Should you base your business model on trust?

AirBnB, BlaBlaCar, Leboncoin… These companies went on trust and started based on the trust of the users among themselves. These simply remove the intermediaries between the consumer and the service provided, allowing people they do not know to interact directly. What if you were like them?

We find that 49% of French people rely on the sale or purchase of goods between individuals and 59% of them rely on this practice, according to a survey by the Cetelem Consumer Observatory. Consumers therefore seem to organize themselves among themselves and some companies are able to turn this phenomenon to their advantage.

Questioning trust as a baseline

When we talk about power, it must be emphasized that the trust that people place in those who lead them has always proved essential. The reassuring speeches of the leaders of countries, such as the use of propaganda, are intended to maintain the credibility of the powerful in the eyes of the population, who, if they withdraw their support, can go so far as to behead them. .

The same goes for the sector of the economy: buyers only invest in goods that the companies have their confidence in. Moreover, advertising is only effective because it is based on the consumer’s belief that this object will indeed revolutionize his life and possess the advanced features.

Trust has been undermined in recent years. Successive cases of corruption and scams in all areas have seriously cooled buyers and voters, who are more willing to move to other solutions. Large companies suffer from this effect.

Several entrepreneurs have noticed this phenomenon with keen eyes, have devised business models based on this observation and success seems to be there.

Economy of trust, sharing or collaboration?

Theoretical by Eloi Laurent, theeconomy of trust refers to this need for buyers to transact among themselves and to rely as little as possible on third parties. Individuals have developed a certain distrust, especially towards large groups, and are making more use of C2C: customer-to-customer, consumer-to-consumer service.

l’economy of trust actually refers to different economic models such as the sharing economy or the sharing economy. These take the form of carpooling, bartering, purchasing or even exchanging apartments, always between consumers. The company only intervenes to provide a contact between the two parties. The sharing economy, on the other hand, consists of building goods together so that the actors can benefit from them. For example, it could be to share the price of a long journey. Some communities develop free software for this.

on his side, sharing economy, if it looks a lot like the sharing economy, it still yields more profit. This also focuses on the production of services for several, with the majority of the profits paid to the company. The collaborative model is more responsive to the sharing economy itself, as it is still in the services realm. You should know that the network company withdraws a percentage on the productions. For example, the carpool platform BlaBlaCar offers individuals to sell the remaining seats in their car to other individuals for long journeys and the site takes a certain amount of the transactions carried out.

Digitization and service, niches to be taken

In a society where customers seem wary of big business, they are not about to disappear. The service sector is experiencing a real revival thanks to the many applications thriving on both sides. Digital poses a real challenge to tomorrow’s societies: individuals certainly get by among themselves, but their exchanges take place mainly thanks to digital platforms offered by companies.

For example, Leboncoin or La Centrale are not known for their offering of physical and material services. They are that more for their site which offers millions of second hand items and allows them to quickly contact their owners to buy directly from them. Digital platforms and connection applications provide a realistic study perspective for entrepreneurs who want to get started. Several service providers have also been able to integrate into companies such as AirBnB, a platform for exchanging apartments between individuals. There are several ways to join a successful digital platform phenomenon: for example through a partnership or by offering complementary services.

Some examples of companies with a trust economy

The companies discussed in this article drive the trust economy in different ways. The sharing economy is profitable and is interesting for young entrepreneurs looking for success. BlaBlaCar offers a carpool service to internet users who share the price of long distance rides is proof of this. If this approach appears to be part of the sharing economy, it should be borne in mind that the platform will take some of the profits to further develop its data and information systems.

AirBnB works in a similar way: tenants of rental apartments keep their ownership and a large part of the amounts paid goes directly to the platform.

Similarly, the famous American company Uber lets individuals improvise themselves as drivers to help others through an application that makes a profit on every ride.

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