Crowd Companies | Chief Catalyst
Jeremiah is the Chief Catalyst and Founder of Crowd Companies, which focuses on how large companies tap the collaborative economy, maker movement, and customer collaboration. Prior, he was a founding partner at Altimeter Group and an industry analyst at Forrester Research covering social computing.
He focuses on how disruptive Web technologies—such as social media, the collaborative economy, and interactive marketing—impact the relevance of corporations to customers today and in the future. He is well recognized by both the tech industry and the media for his grounded approach to deriving astute insights through rigorous research. His blog, “Web Strategy” is one of the premier blogs on how corporations connect with their customers using Web technologies. Jeremiah is frequently quoted in top-tier publications, such as The Wall Street Journal, The New York Times, and USA Today. Previously, Jeremiah was a founding partner at the Altimeter Group, worked at Forrester and at Hitachi, where he launched the company’s first social program. He was featured in the “Who’s Who” in the Silicon Valley Business Journal, and his Twitter feed was named one of the top feeds by Time.
Talk:
From AirBnb, Etsy, TaskRabbit, Sidecar, to Lyft, the the sharing economy is on the rise. Organizations can benefit from this movement by tapping into the crowd by enabling them to better utilize your own resources, and to create new business opportunities that reduce capital expenditures and operating costs.
Our research will share how corporations can not just stay relevant, but lead the charge in their own community. This presentation will share three ways corporations must shift their business (and marketing) to adopt to the collaborative economy.
Find out how companies can activate these technologies to make goods and services available on demand, reducing waste. Find out how companies can tap into marketplaces to help them motivate sharing of used goods and products. Finally, find out how top organizations can tap into the crowd into every business function, reducing costs and increasing innovation.
In this presentation, you will find out how this movement enables the clean web:
What’s causing this sharing movement
Which verticals are being impacted the most
What are the driving forces --and opposing forces to sharing
What is the impact to corporations
What companies and marketers must do now to overcome this disruption.
6. 6
Collaborative Economy Terms
• Collaborative Economy: The overall economic movement where
people get what they need from each other.
• Crowdfunding: A process where people fund new projects in
exchange for perks or equity.
• Maker Movement: A process where people build their own goods –
rather than buying from traditional stores.
• Sharing Economy: People share what they already have –rather
than buy.
7. 7
Collaborative Economy Terms
• On Demand Service: Easy to use apps and websites deliver goods
and services within a push of a button
• Access over ownership: On demand models that enable goods
and services to emerge rather than purchasing.
• Activate Idle Resources: A tenant that cars, drills, and homes are
often not used –now we can quickly use on demand via mobile and
social technologies.
• Marketplaces (Two-sided): Software platform that enables the
tractions of providers and partakers. (hosts and guests, drivers and
riders).
8. The Collaborative Economy
Phases of Internet Sharing
8
From Altimeter Research: The Collaborative Economy, 2013, Jeremiah Owyang
9. What role do corporations play
if people get what they need
from each other?
10. The Collaborative Economy
An economic model where creation, ownership, and access
are shared between people and corporations.
21. 21
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.
22. Introduction
22
Cookening is a marketplace connecting
traveling guests with local hosts for
homecooked meals.
Cookening facilitates local food experiences and meetings
between strangers from different cultures over a homecooked
meal.
23. 23
Munchery allows customers to order
handmade meals by local chefs for
same-day delivery.
Munchery has served nearly 600,000 meals in the Bay Area.
24. 24
Leftover Swap facilitates trading or
giving away of leftovers through their
mobile app.
Leftover Swap hopes to minimize the 40% of the food we use
going to waste as well as the fact that 25% of people don’t know
their neighbor’s names.
30. 30
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.
55. 55
BMW offers DriveNow, a premium car-sharing
service that offers cars on-demand
vs. owning.
DriveNow lets you own a BMW, just for the day. Vehicles including
BMW i, Mini and Sixt. Over 1,000 vehicles are now available in five
cities worldwide, including San Francisco, with over 60,000 customers.
56. 56
Volkswagen launches Quicar, a car-sharing
program for Volkswagen cars.
Quicar operates solely in Hanover, Germany with over 5,000 members
and 62 stations. In April 2013, they bought stake in Greenwheels, the
largest carsharing company in the Netherlands.
57. 57
Peugeot offers mobility membership,
redefining car ownership to access to
many forms of transportation.
Mu by Peugeot is available at over 90 sites in 7 European countries.
The elevated level of service offers rentals for cars, vans, scooters,
bicycles and accessories including roof racks and car seats.
59. Introduction
59
ING offers a co-working space, Network
Orange, in Downtown Toronto.
Large corporations are finding value in collaborative spaces and
launching groups like ING’s Network Orange.
64. 64
B&Q launches StreetClub, a social
network to enable neighborhood
sharing in the UK.
Four months after its launch, StreetClub had over 1,000 set up.
65. 65
Numerous European telecom
providers partner with Fon to allow
users to share wireless networks.
Fon offers access to over 12M hotspots around the world. Only
4M are from Fon routers. The other 8M are from partnerships with
broadband providers.
66. Introduction
66
Argos partners with Barnardo’s for a toy
exchange program to raise non-profit
funds.
Last year, over 45,000 customers donated toys at 740
participating Argos stores to raise £ 700K for Barnardo’s. This year’s
goal is £ 1M.
67. 67
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.
69. 69
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.
76. 76
Microsoft launches Chip In, a
crowdfunding program to help students
purchase computers.
Microsoft’s program created opportunities for students to use their
networks to fund the purchase of a Microsoft computer or tablet
for school. Microsoft kicked in 10% of the purchase price of any
fully-funded crowdsourced purchase.
77. 77
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.
79. 79
Titan Bank & Congressional Bank start
buying loans through Lending Club.
This partnership allows these community banks to facilitate
consumer loans they could not profitable service on their own,
creating new opportunities.
80. GE Co-Develops with Quirky for
sharing of ideas, supply chain,
marketing, and revenues
80
83. 83
Philips spins off Shapeways, a 3D
printing marketplace & community
platform.
Shapeways has printed more than 1M user-created objects, has
over 10,000 shops by independent designers and 6M+ product
variations.
84. Introduction
84
GE partners with TaskRabbit to provide
free delivery services by TrekRabbits.
GE promoted their ‘Brilliant Machines’ advertising campaign by
highlighting collaborative consumption and futuristic Star Trek.
86. 86
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.
87. 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
87 credit card program.
88. 88
Market Place Model Needs
• Coinnovation platforms
• Tilt.com
• Reclay
• Etc
• Etc
91. 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.
92. 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.
93. Agenda:
1) The Collaborative Economy movement
2) Exercise: Why is it happening?
3) The new business models
4) Build your own business plan
95. Design a Resilient Business Model
1) Which of the three business models fit your
needs?
2) What’s needed to make this happen?
(technology, services, other resources, mindset
changes)
3) What are the risks and how will you mitigate?
4) How will you measure success?
96. Design a Resilient Business Model
1) Which of the three business models fit your
needs?
2) What’s needed to make this happen?
(technology, services, other resources, mindset
changes)
3) What are the risks and how will you mitigate?
4) How will you measure success?
97. 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.
98. Design a Resilient Business Model
1) Which of the three business models fit your
needs?
2) What’s needed to make this happen?
(technology, services, other resources, mindset
changes)
3) What are the risks and how will you mitigate?
4) How will you measure success?
99. Design a Resilient Business Model
1) Which of the three business models fit your
needs?
2) What’s needed to make this happen?
(technology, services, other resources, mindset
changes)
3) What are the risks and how will you mitigate?
4) How will you measure success?
100. Design a Resilient Business Model
1) Which of the three business models fit your
needs?
2) What’s needed to make this happen?
(technology, services, other resources, mindset
changes)
3) What are the risks and how will you mitigate?
4) How will you measure success?
101. 101
FUTURE
• APIs
• Platforms
• 3D printing
• Airbnb future
• People own less
• Cant tell employees apart from customers
102. 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.
103.
104. Welcome to the Collaborative Economy
Crowd Companies
Empowered People & Resilient Brands
Jeremiah Owyang
Founder
@jowyang
Jeremiah@CrowdCompanies.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
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/
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 palace
I’m pleased to share, that his lineage is the second oldest monarchy in the world
Not 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 kingdom
And if you want to collaborate in the economy. , then you must….