The new economy is a sharing economy. Connectivity, collaboration, and innovation are the drivers of this emerging economic shift and you can be right there in the thick of it, ready for success. As the old ways of branding and marketing fade away, we can see a new type of brand rise that uses networks to get direct feedback from consumers, collaborates with both consumers and other companies to deliver targets products, and innovates with the technology at hand. Think about companies like Uber, Redbox, and AirBnB that have grown exponentially by their use of connectivity, sharing and technology. So how can you take advantage of these new treads? Below are a few guidelines to get you moving in the sharing economy.
1. You must build trust with your customers. Trust is a huge influence on the sharing economy. Look at Uber. Essentially you are getting into a car with a stranger and they don’t work for a traditional transportation company like a taxi service. It is the driver’s personal car. You don’t know this person or their driving habits. You don’t know how well they maintain their vehicle either. But you get inside and trust they are credible. Uber has done a great job building trust and they are using the connectivity and social engagement of the sharing economy to do so.
2. Listen first and then act. A massive benefit to living in this time of change is the ability to literally reach out to customers one-on-one and get direct feedback. This amazing business communication avenue is brought to us by social media and online communities. Take full advantage of these forums and regularly talk to your customers to gather data. Don’t stop there. Use the data and put it into action. Then get more feedback about the actions you took. This process of refining your business will improve your bottom line and keep your company innovating as the market shifts.
3. Encourage sharing within your business culture. Sharing is so important to this new business model that it should be ingrained into the fabric of your business plan. Start building a loyal community of employees and customers by creating sharing programs. Maybe its a collection of clothes or shoes for a local homeless shelter that would give customers an extra 20% off or maybe its a partnership with a local nonprofit for a company wide fundraiser. It doesn’t matter how your get your community to come together and share, the act of sharing as a unit will build cohesion and improve your brand.
In summation the sharing economy is here and its growing. You can grow with it if you start building trust, listen then act, and finally encourage community building through sharing. Give these tips a try and let me know how it works out for you. Happy selling from Wazala.
