Whether you are booking an Airbnb or a DogVacay, exchanging tips on Pinterest, getting a deal on Groupon or investing on Funding Circle – there is no doubt that ‘Collaborative Consumption’ has been ignited by these digital disruptors. As TechCrunch’s Tom Goodwin so accurately observed ‘Uber, the world’s largest taxi company owns no vehicles, Facebook the world’s most popular media owner creates no content, Alibaba, the most valuable retailer has no inventory and Airbnb the world’s largest accommodation provider owns no real estate – something interesting is happening.’ Indeed, it is.
Collaborative Consumption is set to grow to $335 billion in revenue by 2025, with the peer-to-peer rental market alone valued at $26 billion. Industry sectors that did not even exist a decade ago. These convenient solutions are well and truly woven into our social fabric. What lies behind their success? At first glance, they appear to generate high business turnover without any notable assets, provide unique range of products and services, use digital technology to engage their customers. Yet on closer inspection, there is something more intuitive and universal that they have managed to tap into, and that is connecting people who share common interests/purpose by creating a (digital) community.
Building communities is part of our DNA, but today we are more than hunters and gatherers. We seek to defy convention and search for uncharted ground, taking like-minded people on the journey with us. In order to resonate in this landscape, there are some guiding principles:
1. New Landscape = New Language
Communicate your values, aspirations, and interests to foster collaboration and harness connections. Ironically, this phenomenon is probably happening more and more today than prior to the digital era, as technology has become the gateway for virtual and live communities such as: Meet Ups, Mumsnet, Internations and many others.
2. Allow Easy Access
Ensure that your audience can access or purchase your product/service in a matter of a few clicks, as you run the risk of lost sales. A single second delay in your website loading time can result in a 7% loss in conversion, and 40% of web users will abandon a website if it takes longer than 3 seconds to load. This includes mobile-friendly solutions…
3. Tailor your proposition:
Get to know your audience, what makes them tick. Once you understand them, you can engage them through a personalised Customer Experience. Leading disruptive organisations such as Amazon, Uber, Netflix anticipate your needs, preferences and interests by getting to know ‘you’ through their platforms.
4. Act on Real-Time Feedback:
Don’t fear customer feedback, embrace it and respond swiftly. It is gold dust that is essential to growing your business. Use social media to keep your finger on the pulse, start or be part of the conversation and delight your customers. They will not only thank you for it, but likely become advocates, priceless for any brand.
5. Share the Benefits of Sharing:
By communicating the societal, environmental, economic, workforce benefits in the sharing eco-system, you start to foster brand trust & transparency.
The Challenge: To unite estate agents across Europe who were losing market share and reluctant to promote their proposition online, for fear of competition.
The Strategy: Developed an e-commerce proposition based on insight by international market, tiered commercial propositions that resulted into the journey from fragmented estate agents to an e-estate agent community.
The Impact: Launched number 1 online e-estate agency across Europe.
We collaborate with strategic leadership teams to design customer-centric story selling that: Get brands listed, Convert Browsers into Buyers, and Unlock Commercial Growth.
Trusted by some of the world’s most well-known & start-up brands and Omni-channel retailers such as: Coca-Cola, Bacardi, Starbucks, Britvic/PepsiCo, Kolibri, Tesco, Sainsbury’s, Waitrose, Morrisons, Ocado and other Fortune 500 companies in the UK & International markets.
Get in touch to see how we can Get your Brands Listed and Convert Browsers into Buyers… Let’s Talk On: +44 (0) 1727 860841 Or You can email us at: firstname.lastname@example.org