –rather than Marriott
- But what’s the impact?It’s quite severe. It means that customers can buy once –and share many times among each other –reducing the need to buy againHere’s some stats9 cars270kBut also loansInsuranceGasI’m sure some economists could show this could be over a million dollars of ecosystem impactThat’s just 1 carWhat about 100What about 100million?
- The key is to convert products into services, services into marketplaces, and marketplaces build productsThey start off simple, but as we progress around the value chain, the investment and risk increases, but as well as the potential payoff. Let me walk through each one in detail and show you how.
- First, let’s focus on products becoming services. We call this “Company as a service”Now that customers want access to products –and may not necessarily want to own them, it means that companiesMust change the relationship and offer it a new form through renting, subscribing or event lending –beyond just selling.
- For companies that have high durable goods, unattainable luxuries, idle invetories, or high consideration purhcaseds, allow them to now be a serviceFor example Toyota and BMW now rent cars from their dealership in SF bay area. To get ahead of changing consumer needs, Toyota and BMW are now services.Acknowledgment required by Shutterstock for the Toyota image: Kosarev Alexander - Shutterstock.com
- #collaboration #workspace #hotel #coworkingLinks:http://www.smartplanet.com/blog/design-architecture/how-marriott-is-designing-a-smarter-business-hotel/8828http://www.workspring.com/
- http://www.mu.peugeot.co.uk/discover-mu-by-peugeot/
- Next, let’s talk about shifting services to now becoming marketplaces.We call this ‘Motivating a marketplace”. The naming is specific, you can’t own the marketplace, you can’t manage it, you simply must help usher them along, in this use case, the goal is to get the people to do these actions among themselves.If your company offers services, like a hospitality company serves guests, then learn how to tap into the marketplaces that are already forming in the sharing economy.There’s a number of new activities that people can perform, including to resell, co-owning, swapping goods, lending to each other, or gifting.
- An example: Right now, people are bypassing hotels to stay at unique experiences using websites like Airbnb.Rather than stand by the wayside, we discovered a new market opportunity for Loic’s guest room to be certified as Marriott certified. A large brand brings TRUSTMarriot would then funnel trusted guests, perhaps from a loyalty program, and even offer maid, food, or concierge services.Everyone wins: Loic gets a trusted guest, the guest gets a local experience at a certified home, and Marriot gets a cut of the transactions –that they wouldn’t have missed out on completely.
- http://campaigns.ebay.com/patagonia/
- http://campaigns.ebay.com/patagonia/
- https://www.streetclub.co.uk Please get images that work here SHANNOL
- In this third phase. Companies who have marketplaces, must activate them to build their future products.We call this “provide a platform”And it means that companies must empower their crowds to build future products and services.This is the hardest level –but yields the most benefits.Lots of of “co” words that are part of the collaboration mindsetIt doesn’t exist, but we see parts of itWe see many startups already doing this:-Ideation sites like uservoice co-ideate new products-Kickstsarter co-funds new ideas-Quickly co-builds new productsBut imagine if this was extended to co distribution, co marketing, co selling, and even co revenue sharing?In this case, it may be Hard to tell the diference between employees and customers as new products are built from the crowd.But the costs of buidling are leveraged by the crowd, reducing the costs of the company In this radical state, the non essential parts of the company reduce, and perhaps the most important remaining parts are the brand, and perhaps an ecommerce engine.In this future state: “The CROWD BECOMES THE COMPANY.“
- Image from http://productnation.in/5-key-considerations-for-platform-approach/
- Links:https://www.niceridemn.org/about/
- In this third phase. Companies who have marketplaces, must activate them to build their future products.We call this “provide a platform”And it means that companies must empower their crowds to build future products and services.This is the hardest level –but yields the most benefits.Lots of of “co” words that are part of the collaboration mindsetIt doesn’t exist, but we see parts of itWe see many startups already doing this:-Ideation sites like uservoice co-ideate new products-Kickstsarter co-funds new ideas-Quickly co-builds new productsBut imagine if this was extended to co distribution, co marketing, co selling, and even co revenue sharing?In this case, it may be Hard to tell the diference between employees and customers as new products are built from the crowd.But the costs of buidling are leveraged by the crowd, reducing the costs of the company In this radical state, the non essential parts of the company reduce, and perhaps the most important remaining parts are the brand, and perhaps an ecommerce engine.In this future state: “The CROWD BECOMES THE COMPANY.“