A currency of trust
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Today’s fast paced, tech ridden world has been a game changer in the way consumers purchase. No need to stock a warehouse. No requirement to own a storefront. And, most recently, no need to own a hotel chain to boast a bed and breakfast service. In a word, four of the most innovative and highly successful ventures of our time, rely on the use of available manpower and underutilized space. Even more than that, they rely on smart marketing to encourage trust as the new currency of choice. Think travel: Where owning a car has become the bane of our existence, the cost of monthly fare, insurance, parking tickets and gas has become quite the burden on city drivers. Add the difficulty circling for an adequate parking spot, and Uber has gained unmitigated popularity in the transportation market. What does uber offer? They don’t own a fleet of cars, neither do they employ a single driver. In fact, what Uber succeeded in doing with smart branding had nothing to do with an explicit product of sorts. They pooled together available drivers, making use of vehicles that already dot the road map on a daily basis. They got the word out and a following was born. They succeeded in convincing the average rider to trust their network of transportation on a daily basis. Think concierge: For the creative spirits, or just about anyone, Airbnb provides a world of options across the globe. No need to book a boring hotel. There are options to stay in vacant celeb homes, or just one room thereof, as well as the most opulent of mansions the world over. You can snag a coveted loft in any city, stay at a beach house down south, or live on the fringe for a day or more. Airbnb may seem like an evolving hotel chain, yet, like Uber, they utilize available space for the advantage of the greater populace. Chalk it up to branding, where the right words can attract millions of guests, without even owning an extra bed. They have implemented a new norm of dorming in the home of the perfect stranger. Another way that branding draws hype based on old fashioned trust. Think media: They market themselves as the face of content. The who’s who and gossip enclave that’s known to many. Yet, Facebook provides absolutely no content whatsoever. Nada. Zilch. Nil. Get the picture? If it’s not already on your Facebook page, that is. How can a multimillion dollar company brand themselves as the hub of such sought after hype, without a word of content in the offering? On the same bandwagon as Uber for cars and Airbnb for hotels, Facebook utilizes the public as their source of content. Trendsetters, bloggers, and people like you are the only source of data on the noteworthy social media platform. And they trust the public to be privy to their daily lives. That’s a huge amount of faith in a site of random exposure. Think marketplace: You may be shocked to know that Alibaba has absolutely no inventory. Compare that fact to their sales figures which rank them as one of the most valuable online retailers, and that may seem unfathomable. What’s to gain? Smart business planning isn’t always about stockpiling products or tipping the bucket. Instead, it’s about strategic play at collaborative talent and plenty of branding. Most importantly, it’s about the new economy of trust. Well done is how you may want your steak. Well said is how you want your business. Sarah
