At this year’s LeWeb, the largest Internet conference, Jeremiah Owyang (formerly with the Altimeter Group), announced the launch of Crowd Companies. Jeremiah’s latest endeavor forms a brand council that provides peer-to-peer knowledge, expert education and access to an innovation network of startups.
Crowd Companies will benefit not just those who are part of the brand council, but anyone thinking about the rising crowd-based economic movement. Here are three reasons why the launch of Crowd Companies is good news for global brands.
- The power to tap the crowd
Jeremiah’s extensive work on the emergence of social business and, more recently, the rise of the Collaborative Economy, shows how online technologies have empowered customers to share with each other and bypass traditional means of gaining information, products, services, money and space. As the sharing economy continues to grow, we expect Crowd Companies to further lead the conversation on how consumer collaboration will disrupt industries—and how global brands can provide real value in this new economy.
- Closing the gap between startups and big brands
Corporations that are being jolted by the Collaborative Economy are reacting in six different ways, according to Jeremiah, ranging from ignoring it to building their own marketplace. Aware of this new economy, some businesses have recently created partnerships with startups. For example, Home Depot recently teamed up with the startup Uber to deliver Christmas trees in some select cities. With both high-profile brands and hand-selected startups on Jeremiah’s side, don’t be surprised to see more creative and innovative collaborations in the near future.
- Attention to logistics and legalities
The Collaborative Economy affects more than startups and the corporations that they are affected. Other institutions, including agencies from various levels of government, have a stake at how this new economy shapes up. For instance, government institutions may need to step in to ensure healthy competition and combat any illegal activities. The good news is that Crowd Companies is comprised of people from many of these stakeholder groups, which should enable companies facilitate changes more quickly.
With trends such as the maker movement, 3D printing and alternative currency gaining traction, the Collaborative Economy is set to accelerate. With the help of Crowd Companies and their community of customers, companies should be better equipped to navigate this sharing economy.
If you’d like to learn more, Crowd Companies will host a webinar soon about its brand council. Registration isn’t open yet, but you can sign up on the Crowd Companies website to get notified when more information is available.
Jeremiah is a friend of Vision Critical—he spoke at our client summit in New York this year—and we’re thrilled about the launch of his new business. Vision Critical has partnered with Jeremiah for an in-depth look of the Collaborative Economy phenomenon. We’ll share the results of the study early next year. In the meantime, you can subscribe to get notified as soon as it’s ready.