the new rules of the collaborative economy

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.

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