{"id":14005,"date":"2013-05-07T03:59:26","date_gmt":"2013-05-07T10:59:26","guid":{"rendered":"http:\/\/www.web-strategist.com\/blog\/?p=14005"},"modified":"2013-08-28T08:45:28","modified_gmt":"2013-08-28T15:45:28","slug":"the-next-phase-of-social-business-is-the-collaborative-economy","status":"publish","type":"post","link":"https:\/\/web-strategist.com\/blog\/2013\/05\/07\/the-next-phase-of-social-business-is-the-collaborative-economy\/","title":{"rendered":"The Next Phase of Social Business is the Collaborative Economy"},"content":{"rendered":"

\"New<\/a><\/center>
Above Image: Market Opportunities for the Collaborative Economy by Vertical, from Sharable Magazine<\/a> follow them on Twitter<\/a>.<\/em><\/center>What’s the next phase of Social Business? \u00a0That’s the question I’m frequently asked. \u00a0Without a doubt, the next phase is the Collaborative Economy.<\/p>\n

<\/p>\n

[Collaborative Economy is next phase of social. Social networks share ideas, yet collaborative economy shares products & services]<\/h2>\n

<\/center>What’s that the Collaborative Economy? \u00a0It’s where brands will rent, lend, offer subscriptions to products and services to customers or, even further, allow their customers to lend, trade, or gift branded products or services to each other. \u00a0This unstoppable trend is fueled by the social web. \u00a0Its specific features include relationships, online profiles, reputations, expressed needs and offerings, and ecommerce. \u00a0Brand customers are already starting to conduct these behaviors among themselves using TaskRabbit, AirBnb, Lyft, and many others tools.\u00a0 Some of these are disruptions for brands. \u00a0Others are opportunities.<\/p>\n

<\/p>\n

[The next phase of Social Business is the Collaborative Economy; Brands will enable customers to share, trade, lend, gift products and goods using social technologies]<\/h2>\n

<\/center>While this movement will have broader global and economic impacts, at Altimeter we’re focused on disruptions to corporations. \u00a0We’re knee deep in interviews for our next report on the Collaborative Economy. \u00a0We have interviewed startups, venture capitalists, brands, social business software vendors, authors, and thought leaders. \u00a0We are\u00a0dissecting data of 200 sharing startups<\/a> for a broad overview of what it means to business.<\/p>\n

Matrix: Phases of Social Business<\/strong><\/center><\/p>\n\n\n\n\n\n\n\n\n
Phase<\/strong><\/td>\nDepartment Impacted<\/strong><\/td>\nNotable Examples<\/strong><\/td>\n<\/tr>\n
Phase 1<\/td>\nPR and Brand<\/td>\nDell Hell incident, Kryptonite Lock<\/td>\n<\/tr>\n
Phase 2<\/td>\nMarketing realizes an opportunity to conduct outreach<\/td>\nCorporate blogs: Fast Lane by GM, Microsoft blogs, IBM Blogs<\/td>\n<\/tr>\n
Phase 3<\/td>\nCustomer Support<\/td>\nHP massive online communities, Home Depot Communities, Comcast Cares<\/td>\n<\/tr>\n
Phase 4<\/td>\nProduct Innovation<\/td>\nStarbucks Ideas, Dell Ideastorm<\/td>\n<\/tr>\n
Phase 5<\/td>\nThe Business model, supply chain, various other departments<\/td>\nUsing social tools, customers are sharing, selling, and renting your goods to each other<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Caveat: There are many broader impacts inside of a company that also impact HR, recruiting, supply chain, IT and other departments.\u00a0 Those cited above are just a sample of the most often publicized impacts.<\/p>\n

\n

Brands Already On Board: Toyota, Barclays Card, Avis, BMW, Walmart<\/strong>
\nWhat are some examples of companies that are already taking advantage of this new social business trend\u00a0? \u00a0Here are a few from the\u00a0Master List of Brands Participating in the Collaborative Economy<\/a>: \u00a0Toyota, OnStar and BMW are allowing cars to be rented so that they can stay current with car sharing or lending services like Lyft, RelayRide, Zipcar and Uber. \u00a0Barclays Card sponsors and supports bicycle sharing in the city of London, associating their brand with the movement.\u00a0 Retail giant, Wal-Mart, is considering competing with TaskRabbit and Amazon by allowing customers to deliver goods to each other.<\/p>\n

<\/p>\n

[The first phase of Social Business impacted branding and PR, then it shifted to support and product development. The next phase impacts core business models]<\/h2>\n

<\/center>Ecosystem Opportunities Aplenty<\/strong>
\nWhat are the immediate business opportunities? \u00a0There’s a long list, and the report will probe them in detail, but it will include sponsorships, partnerships, investments in startups, building branded communities that enable renting and gifting, customer advocacy programs, and more. I’m seeking a “Software as a Service” (SaaS) startup that would enable this for brands and dedicate\u00a0an entire post outlining the market opportunities<\/span>. \u00a0For example, on just the retail vertical, yesterday I met with Neal of Sharable Magazine, and he\u00a0shared many opportunities for retailers<\/a>.<\/p>\n

<\/p>\n

[Social Business + Sharing Economy = Collaborative Economy]<\/h2>\n

<\/center>Paradigm Change Required in Corporations
\n<\/strong> So there you have it, the next phase of Social Business goes beyond marketing and customer support. \u00a0It changes the fundamental business models and relationships that we have with our customers. \u00a0The big change that brands will have to face is that they will have to care about the relationship\u00a0between<\/em>\u00a0customers as they trade and rent your products between themselves.<\/p>\n

Collaborative Economy Requires a New Business Mindset<\/strong><\/center><\/p>\n\n\n\n\n\n
Company Mindset:<\/strong><\/td>\nTraditional Mindset<\/strong><\/td>\nSocial Business Mindset<\/strong><\/td>\nCollaborative Economy Mindset<\/strong><\/td>\n<\/tr>\n
How they think:<\/strong><\/td>\nBrands are in charge. Deal with it.<\/td>\nBrands are in charge. Deal with it. Customers are in charge. We are listening, and we will engage. We care about your current experience with our goods.<\/td>\nWe must now care about extended life of good after<\/em> we sell it, and the relationship between<\/em> customers.<\/td>\n<\/tr>\n
Strategy they deploy:<\/strong><\/td>\nBrand Experience<\/td>\nCustomer Experience<\/td>\nMarketplace Experience<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

Stay tuned for Altimeter’s report on the Collaborative Economy in just a few weeks. I’ll be presenting the findings at LeWeb<\/a>, which is themed on the Sharing Economy. \u00a0Thank you, Vivian Wang<\/a>\u00a0and\u00a0Neal Gorenflo<\/a>\u00a0for the inspiring interviews these past few days.<\/p>\n","protected":false},"excerpt":{"rendered":"

Above Image: Market Opportunities for the Collaborative Economy by Vertical, from Sharable Magazine follow them on Twitter.What’s the next phase of Social Business?  That’s the question I’m frequently asked.  Without a doubt, the next phase is the Collaborative Economy. [Collaborative Economy is next phase of … Continue readingThe Next Phase of Social Business is the Collaborative Economy<\/span><\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[198,156],"tags":[],"class_list":["post-14005","post","type-post","status-publish","format-standard","hentry","category-collaborative-economy","category-matrix"],"_links":{"self":[{"href":"https:\/\/web-strategist.com\/blog\/wp-json\/wp\/v2\/posts\/14005","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/web-strategist.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/web-strategist.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/web-strategist.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/web-strategist.com\/blog\/wp-json\/wp\/v2\/comments?post=14005"}],"version-history":[{"count":0,"href":"https:\/\/web-strategist.com\/blog\/wp-json\/wp\/v2\/posts\/14005\/revisions"}],"wp:attachment":[{"href":"https:\/\/web-strategist.com\/blog\/wp-json\/wp\/v2\/media?parent=14005"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/web-strategist.com\/blog\/wp-json\/wp\/v2\/categories?post=14005"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/web-strategist.com\/blog\/wp-json\/wp\/v2\/tags?post=14005"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}