Where Does Loyalty Lie in the Collaborative Economy?
Collaborative Consumption | 22 February 2015
“How does it make you feel?” is a question I commonly ask when I meet hosts on Airbnb, drivers on Lyft or Taskrunners on Taskrabbit to try to understand the role this rising breed of companies in the collaborative economy play in people’s lives. What I have noticed is that I often don’t get a simple answer but they tell me a story, their story of why they are doing what they are doing. And embedded in these tales is a cult-like sentiment that could rival Apple devotees, Harley Davidson fanatics or Star Trek groupies.
To have achieved this level of devotion from their users is incredible given that many of these start-ups are less than five years old, have spent very little on traditional advertising and have relatively small marketing teams compared to established brands. So what can we learn from the collaborative economy in terms of opportunities to engage people and build loyalty in new ways?