Follow Patagonia's lead in taming the sharing economy

If you needed to rent a band for a friend's wedding, would you rather take your chances on Craigslist, or book them through a talent agency?

Likewise, Near Me empowers entrepreneurs with a customizable marketplace solution so customers can bypass community sharing sites. Small businesses and big brands can manage all aspects of a successful peer-to-peer marketplace  as they collect data and secure brand loyalty. 

With global revenues projected to rise from $15 billion to $335 billion in 2025, entrepreneurs are investing in platforms that will drive this new business model forward in the collaborative economy.

In this economy, the business model of supply and demand gets reinvented. On top of offering a product or service, you need to consider a third player in the game--the vendor. Think of a vendor as the millions with something to sell on eBay. Although they might promise a great deal on something, how can you be sure that what you see is what you get?

Welcome to the Wild West Marketplace

With the rise of peer-to-peer marketplaces and established sharing sites such as eBay, problems occur because of several factors. Let's consider Ava: she wants to sell a pair of Nike Air Jordon's. Is the photo she posted the real thing? Since Ava isn't affiliated with Nike, she isn't bound by their standards. And why should she be? You may ask. Isn't eBay and Craigslist an open sharing community for buyers and sellers to meet under one large, digital roof?

Pitfalls to consider when doing business on one of these sites:

1. Fraud
2. Fake reviews
3. Unsure about fulfillment standards

So, you still want to be an entrepreneur in the Wild West collaborative economy? Thanks to brand innovator, Patagonia, the rough terrain has gotten a lot smoother. Patagonia partnered with eBay a few years ago to utilize this new niche. The marketplace has evolved from the company's mission to promote used gear and create less waste with clothing that lasts. Sounds like a noble mission, but for all you entrepreneurs out there, take this as a strategic maneuver that sets Patagonia apart from the rest.

What makes your product or service stand out from the crowd? Think about your customers' experience with your brand. How often do they use your service, purchase your products, or resell your products? Near Me has built-in technology that provides you with valuable analytical information. If you want to take control of your brand, follow Patagonia's trail in establishing long-term relationships with customers, and reimagine their roles as more than just a customer.

Control your Customer Experience

1. You could have a private marketplace
2. Get in on brand recognition
3. Fulfillment standards
4. Expand customer relationships
5. Data about customers

Does Nike know that 21 people bid on their Air MAX Animal which just sold for $610. 25 on eBay? Whether this data inspires a modern version of this shoe or not, it gives Nike a picture of its customers. If you haven’t already researched who you customers are, get on it! Having an accurate picture allows you to tailor marketing actions for optimal results. What if this same customer also bought a pair of Air's in 2013? Wouldn't Nike want to maintain a relationship with such as loyal customer?

Are you now ready to take the leap into peer-to-peer?

Near Me handles the IT side so you can focus on keeping your customers happy. Think about the new business model that must also attract vendors. Customers are much more than buyers now--they are integral parts of your business. Find a customizable platform that gives you the tools to manage your private marketplace, nurturing customer relationships to secure long-term growth. Before you know it, you'll be running your own business.