Businesses are increasingly looking to their customers as a creative source for design and idea generation.  As our client work at GSG continues to help clients innovate  to grow new revenue, the process of “co-creation” can deliver tangible benefits for a brand savvy organisation; allowing concepts to be tested, communities to be forged and access to a bank of creative, independent minds.  

There is, though, a growing group of companies that have taken the customer’s involvement one step further.   Instead of the consumer simply consuming, they actively participate in the fundamental running of the business by supplying, selling or servicing other customers.  Of course, “sellsumers” of this type are not new, eBay being a prime example of a business model dependant on the interaction and transactions of its independent buyers and sellers.  But the concept of “peer to peer” business interactions, facilitated by digital platforms, is extending to new markets and new concepts (from car parking to business loans, gift cards to TVs) to meet the unmet demands of customers that are progressively looking online to source hard-to-find products / services, or to simply grab a bargain.  “Sellsumer” concepts equally fulfil the needs of the sellers themselves; by tapping into the basic human desire of being one’s own boss, satisfying an entrepreneurial sprit or making a quick buck on the side.   The latter, fuelled by the GFC has arguably been the most pertinent factor in the growth of these business, where helping customers to make money (and not just spend it) by using the assets they already own, is the source of their own revenue.  

Here, we look at five innovative examples of peer-to-peer businesses from Australia and around the world.  Each have successfully transformed an unmet customer need to a business opportunity and in doing so, have put the consumer at the heart of their business model:    

 

ParkAtMyHouse (http://au.parkatmyhouse.com)

 

One of the most established P2P businesses, ParkATMyHouse provides “a matchmaking service for parking”, enabling property-owners to rent out their empty driveways, garages, car parks etc to drivers needing somewhere to park.

 

DriveMyCar (www.drivemycarrentals.com.au)

 

Recently arrived in Australia, DriveMyCar is an online rental marketplace that facilitates private car rentals.  For a fee, a car owner can list their car and make it available for rental.  Renters join for free but must provide a profile of their driving history, which the car owner can view and use to accept or reject the request for rental.  If accepted, DriveMyCar automatically produces a lease agreement and covers the neccessary insurance.

 

Funding Circle (www.fundingcircle.com)

 

Self-termed “lending community”, Funding Circle provides a platform where “ordinary people can lend directly to small businesses in the UK”.  By sidestepping the banks, Funding Circle aims to offer lenders above market rates of interest, while businesses, who are screened for credit worthiness, avoid costly admin fees.    The rate of return for loans is set by a reverse auction, and the system facilitates the trading of loans between lenders.  

 

GiftCard Rescue (http://www.giftcardrescue.com/)

 

GiftCardRescue provides an exchange service for unwanted giftcards.  Based on the redemption value of the card, the site sets a price at which the giftcard will be bought (for cash) or swapped for another store’s card.  The site then resells the unwanted cards for up to 30% of their face value to those customers looking for a giftcard bargain.

 

NeighbourGoods  http://www.neighborgoods.net/

 

US online community site helps tools, boats, electronics and a host of other items to be lent, borrowed, sold or bought.  The site helps facilitate transactions with a reservation calendar, automated reminders, wishlist alerts, private messaging between site members, and item tracking.