December 14, 2015

The Sharing Economy

A phrase commonly used to describe the global, connected environment we live in, is the Sharing Economy.

Tech startups like UberAirBnB, RentoidAirTasker and countless others that are disrupting by the minute, are adding incredible value by facilitating more efficient ways for us to share the resources we already have – whether they be our cars, rooms, stuff, even our time.

Consider that the world is now at the beginning stages of sharing more of its stuff more efficiently (and cheaply *and* in more personal, human ways).

The more we share… the less we need to buy.

How can Brands stay relevant to customers when customers no longer need to buy to consume?

Every iconic Brand we know and love has known the answer to this question for decades.

And it was crystallised by a psychologist in 1943 by the name of Abraham Maslow:

Maslow’s Hierarchy of Needs

More than ever, the brands that will win are those who are able to help followers move up Maslow’s Hierarchy of Needs.

So even if a Brand loses on initial sale because their product is being shared instead of purchased, they can *still* take this person on a relational journey of becoming over time – and ultimately open opportunities for future sales and increased LCV.

This is a huge Sharing Economy advantage for Brands who choose to Connect rather than Interrupt.

If your end goal is to solely get people to buy, your finish line is too short.

Where are you taking your followers?

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About Adam Sugihto

Founder of Intentional - a specialist Pay Per Click Advertising Agency based in Melbourne, Australia. Member of Perry Marshall's Marketing Mastermind since 2011. Google Adwords Qualified Individual since 2010.

Category

Connection Economics