- Content Marketing
When Your Customers Become Your Contributors: Brand Journalism Meets TraditionalGoogle Is Changing the Close Variant Matching Option in AdWordsBefore You Invest in Online Advertising, Do This!Native Advertising: The New New Thing or a Race to the Bottom? [VIDEO]
Technology & Data
Data and Creativity at the Social Shake Up: Defining Your Data-Driven Social CampaignTalking Strategy and Data with Shannon Lee of Precision StrategiesNew IBM Study Reveals 3 Key Characteristics of the Most Successful CompaniesMinority Report: Confronting Privacy Issues in Big Data Gathering
- Tech & Innovation
- marketing automation
Social Startups: Moment.me Captures a 360-Degree View of The Social Shake-Up 2014Hootsuite Partners With Syracuse University to Bring Social Media Savvy to College StudentsThe Best Hyperlapse VideosThe Best Content Moderation Tools for Busy People Who Don't Have Time for That
Social Change Agent Survey: Passion, Skill Set, and Persistence Lead to Career GrowthThe Social Shake-Up Attracts Wide Breadth of Brands and IndustriesThe Social Shake-Up: How CMOs Drive Innovation and Revenue GrowthThe Social Shake-Up: The Future of Social Business
- Small Business
- Social Organization
Recap from the First-Ever Employee Advocacy SummitFormer IBM Senior Advisors Launch Brands Rising to Build Employee Advocacy ProgramsPerformance and Risk Management Through Social Media TrainingEmployee Advocacy Summit: Advocate Stories from the Field
- Customer Service
Join us September 15th in Atlanta for The Employee Advocacy Summit and learn how to unleash the power of your employees.
Post your event here and we'll share it with our community. If one of our members is featured, we'll promote as well on their profile.
- Marketplace & Webinars
The SMT Marketplace
Your resource for exclusive content and insights from Social Media Today, and opportunities to reach our community of professionals.
The Social Business Book Club brings you books, discussions, and insights from today's to business thought leaders.
Join interactive talks and and panel discussions with leading thinkers and practitioners on social media and networked business, or browse the catalogue of recorded sessions - all completely free.
Reach Social Media Today's community of marketing and communications professionals in an editor-approved context with a native advertising package.
Altimeter Urges Preparation for the Sharing Economy [SLIDESHARE]
Posted on June 5th 2013
If you are a regular reader of this blog over the past few years, you have seen news and insights about social business and the growing sharing economy. In fact, the reason I have been blogging a little less in the past month is that I am working on an ebook on the topic. (Watch for it in the next month or two!) Luckily, Altimeter Group just made the job of researching and writing my ebook a little easier. The firm, which has embraced a sharing model itself in how it collects and distributes research, has just published a terrific report on the sharing economy.
The publication, by Jeremiah Owyang, defines the Collaborative Economy as:
An economic model where ownership and access are shared between corporations, startups, and people. This results in market efficiencies that bear new products, services, and business growth.
The shift in consumer consumption habits will have an increasingly troublesome impact to some long-standing business models. The report lists six categories of business that the sharing economy will affect, including the automotive business. Altimeter cites some terrific data to make the point, such as that “every carsharing vehicle replaces 9-13 vehicles” resulting in a revenue loss of $270,000 to auto manufacturers.
The report surveys some 200 sharing economy companies with an average funding of $29 million. Almost two-thirds of these companies focus on peer-to-peer sharing (where an individual who owns an asset or has a skill makes this available for rent to other individuals) as opposed to business-driven sharing (where a business makes goods or services available to consumers). The difference is the difference between RelayRides (which allows consumers to rent their vehicles to other consumers) and Zipcar (which owns and disperses a fleet of vehicles for rent).
Owyang shares some excellent thoughts on what this new form of business will mean to companies. For example, he notes, “Companies risk being disintermediated.” Just like iTunes replaced Musicland and Amazon bumped Borders, the sharing economy will make losers out of the firms who fail to invest in the future.
The report also looks at the changes the sharing economy will bring within companies and not just externally. For example, Altimeter foresees a “porous workforce redefining employer and employee roles.” And it notes that the “difference between employees and customers blurs,” citing the excellent example of GiffGaff, a UK telecom company that leverages customer support communities to significantly reduce the need for customer support employees.
Altimeter’s report on the The Collaborative Economy is a great read and highly recommended for those who want to know the future. I hope you will also watch for my upcoming ebook, which explores these same trends and what companies can do today to prepare.