A transformation in the market place is being driven by four major trends; transparency of data, real-time synchronization of data, responsive optimization, and digital platforms (social and analytical tools).

1. The Economy of One:The consumer as producer, influencer and purchaser
Written by Dan Israel, Strategy Lead, Mobile Center of Excellence, Atlanta
& Perry Chan, Creative Director, Experience Innovation, New York
In the past, businesses centrally controlled the
brand message and the customer experience.
But a transformation is now taking place in the
marketplace driven by four major trends: transparency,
synchronization, optimization and the rise of digital
platforms. These result in, we believe, a new type of
economy: The Economy of One. This new economy
operates by very different rules — an increasingly active,
enabled consumer, and a higher level of expectation in
the role of brands and the tools they provide.
Trend 1:
Radical Transparency of Data
The ability for consumers
to discover, combine
and recombine data with
or without the brand’s
consent has resulted in
transparent access to
data. This is leading to
disruptive innovation across
industries; entire value
chains are being revealed
and rearranged.
Example: The music industry
struggles as consumers
discover and share music
socially and in “bite-sized,”
single tracks. Transparency
is enabling bands and venues
to set pricing and availability
directly.
Trend 2:
Real-time Synchronization
Consumer behavior has
changed. Customers
now conduct “bite-sized”
engagements that start on
one touchpoint, continue
on another and may end
somewhere else. Implicit
in this customer journey is
the need for all data to be
synchronized in real time.
Brands that create cloud-
based solutions for these
new customer journeys
will have an advantage over
others.
Example: The Amazon
Kindle uses cloud-based
data, allowing users to switch
between mobile, tablet and
PC platforms, while being
updated in real time to the
current page or author
highlights.
Trend 3:
Responsive Optimization
Along with real-time
synchronization comes an
expectation for data to be
rendered appropriately on
any and every touchpoint
where interaction
occurs. But delivering
this experience is quite
challenging; thousands
of content elements must
be optimized for context,
screen size and device type.
Example: Many media firms
leverage responsive design
techniques and built-in apps
to deliver richer experiences
on different touchpoints.
ABC News, The Wall Street
Journal, The New York Times
and many others optimize
their tablet experiences to
include video, while their
smartphone experiences
remain more text focused.
Trend 4:
Digital Platforms
Digital platforms are
everywhere. And with
social tools, analytics, low
cost and a high degree
of scalability, these
platforms now drive new
consumer behavior—
competition through social
reputation, disruption
and disintermediation
of traditional players,
and simple tools to find,
evaluate and sell products.
Example: eBay’s storefront,
Etsy and Airbnb are all
leading this trend. Airbnb is
particularly strong, based
on their passionate user
base and quality of the user
experience. Their platform
offers a breadth of services: a
personalized calendar, social
platform, massive scale and
full financial integration.
Responsive
Optimization
Real-time
Synchronization
Radical
Transparency
of Data
Digital
Platforms
Online
Exclusi
ve
Content

2. Implications
• Consider rolling out products and services that provide
new transparency and access between customers,
as well as to customers
• Implement cloud-based storage and synchronization
of data across touchpoints
• Reshape your product or services to accommodate
“bite-sized” engagements through multiple touchpoints
• Consider partnering and amplifying the voices of
your best customers (e.g., Vail’s EpicMix)
• Leverage responsive design or other techniques to
offer your products through all your customers’
preferred touchpoints
Introducing the Economy of One
Contribute
Let me contribute more than just reviews
and comments
• Let me analyze, organize and manipulate
information about me, your brand, your
product, your service and more
• Help me understand who is my most
important customer
Share
Enhance our networks together
• Make me look smart and make
me look relevant to my networks
• Make me feel included
Extend
Nurture our relationship beyond
selling to me
• Let me engage on my terms
• Let me pick up the experience where
I left off, be it on a PC, mobile device,
tablet or other emerging device
• Enable me to communicate with my
best customers
• Help me connect with other influencers
Discover
Make my life easier, better and simpler
• Anticipate what I want
• Provide tools to let other people discover my content
• Enable me to (re)combine existing products
• Let me share my content to accelerate discovery
Consider
Shape the experience around me, not you
• Acknowledge and act on the feedback of
me and my network
• Let me influence those considering my products
• Deliver a relevant experience and information at
the right time in the right context
• Empower associates so they can better assist me
Purchase
Offer me everything I am entitled to—the best
prices, terms and points
• Make it easy for me to buy, re-order and ship
• Integrate my financial life and be cognizant of my
purchasing ability
• Let me sell my stuff without massive fees
and expenses
• Let me optimize the purchase through any device
for my customers
Characteristics of the Economy of One:
• It refers to the consumer who is empowered as a producer, influencer and a purchaser.
• Customers operate in a multi-touchpoint world, often beginning with the smartphone. The consumer has a greater impact on a
brand than just the initial action of buying a product or service.
• Never before have consumers been able to generate a “network effect” as they can today - now, consumers can reach a huge
audience with lightening-like speed and impact brands, either positively or negatively.
• Consumer behavior has shifted to “bite-sized” engagements on multiple touchpoints. These touchpoints often become the
primary mechanism of interaction in the long-term relationship with the brand..
The
Economy
of One
Customer
Journey
Responsive
Optimization
Radical
Transparency
of Data
Digital
Platforms
Real-time
Synchronization