Sharing Economy, Customer Experience and Legacy Brands
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This document discusses opportunities for legacy brands to embrace the sharing economy. It notes that over 25% of people have participated in the sharing economy. While initially seen as only appealing to millennials, one third of sharers are age 33-54. The document outlines some barriers to adoption that startups have faced, as well as attributes that have made startups attractive. It suggests ways that big brands could identify opportunities to provide value above their core offering, adopt best practices, and eliminate barriers to participation. Specific opportunities discussed include AirBnB for disaster relief and Tesla enabling car sharing. The document argues that embracing the sharing economy is a growth opportunity for legacy brands rather than a threat.
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Sharing Economy, Customer Experience and Legacy Brands
- 1. Sharing Economy, Customer Experience and Legacy Brands by tangerine lab @tangerinelab Constellation Connected Enterprise October 2014
- 2. The Eureka Moment: Superstorm Sandy October 22-31, 2012
- 4. The Opportunity For Legacy Brands?
- 5. Is This An Exclusive Club For The “Startup Class”?
- 6. Sharers 25+% Source: Jeremiah Owyang, Mar 2014
- 7. They Make Good Money Over a Third Make $75K+ US Per Capita Income: $54K Source: Carbon View Research, 2012
- 8. Not Just A Millennial Thing A Third Are 33-54 Years Old Source: Jeremiah Owyang, Mar 2014
- 9. What Are they sharing?
- 10. Driven By • Economics • Community • Social responsibility • Flexible lifestyle • Easy to do business with • Less is more
- 11. Why Should Big Brands Embrace it? It’s Not A Threat, But An Opportunity!
- 12. Apart From The Fact That You Can’t Ignore It… • Desirable market segment • Influential segment drives behaviors & attitudes to other segments • Risk free trials • Demonstrate social responsibility
- 13. But Also…. • Your customers continue to turn to you. • Digital business model transferable to enterprise. • Operations as a service?
- 14. Customer Experience Design Implications
- 15. Lessons From Startups: Barriers To Adoption & Implementation • Trust – Stolen or damaged property – quality and value • Scale in early stages • Cost of back-office ops
- 16. Lessons From Startups: Attractive Attributes • Digital first • Trust in network and social at the core • High customer satisfaction • Attractive economics – Make money from assets – Luxury without breaking the bank
- 17. Where are the opportunities? Value Above Core Offering Best Practices Opportunity Eliminate Adoption Barriers
- 18. How Big Is The Lift? • Persona & their customer journey? – Likely easier than creating a new market. • Opportunity to extend the current value? • Design the customer experience – Largely “digital and social first” • Leverage competencies – existing ops
- 19. Brands That Have Seized The Opportunity
- 20. Persona & Their Customer Journey
- 21. Opportunity To Extend Current Value
- 23. Uber United
- 24. Now Imagine….
- 25. AirBnB For Disaster Relief VALUE ABOVE CORE OFFERING Neighbor shelters neighbor BEST PRACTICES • Host/guest rating • Preregister property • Predisaster booking • Location aware • Alerts • Raise funds for host BARRIERS • Host rating system • Transaction capabilities for hosts & disaster victims
- 26. Most Popular TaskRabbit Jobs? Ikea Furniture Assembly VALUE ABOVE CORE OFFERING BEST PRACTICES • Rating system • Cashless • Location aware • Revenue share BARRIERS • Transaction capabilities Connect assemblers to furniture buyers
- 27. Share The Performance,Tesla! VALUE ABOVE CORE OFFERING Car sharing Like Car2Go BEST PRACTICES • Rating system • Cashless • Location aware • Revenue share BARRIERS • Membership discounts • Property insurance • Safety history • Charging station locator • Transaction capabilities
- 28. Not Ready To Go All In?
- 29. Conventions You Can Adopt In Brand Experience Design Conventions Brand Experience Elements Convenient Digital first Mobility = accessibility Trust Transparent rating system Social Low Friction Cashless 1-2 clicks Relevant Location aware Inclusive Luxury Uber: Everyone’s private driver Taskrabbit: We’ll do what you don’t want to Etsy: Handmade, originals
- 30. Final Words – Join the Movement • A growth opportunity, not a threat. – New customer segments – Customers extract more value from your product – Operations as a service (OAAS)? • Amplify customer experience by including the “sharer persona” in your customer journeys. • Augment core offering, adopt best practices, eliminate the barriers.