What If Customers and Companies Could Collaborate to Define New Business Models?
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The presentation given by Jeremiah Owyang, Chief Catalyst and Founder of Crowd Companies, at the Supply Chain Insights Global Summit in Scottsdale, AZ on September 11, 2014 What If Customers and Companies Could Collaborate to Define New Business Models? Mobile and social are converging and powering new opportunities with the collaborative economy. How are other companies redefining the channel using the concepts of the collaborative economy?
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What If Customers and Companies Could Collaborate to Define New Business Models?
- 1. What If Customers and Companies Could Collaborate to Define New Business Models? Supply Chain Global Summit By Jeremiah Owyang @jowyang Sept, 2014
- 2. Launched Dec 2013 CROWD COMPANIES MEMBERS (42) Also including: Clorox, MasterCard, Samsung, SAP, Toshiba, Sears, and Disney
- 4. The Collaborative Economy Phases of Internet Sharing 4 From Altimeter Research: The Collaborative Economy, 2013, Jeremiah Owyang
- 5. What role do corporations play if people get what they need from each other?
- 6. The Collaborative Economy An economic model where creation, ownership, and access are shared between people and corporations.
- 7. Is this a business disruption?
- 12. Yerdle enables neighbors to gift goods - rather than buy 12
- 13. Techshop empowers the Maker Movement –people build instead of buy 13
- 15. 15 Feastly connects passionate cooks and adventurous eaters for authentic and social dining in a cook’s home. Feastly launched in 54 hours over Washington D.C.’s Start Up Weekend in November 2011. It currently operates in New York, San Francisco and Washington D.C.
- 17. 17 Instacart taps the crowd for peer to peer delivery
- 18. oDesk enables crowd to be a workforce 18
- 20. 20 Uber enables P2P transportation – largest investor is Google $258m Google and Waze have already started to share data (May 2014), in addition, Google is rolling out retail delivery with Shopping Express, and also has self-driving cars.
- 22. 22 Airbnb offers person to person space sharing, for a local experience.
- 24. 24 Kickstarter enables P2P investing by the crowd
- 25. LendingClub enables crowd to be a bank 25
- 27. @V I S ION C R I T I C A L @JOWYA NG
- 28. The Collaborative Economy A properly shared car is $270,000 Lost Revenue Of auto sales (1 shared car = 9 cars at average of $30k each.) 28
- 29. Discussion: What’s causing this movement?
- 30. How can brands alter their business models and become resilient?
- 31. Collaborative Economy: Value Chain
- 32. Collaborative Economy: Value Chain
- 33. Brand as a Service
- 34. BMW and Toyota as a Service
- 35. Home Depot as a Service
- 36. Collaborative Economy: Value Chain
- 37. Collaborative Economy: Value Chain
- 38. 38 Walmart enables game exchange – reducing waste. Customer who bring in used video games can receive store credit, currently at Wal-Mart, and soon at Sam's Club.
- 39. Patagonia enables a marketplace for refashioning products. 39
- 40. 40 Gap partners with Divvy Bike Sharing for a shared workforce During the summer, people work at Divvy bike sharing, during winter, they’re auto-employed at Gap retail.
- 42. Collaborative Economy: Value Chain
- 43. Collaborative Economy: Value Chain
- 45. 45 U-Haul enables the crowd to fund truck, share in winnings and foster “Shared Destiny” Tap the crowd for better rates and terms that a company can set and achieve the highest form of loyalty: Shared Destiny.
- 46. GE Co-Develops with Quirky for sharing of ideas, supply chain, marketing, and revenues 46
- 47. Hasbro enablescustomers to 3D print products on demand via Shapeways 47
- 48. Walgreens Co-Delivers with Taskrabbit, extending brand promise 48
- 49. 49 Coke’s Wonolo shares with customers who become employees “Work Now, Locally” Retail customers can now stock shelves for Coke displays –and get paid while at it. Customers = Employees.
- 50. 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 50 credit card program.
- 51. Collaborative Economy: Value Chain
- 52. Collaborative Economy: Value Chain
- 53. Collaborative Economy: Value Chain B2P: Sell one good a thousand times; offer value added services. B+P: Tap crowd for innovation, with shared ideas, resources, and rewards P2P: Enable reselling of used goods and services, scaling new value.
- 54. FIVE FINAL TAKEAWAYS 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. As a result, companies are resilient: connected, empowering others, efficient, and profitable.
- 55. Welcome to the Collaborative Economy Crowd Companies Empowered People & Resilient Brands Jeremiah Owyang Founder @jowyang Jeremiah@CrowdCompanies.com
Editor's Notes
- http://www.economist.com/printedition/covers/2013-03-07/na
- #sharedfood #food https://www.eatfeastly.com/
- #productasaservice #carsharing #auto #city Links: http://europe.autonews.com/article/20130530/ANE/130529917/ford-joins-europe-car-sharing-sector-as-demand-surges#axzz2g2cML9TF *great article on a number of carshare companies in Europe http://www.mu.peugeot.co.uk/ http://wardsauto.com/ar/peugeot_mu_rental_091216 http://www.autoevolution.com/news/mu-by-peugeot-pilot-scheme-launched-in-the-uk-22107.html http://www.autoevolution.com/news/peugeot-introduces-mu-mobility-program-iphone-app-18438.html
- #productasaservice #carsharing #auto #city Links: http://europe.autonews.com/article/20130530/ANE/130529917/ford-joins-europe-car-sharing-sector-as-demand-surges#axzz2g2cML9TF *great article on a number of carshare companies in Europe http://www.mu.peugeot.co.uk/ http://wardsauto.com/ar/peugeot_mu_rental_091216 http://www.autoevolution.com/news/mu-by-peugeot-pilot-scheme-launched-in-the-uk-22107.html http://www.autoevolution.com/news/peugeot-introduces-mu-mobility-program-iphone-app-18438.html
- #productasaservice #carsharing #auto #city Links: http://europe.autonews.com/article/20130530/ANE/130529917/ford-joins-europe-car-sharing-sector-as-demand-surges#axzz2g2cML9TF *great article on a number of carshare companies in Europe http://www.mu.peugeot.co.uk/ http://wardsauto.com/ar/peugeot_mu_rental_091216 http://www.autoevolution.com/news/mu-by-peugeot-pilot-scheme-launched-in-the-uk-22107.html http://www.autoevolution.com/news/peugeot-introduces-mu-mobility-program-iphone-app-18438.html
- #productasaservice #carsharing #auto #city Links: http://europe.autonews.com/article/20130530/ANE/130529917/ford-joins-europe-car-sharing-sector-as-demand-surges#axzz2g2cML9TF *great article on a number of carshare companies in Europe http://www.mu.peugeot.co.uk/ http://wardsauto.com/ar/peugeot_mu_rental_091216 http://www.autoevolution.com/news/mu-by-peugeot-pilot-scheme-launched-in-the-uk-22107.html http://www.autoevolution.com/news/peugeot-introduces-mu-mobility-program-iphone-app-18438.html
- 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 again Here’s some stats 9 cars 270k But also loans Insurance Gas I’m sure some economists could show this could be over a million dollars of ecosystem impact That’s just 1 car What about 100 What about 100million?
- The key is to convert products into services, services into marketplaces, and marketplaces build products They 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 companies Must 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 service For 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
- 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 companies Must change the relationship and offer it a new form through renting, subscribing or event lending –beyond just selling.
- 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.
- #sharedfoodprep #food https://munchery.com/ http://www.geekwire.com/2014/meal-delivery-service-munchery-raises-20m-expands-seattle/
- http://campaigns.ebay.com/patagonia/
- #bikesharing#peertopeer #city #retail
- 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 TRUST Marriot 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.
- 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.
- 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 mindset It doesn’t exist, but we see parts of it We see many startups already doing this: -Ideation sites like uservoice co-ideate new products -Kickstsarter co-funds new ideas -Quickly co-builds new products But 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/
- #collaboration #workspace #hotel #coworking Links: http://www.smartplanet.com/blog/design-architecture/how-marriott-is-designing-a-smarter-business-hotel/8828 http://www.workspring.com/
- #sharedfoodprep #food https://munchery.com/ http://www.geekwire.com/2014/meal-delivery-service-munchery-raises-20m-expands-seattle/
- 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 mindset It doesn’t exist, but we see parts of it We see many startups already doing this: -Ideation sites like uservoice co-ideate new products -Kickstsarter co-funds new ideas -Quickly co-builds new products But 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.“
- 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 mindset It doesn’t exist, but we see parts of it We see many startups already doing this: -Ideation sites like uservoice co-ideate new products -Kickstsarter co-funds new ideas -Quickly co-builds new products But 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.“
- 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 mindset It doesn’t exist, but we see parts of it We see many startups already doing this: -Ideation sites like uservoice co-ideate new products -Kickstsarter co-funds new ideas -Quickly co-builds new products But 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.“