Smart brands don't let themselves into the ivory tower of the brand

Smart brands do not let themselves into the ivory tower of the brand, avantgarde companies will redefine the relationship between consumers and form a relationship with their active cooperation. These partnerships create mutually beneficial changes that allow organizations to make faster business decisions.

With the advent of social media, we find that the previous marketing model has been greatly challenged. The Top-down business model can be said to have come to a dead end, and people are now increasingly shunning the direct advertising model and turning to getting information from the people around them. This paradigm shift also means the advent of shared economies. This all-encompassing spirit of collaboration is not a fundamental change in the global economic system, but it also spreads to our lives and our societies.

Smart brands do not let themselves into the ivory tower of the brand, avantgarde companies will redefine the relationship between consumers and form a relationship with their active cooperation. These partnerships create mutually beneficial changes that allow organizations to make faster business decisions.

Diane Hessan, President of Communispace, a consumer cooperation agent in the United States, recently shared 5 methods in Inc, which not only accept but also thrive in a shared economy.

1. Confidence-building

"Why Mine is yours: the birth of cooperative consumption," said Rachel Botsman, "The really magical and secret condiment is not inventory or money behind a co-operative consumer market like Airbnb." It is the power to use technology to build trust between strangers. "The social media called the Open feedback loop, which is placed in a shared economy, is increasing barriers to service standards," he said. Brand reputation and trust are almost entirely in the people's voice. After all, without trust, why do you let a stranger sleep in your house when you are not at home?

2. Listening and implementing

Building trust and making sharing work is required to interact with consumers through all aspects of the company's operations, from product development to the delivery of brand-related information. The savvy companies that listen to their customers, then do take concrete actions to deal directly with their problems, to get their trust, money and respect.

Of course, it's easier said than done. But here's an example of how to do it. The National Car rental company is working with a wide range of customers who express their views on the car rental experience through a personal online community. This open, honest dialogue tells important business decisions and keeps the company and its customers in sync with changing needs. The payoff: The car rental company's membership and revenues have grown steadily over the past 4 years, and the company has won praise across the industry and the highest customer experience.

3. Adapting to the new economy

Prosperity in a shared economy requires brands to use the content of Spotify and Zipcar scripts to cater to those who enjoy access to ownership. Brands must find different ways to emulate, not more than, the originators and innovators who share the economy. For example, Home Depot allows customers to hire tools and trucks for their families to improve, instead of buying things that are occasionally used once. Toyota designed the I-road, a small electric concept car that was eventually adopted and shared in the city fleet, similar to the bicycle-sharing boom in many cities.

4. Put your share within your marketing pipeline

In a shared economy, there is no universal business model. Participation means expanding the lifecycle of a product in some conditions, or trading or sharing it with incentives customers rather than throwing it away and buying new one. For example: H&m can use any brand of old clothes to exchange points in the store so that old clothes can be resold or recycled into new fabrics.

You will expand production resources to understand the shared economy, like the retail chain Nordstrom, which is now in the shop and selling handmade goods online through partners such as Etsy. Or consider outsourcing, as in the case of Walgreens, which recently worked with online freelance market TaskRabbit operations to sell over-the-counter cold medicine to people who were sick at home.

5. Accept Others

In the recent difficult financial environment, environmental sustainability concerns and ubiquitous technology, sharing the economy to give us the ability to become better, can solve the problem together. For brands, this means rethinking the business as usual. Brands have to think about their customers, not just like targets or data points, but also active, ongoing partners. Just a glimpse of fundraising sites, like Kickstarter,indiegogo,the Lending Club or Kiva, will understand why. These sites are so successful because people want to see them making an impact. When they do, when people have the opportunity to share their ideas, wisdom and inspiration, and actively and sincerely cooperate with others, they are willing to devote their time, money and energy to achieve the collective interest.

In this new economic reality, brands evolve, adapt, and eventually prosper, and they need to fundamentally reshape their relationship with their customers. Without equal partnership and trust, sharing cannot be achieved. Trust is the currency of cooperative economy, in order to get the result, the brand must be actively invested.

There are many examples of success today in this era of shared economy. They use their cooperation with customers to create a growing income and value for their businesses. If you're not a new brand, how are you going to change your branding strategy and get more from your customers and partners in this era of shared economics?