So they say we are officially in the age of the “shareconomy“. Some analysts pin this phenomenon exclusively to Millennials like myself, stating a generational attitude adjustment of ours created a new sharing-is-caring approach to goods and services.
It’s not hard to see why analysts would blame/thank (a feeling as subjective as “Millenial”‘s connotation) the 20 and 30-somethings for popularizing the shareconomy. With a number of recent college graduates finding themselves back at square one, private possessions and pads becoming harder and harder to acquire, and substantial employment proving more difficult to land than in decades past, the idea of using only what you need and only when you need it, without much commitment, is an especially attractive one to this age group.
This model isn’t entirely new, though. Yes, paragons of the recent sharing surge like Lyft, Airbnb, Kickstarter, and even a driveway-sharing app called SpotOn Parking are very new installations, but the core concept of people with something and people without something establishing relationships is not so novel.
A much more significant element of “new” to note here actually lies beyond specific companies and movements of the last few years.
Instead of saying that people never exchanged services for pay, never invested their money in things they wanted to see make it, etc., we can say that the power to seek out service exchanges never fell so squarely in the people’s hands.
Word of service experiences never traveled so quickly or mattered so much, either.
My point is this: “You scratch my back and I’ll scratch yours” has long been a part of the economy. It’s the same elementary supply and demand curve that runs the whole thing. However, out of increased necessity and taken-for-granted Web connectivity (be sure to read past that tricky title), an individual’s or company’s ability to fill in gaps with their advantageous offerings – especially as seamlessly as those born into the Internet’s critical mass age expect – is in the spotlight more than ever before.
So, as a larger company or a one-person operation nowadays, it is more critical that you keep your reputation online rather than off, and that you keep your customers buzzing about their experiences with you. Don’t neglect using booming social media to your business’s advantage. Don’t let months pass without updating your website with fresh customer reviews showing you’re active and making customers happy every day.
After all, customers are always going to choose the best service – no matter if they’re from Generation X, Y, Z, or Q – and they’re always going to need to make purchases. What you need to assess is how you’re riding the wave, and we’re here to help.