Dodge Dart Registry: People’s Insights Volume 2, Issue 17
 

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This week, we distill insights around Dodge Dart Registry - a crowdfunding platform that helps customers request friends and family to sponsor individual parts of their new car for them. ...

This week, we distill insights around Dodge Dart Registry - a crowdfunding platform that helps customers request friends and family to sponsor individual parts of their new car for them.

100+ thinkers and planners within MSLGROUP share and discuss inspiring projects on social data, crowdsourcing, storytelling and citizenship on the MSLGROUP Insights Network.

Every week, we pick up one project and do a deep dive into conversations around it -- on the MSLGROUP Insights Network itself but also on the broader social web -- to distill insights and foresights. We share these insights with you on our People’s Insights blog and compile the best insights from the network and the blog in the People’s Insights Quarterly Magazine, as a showcase of our capabilities.

We have further synthesized the insights to provide foresights for business leaders and changemakers — in the ten-part People’s Insights annual report titled Now & Next: Ten Frontiers for the Future of Engagement, now available as a Kindle eBook.

For more, see: http://peopleslab.mslgroup.com/future-of-engagement

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Dodge Dart Registry: People’s Insights Volume 2, Issue 17 Document Transcript

  • 1. crowdsourcing | storytelling | citizenship | social dataDodge Dart RegistryPeople’s Insights Volume 2, Issue 17
  • 2. Volume 2, Issue 17,April - June, 2013Future ofMoneyDodge Dart Registry100+ thinkers and planners withinMSLGROUP share and discuss inspiringprojects on social data, crowdsourcing,storytelling and citizenship on theMSLGROUP Insights Network. Everyweek, we pick up one project and curatethe conversations around it — on theMSLGROUP Insights Network itself butalso on the broader social web — intoa weekly insights report. Every quarter,we compile these insights, along withoriginal research and insights from theMSLGROUP global network, into thePeople’s Insights Quarterly Magazine.We have synthesized the insights fromour year-long endeavor throughout 2012to provide foresights for business leadersand changemakers — in the ten-partPeople’s Insights Annual Report titledNow & Next: Ten Frontiers for the Futureof Engagement.People’s InsightsIn 2013, we continue to track inspiringprojects at the intersection of socialdata, crowdsourcing, storytelling andcitizenship.Do subscribe to receive our weeklyinsights reports, quarterly magazines, andannual reports, and do share your tips andcomments with us at @PeoplesLab onTwitter.People’s Insightsweekly reportPeople’s Insightsquarterly magazinesPeople’s InsightsAnnual Report
  • 3. 3What is the Dart Registry?In January 2013, Dodge launched the Dart Registry, a crowdfunding platform to help customers requestfriends and family to sponsor parts of the new car for them. People share their story, set funding goalsand recruit support from networks – while generating word of mouth around the Dodge Dart anddrawing attention to the car’s parts.How it worksPeople sign up at the Dart Registry, customize the car they want, set a funding goal accordingly and thenask friends and family to fund individual parts of the car. Each step is designed to connect fundraisersand potential funders with the various parts and features of the Dodge Dart.Source: adweek.comSource: dodgedartregistry.comAdweek’s Tim Nudd explains the process:“You sign up for the program, configure andcustomize a Dodge Dart (choosing from 12 exteriorcolors, 14 interior color and trim options, three fuel-efficient engines, three transmission choices, safetyfeatures, aerodynamics, etc.), and set a goal for theamount of money you want to raise to fund it. Thesite then itemizes components of the car—like asteering wheel, shifter, seat or engine—and allowsfriends, family or anyone to sponsor the parts.”Source: ------
  • 4. Volume 2, Issue 17,April - June, 2013Future ofMoneyDodge Dart RegistrySource: dodgedartregistry.comSource: dodgedartregistry.comSeveral thinkers have likened the campaign to awedding gift registry. AdAge’s Shareen Pathaksaid:“Chrysler is trying to redefine a wedding ritual with“The Dodge Dart Registry,” a site that lets engagedcouples raise money toward purchasing a new carby asking their friends and family to chip in.”Blogger Jeffrey Ross said:“The Dodge Dart Registry allows people to buildand customize a new Dart exactly how they wantit, then let other people purchase some or all of thecomponents as gifts.”Similar to crowdfunding platformsThe Dart Registry is modeled after conventional crowdfunding websites like Kickstarter, with elementslike progress bars, funding tiers and countdowns.People can set the fundraising duration as 30, 60 or 90 days, and can customize four funding tiersfor acquaintances, friends, family and supporters. The registry then assigns different car parts to thedifferent tiers and prompts potential funders to explore and choose a part to sponsor.At the end of the fundraising timeline, fundraisersreceive all the money raised minus a hefty 9%processing fee. Dodge acknowledges that “it willbe tough to raise the full price of a new car,” andgives fundraisers the power to spend their fundstowards the car or as they wish:“Your goal instead can be to raise enough for adown payment, or enough to lower your monthlypayments.”Recruiting support around a storyor for a causeThe story or cause behind the fundraisingcampaign is crucial in recruiting support fromfriends, family and other benefactors.Examiner’s Brandon Seiler points out:“The case itself is the most important part ofsetting up the profile. Here users write and/or posta video to explain why they deserve help buying aDart. The more endearing the message the morelikely people feel compelled to donate.”
  • 5. 5Source: US PIRG - A new direction in driving trendsSource: dodgedartregistry.comIn fact, one of the Dart’s Registry’s largestsuccess stories centers around a registry that wascreated to crowdfund a car for a cancer patient.Jody Mostoller, who created the registry with hiswife Teri, commented:“Teri immediately thought about our friend andhow creating a registry would be an easy wayfor people to help her get the new car she sodesperately needed. The community rallied behindthe idea and it was so much fun to watch it allunfold.”The powerful story led to a large amount ofsupport from local communities and cancersurvivors elsewhere. AutoGuide’s Jason Siureports:“More than 260 friends, family, and fellowparishioners contributed to the registry raising over$22,600 in 21 days. As a result, an all-new 2013Dodge Dart SXT was purchased and everyone fromthe local community was present when the keyswere handed over to their friend.”Generates word of mouthMarketers have applauded Dodge’s use of socialmedia and crowdfunding to raise awarenessaround the car.Forbes contributor Matthew de Paula noted thatthe program should help get the Dodge Dart “onthe radar of potential buyers”:“The way the Dodge Dart Registry ties in socialmedia could prove helpful in that regard. As would-be car buyers post updates on their fundraising,they’ll be helping to boost awareness of thecompact sedan.”Forbes’ Joann Muller commented that theprogram does a better job of raising awarenessthan driving sales:“I don’t see a lot of money flowing through thisscheme. I will say, however, that it’s an ingeniousway for Dodge to draw attention to the Dart, whichso far, is being overlooked by many.”Targets millennialsMarketers also believe the Dart Registry willhelp Dodge reach millennials - a covetedaudience for automakers. Millennials areless likely to drive cars compared to previousgenerations (according to recent report fromU.S. PIRG) and have more options for mobility(such as car-sharing and ride-sharing programs,which we outline in our report on collaborativeconsumption).TIME’s Brad Tuttle highlighted some additionalchallenges in reaching this audience:“The marketing and selling of cars to millennialsis a tricky business. This demographic is lukewarmabout car ownership, and is more likely to hate theusual car-buying process—haggling especially. Ifthey are interested in automobiles, they tend to bedrawn to quirky car models with flashy colors (theDart qualifies).”Creates a new audience – peoplewho previously couldn’t affordcarsSome thinkers believe that crowdfundingprograms like the Dart Registry will help luxurybrands reach a new audience of people whocannot afford their products.Here’s a comment posted on car blog Jalponik:“This isn’t so much a campaign to sell the cars,more of a campaign to help people afford them.Everybody would be driving a new car if theycould easily afford one. This is a novel marketingcampaign that attempts to get people whootherwise would not be able to afford ANY new car,to be able to afford one.”
  • 6. Volume 2, Issue 17,April - June, 2013Future ofMoneyDodge Dart RegistrySource: brandchannel.comSource: How to change buying cars foreverSimilar programs from Hyundaiand MicrosoftHyundai partnered with niche crowdfundingplatform Motozuma in 2011 to help peoplecrowdfund cars and has reportedly sold 1,600units. In comparison, the Dart Registry hasreportedly sold only 2 units since January 2013.Source: crowdfundinsider.comBrand Channel’s Dale Buss attributes Hyundai’ssuccess to a matching contributions scheme andwider range of eligible cars:“Hyundai may have gained an edge in the autoindustry’s early crowdsourcing initiatives bymatching contributions on Motozuma dollar fordollar, up to $500, as consumers try to roundup contributions from friends and family for adown payment on a new car. It may also help thatHyundai doesn’t focus on a particular nameplate inthe promotion.”Blogger Charles Luzar believes that thisapproach has potential to play a bigger role inreaching millennials in the future:“Although the reach is limited for now, theapproach could pay dividends in the long run ascar manufacturers struggle to gain traction withMillennial car buyers.”Non-automotive brands too are exploringcrowdfunding solutions with matchingcontributions to make their products moreaffordable. For instance, Microsoft recentlylaunched a dedicated branded platform Chip Into help people crowdfund Windows PCs.
  • 7. People’s Lab is MSLGROUP’s proprietarycrowdsourcing platform and approach thathelps organizations tap into people’s insights forinnovation, storytelling and change.The People’s Lab crowdsourcing platformhelps organizations build and nurture publicor private, web or mobile, hosted or whitelabel communities around four pre-configuredapplication areas: Expertise Request Network,Innovation Challenge Network, Research &Insights Network and Contest & ActivationNetwork. Our community and gaming featuresencourage people to share rich content, vote/comment on other people’s content andcollaborate to find innovative solutions.The People’s Lab crowdsourcing platformand approach forms the core of our distinctiveinsights and foresight approach, which consistsof four elements: organic conversation analysis,MSLGROUP’s own insight communities, client-specific insights communities, and ethnographicdeep dives into these communities. The People’sInsights Quarterly Magazines showcase ourcapability in crowdsourcing and analyzinginsights from conversations and communities.People’s Lab:Crowdsourcing Innovation & InsightsLearn more about us at:peopleslab.mslgroup.com | twitter.com/peopleslab
  • 8. For People’s Lab solutions, contactpascal.beucler@mslgroup.com