We have a passion for working with our clients to help them engage with with their audiences to provide meaningful and measurable outcomes.That is the basis for our Mantra: Engagement for Outcomes.Provide a relevant story here based on what you know about the customer you’re meeting with and their audience(s).
We have threeuniques that enable our Mantra. If you only remember three things about Magnet 360, remember these three things:We help our clients with Marketing Strategy for B2B and B2C EngagementThrough our Deep Technical Expertise, we map that Strategy to the salesforce.com platform Last, we Drive Competitive Advantage for our Clients Through Iterative DeliveryAny ONE of these items in itself is not unique. But the combination of the three sets us apart in the marketplace. (Can you think of anyone that can do these three things? - OR - I can’t think of anyone else that can do these three things.)I’m going to spend a few moments giving you a high-level overview of our 3 uniques.
Our last unique focuses on helping our clients gain competitive advantage and value as fast as possible.One of the great benefits of the Salesforce platform is it allows us to do things quickly. SHORT STORY: Our unique of “Iterative Process for Business Value” means we can work in short sprints/iterations to drive significant value in each iteration.Unlike an Accenture that can’t get started without of truck load of consultants, we have a lean team that quickly can drive great value to the business.Our promises:Magnet 360 leverages Native Functionality wherever possibleBecause the platform is in the cloud it allows us to get value fastThese two facts lead to a lower risk of entryDETAILED VERSION: Today we are in the discovery phase of our process, learning about your goals, giving an overview of our capabilities, and determining if there is an opportunity to engage.Based on that opportunity we would create a statement of work that usually outlines: Objectives, Process, Timeline, Resources and Budget. The type of opportunity depends on how much work you have done. We work with clients on helping them with a roadmap or reviewing requirements. Based on what we heard today, I could see us engaging in a _____________ in either Relationship Management, Branded Sites, apps or Communities, Marketing Automation, or Social Campaign Management. Based on our collaboration step, we would prioritize value and then start to iterate. We would implement, learn and evolve. These iterations typically work in two week increments.
Sharing “who we are” is more than giving you a bulleted list of “what we do”. What you see here represents the people of Magnet 360, who deliver every day on our promises, put our clients front and center, and keep our culture strong. We have ____ employees, with offices in Minneapolis and New York. We’ve recently been named Minnesota’s fastest-growing business, and will soon be opening offices in several more markets, including Chicago, San Francisco….etc.We have a Rockin culture, committed to fostering entrepreneurship in Minnesota (MN Cup), giving back to local charities (CFC), and being a best place to work (BPTW, Magnetics).For me….(this is what it means to be part of the team) <MAKE IT YOUR OWN>
We’ve all heard how the collaborative economy startups and people are succeeding in the sharing economy.But we posed a question: What role do large companies play if their relationship has been disrupted?After interviewing experts corporations and startups that are here todayIn fact for those of you are here,the report is on your chair, or those following online can find it from my Twitter profileI’m excited to share with you today, we found a way for eeryone to win together:“An economic model of shared ownesrhip and access beteen corps, startups, and people”The Collaborative Economy
But we found out in this research was intriguing, that in order for companies to be succeed in the collaborative economy,They actually had to let go ,in order to gain more.
Sharing is not new, parents have taught us how.
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?
To get to the bottom of this, In our interviews, we asked just that.we found that there were over 13 individual elements which are easily grouped into three major factors.
People are more social –whther they’re saddled by debt, a younger generation, or just realizing that owning products isn’t as efficient.As a result, there’s a movement towards conscious consumers to get what they need beyond owning it.It means that: Access is more important than ownership>Photo credit required to: Thomas La MelaShutterstock.com
In my life, population start at about 4billion, and when Im’ an old man, it’ll be around 9 billionAs population doubles in my life, earth’s resources stay fixed. It means every pound, euro or dollar counts.SO when people DO buy, they want it to count. They want this product to sustain. It means that:” it pays to buy quality, esp when we can re-use or resell to others”Source is UN: world-crises.net
Lastly, we’ve found that technology enablement has spurred this movement on, with mobile devices, smart phones, payment systems and also social media.We looked closely at 30 of the top discussed sharing startups and found that 54% of them had facebook connect, and 74% had social profiles and reputation features, showing how closely tied to the social networking movement.It means this movement is bolstered by the technology and social media –which is growing faster than ever.
The startups aren’t going awayOut of 200 they’ve been funded 200b --not to mention the 60m from LyftIt means on average, those you were funded received 28mIn culmination of these societal, economic and technology drivers that this young movement isn’t going to dissipate soon, and in fact will only pick up in momentumData: Altimeter Data
So how do we deal with a revolution that’s REDUCING REVENUES and IS PICKING UP IN MOMENTUMRemember Frederick? He had a choice: Either fight the revolution with his guards, or collaborate with the revolutionaries on his own terms.He chose to leave his gilded gates, and offered to work with them to build a people’s government, and draft up a new constitution.
Now back to our revolution, the sharing revolution.What can companies do when they’ve lost power to the crowd?The good news is, there’s a solution…
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
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.
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/
While we’ve seen examples of software companies allowing for developers to build on top of their platforms, we can also examine this physical bike that was built from an open communityThis bike the Chrisitana bike was designed by crowd efforts in Freetown, Copenhagen, an anarchist community that set their own rules who didn’t allow cars, so they built their own product, this transport bike that’s now sold around the world.This example illustrates how a crowd was able to come together for a single problem to solve and take a product to market around a common brand, their anarchist city, Christiana.http://www.christianiabikes.com/english/uk_main.htm
To complete this cycle, those newly created crowd products flow back into the process, starting over again.This means that the startups who participate in this, will have an advantage over those that don’t.Savvy companies will do one.But superior companies will do all.
You must let go of your company to gain the market
So what are the benefits?
So what happened to fred who met the revolutionaries at the gate?Fred is a hero, he saved bloodshed, gave them people what they wanted –yet stayed in the palaceI’m pleased to share, that his lineage is the second oldest monarchy in the worldNot only is denmark the second happiest country in the world, He’s revered as a national icon, and his family is taken care of by the nation, and they’re still in the palace. Fred let go of his throne -- to gain the kingdomAnd if you want to collaborate in the economy. , then you must….
You must let go of your company to gain the market
Company as a Service Insights
• Companies must offer goods products
• Rather than sell a product once –sell it
• To do this, focus on rental, subscriptions,
Motivate a Marketplace Insights
• Companies must enable customers to
resell, swap, gift –not hamper it.
• Foster a new experience: peer to peer
• Extract value from these new
relationships, value added services, or
take a cut from transactions.
The Crowd Built a Car: Design,
Funding, Production, Assembly,
Wikispeed project enabled the crowd to build a 100mpg car
Provide a Platform Insights
• Reduce your operating expenses and risk
as the crowd gets involved –and
generates new value
• The highest form of loyalty is co-
ownership, as they champion your brand
• As the crowd becomes the
company, could the evolution of a
corporation just retain an ecommerce
system and a logo?
Opposing Market Forces Abound
1. Governments, lobbyists,
and institutions oppose
2. Buyers and sellers lack
3. Fragmented startups in
4. Uncertainty about which
startups will stand the test
What are your benefits for
letting go to the
More efficient, as the crowd helps
2 A long-term relationship with
your vested customers
New value created between
people, means new revenues
4 If you act now, you will have first
Partner and Industry Analyst
Collaborative Economy Glossary
Collaborative Economy (Model): An
Economic model where ownership and access is
shared between people, startups, and corporations.
Two sided Marketplace (Category): An
online website where buyers and sellers of goods or
services are sharing inventory, need, and transacting.
Example: Ebay, Craigslist, AirBnb, 99 dresses.
Transactions (Verbs): There are many types of
verbs that can be used in facilitation including:
Buy, Sell, Swap, Lend, Gift, Co-own, co-fund , buy and
Maker Movement (Trend): An emerging trend
where customers can self-design, create, produce, and
distribute products and goods on their own.
Company as a Service (Strategy): Rather
than sell goods in the traditional sense, offer products
or services to customers on- demand or through a
subscription model. Rent, Subscribe, or Gift.
Motivate a Marketplace (Strategy): A
community around a brand enabling customers and
partners to resell or co-purchase products, swap goods
related to the brand, or even enable lending or gifting
for no monetary exchange.
Provide a Platform (Strategy): Corporations
that enable an ecosystem customers to build products
and new services as partners — not just consumers.
Online Reputation (Feature): Any number of
online features that store historical and current
information about social profiles, individuals network
connections, credibility, or reviews of previous and
Social Sign On (Feature): A technology feature
that connects websites with profile systems from social
networks like Facebook, LinkedIn or Twitter connect
enabling existing reputation, social contacts, and social
Credits: Research Interviews
Airbnb, Molly Turner, Public
Arbor Advisors, Dean Callas,
Ariba, An SAP Company,
Joseph Fox, VP of Strategy
August Capital, David Hornik,
Bazaarvoice, Stephen Collins,
carpooling .com, Markus
Cisco, Carlos Dominguez, SVP,
Office of the COB and CEO
ConnectMe 360, Brian
Decide.com, Shauna Causey,
Enterprise Holdings, Ryan
WeCar AVPeToro, Yoni Assia,
CEO and Founder
eToro, Nadav Avidan, PR and
eToro, Adi Yagil, Head of Social
Gazelle, Israel Ganot, CEO
HomeExchange, Ed Kushins,
Jive Software, Christopher
Morace, Chief Strategy Officer
LiquidSpace, Mark Gilbreath,
Lithium, Rob Tarkoff, President
Lyft, Kristin Sverchek, General
MuckerLab, William Hsu, Co-
Sasson Capital, Vivian Wang,
oDesk, Gary Swart, CEO
oDesk, Shoshana Deutschkron,
OuiShare, Antonin Léonard,
Oversee.net, Gene Chuang,
PivotDesk, Alex Newman,
Sass.me and Oversee.net, Min
Chan, GM of Mobile
SCOTTEVEST, Scott Jordan, CEO
Shareable Magazine, Neal
Shasta Ventures, Rob
Coneybeer, Managing Director
Collaborative Lab, April Rinne,
Chief Strategy Officer
Collaborative Lab, Lauren
Anderson, Chief Knowledge
The Mesh, Lisa Gansky, Author,
The Mesh: Why the Future of
Business is Sharing
Zuora, Tien Tzuo, CEO
Zuora, Brian Bell, CMO
Deborah Schultz, Innovation
The following people provided guidance, reviewed content, tested ideas, or most
importantly, challenged the thesis during the project:
David Armano, David Berkowitz, Richard Binhammer, Mel Blake, Erik Boles, Michael Brito,
Noelle Chun, Steve Farnsworth, Lyle Fong, Ian Greenleigh, Shel Holtz, Noah Karesh, Kevin
Kelley, Matt Krebsbach, Wendy Lea, Evelyn Lee, Geoff Livingston, Jacob Miller, Marcus
Nelson, Ben Parr, Jeff Richards, Andy Ruben, Jim Rudden, Ben Smith, Aaron Strout,
Carmen Taran, Rob Tarkoff, Ed Van Siclen, Mike Walsh, Sharon Weinbar, Adam Werbach,
Susan Williams, Vladimir Mirkovic, Anita Wong, and the entire Altimeter Group research and
We extend special appreciation to LeWeb founder Loic Le Meur who inspired Altimeter
Group to research this topic.
Credits: Research Input