Instead, Blockbuster paid a late fee.
They were late in acknowledging the spreading power of social networks connected to share platforms with frequent customer contact. Netflix’s more robust and networked service gave them the power to collect and crunch consumer, usage, and product data to frequently iterate and shape fresh and customized offers. Their service is delivered locally, but spread through social networks, partnerships, and word-of-mouth. With its more nuanced knowledge of customer preferences and its culture of innovation, Netflix can rapidly adapt offers to particular communities and markets.
These are classic Mesh advantages.
But the core Mesh advantage remains frequent customer contact and cleverly converting that data to delighted customers – it allows a business to continually put its brand and timely, finely tailored offers in front of people. Better yet, businesses can further shape their offers based on greater amounts of data, particularly when coordinated with partners.
Traditional businesses that sell something once, and then watch a customer walk out the door, will be at an increasing disadvantage to those able to gain the trust of customers and their friends by “listening” through multiple touchpoints and data sources.
As a result, these businesses are spreading like wildfire.
At meshing.it, we’ve identified over 2000 of them in categories including energy, food, finance, fashion, real estate, transportation, and dozens of others. Other broad B2B share platforms, such as Amazon Web Services and FedEx, are making it cheaper and easier to build businesses that can scale rapidly.
Other factors, including the recession, distrust of old brands, the increasing cost and regulation of waste, and customers’ growing comfort with mobile technology and social networks, are central to driving the Mesh. The disruptions seen for digital products like music and videos are now quickly migrating to physical goods. We are heading into a shift in our businesses and daily lives, where access trumps ownership.
In this environment, forward-thinking businesses are asking: How can we use Mesh strategies to deepen customer satisfaction and loyalty, and to enrich our brand authenticity?