How A Sharing Economy Can Help Your Business

I am a huge fan of sharing – whether it’s a ride share (Lyft), car rental (Turo), home (AirBnB) or delivery service (GoShare) to name a few. These services allow for an entire new economy to be built on the contributions of private individuals. In the past week I have personally used all of the companies listed above and have some key takeaways of why they deliver such a great customer experience.

  • The experience is easy to use. The companies are very clear about setting customer expectations up front and guiding them through the process so that there is no ambiguity (and less frustration).
  • Pricing is appropriate for the service and clearly communicated to the customer; and in some cases options are provided that can decrease cost. Everyone loves a deal.
  • There is ample opportunity for the customer to provide immediate feedback, either through a review system or survey. This approach allows the companies to constantly improve.
  • Instant gratification! This is a key factor to meeting basic expectations. The customer is quickly able to engage with the service which leads to higher satisfaction. And even in those circumstances where there is a delay (such as needing AirBnB host approval prior to booking) the customer is communicated to immediately by the company to let them know what to expect.
  • Standardized (yet personalized) experiences. The customer experience is standardized through the platform, but since the service is provided by real people the customer can have a unique experience every time while still ensuring overall quality.

These are my top 5 best practices that you can try in any business whether it’s 100% digital or in-person. What do you like most about the sharing economy? Get in touch and let us know!