Rachel Botsman (co-author of What’s Mine is Yours: The Rise of Collaborative Consumption) predicted the development of a new economic model based on peer-to-peer sharing: “It involves the re-emergence of community. […] This works because people can trust each other.” From here on, all the debates revolve around the ideology, the values, and the social-change aims of the companies, managers, developers and entrepreneurs involved in this shared economy. Four years ago, Time identified collaborative consumption as one of the 10 ideas that will change the world.
Let’s hear from the experts – those as committed as the pigs in the fable “The Chicken and the Pig”. A few days ago, Jeroen Merchiers, a fascinating executive committed to Airbnb, participated in an intimate roundtable discussion at ESADE. Jeroen fielded numerous questions regarding the fascinating value of collaborative consumption: consumption and ownership reduction, sharing instead of buying, the millennial generation’s pursuit of experiences rather than properties, a sustainable model, and so on.
But Jeroen underscored two main issues, the key factors for success in this new economic model:
- Social media play a key role in decision-making.
- The supplier-client relationship is evolving and disappearing. The model being developed takes the market orientation to an extreme: all parties are clients, guests and visitors. Jeroen’s company manages relationships between external parties, all of whom are clients. It’s therefore important to create value for everyone involved. The clients who pay are clients. The guests who offer me rooms are clients. With this absolute application of the win-win-win concept, the principle of “winner takes all” is fulfilled for everyone involved.
So we’ve moved from “peer-to-peer” to “everybody is a client”, or, as Kotler said ten years ago, from transactional to collaborative marketing.