Orangeville, ON (James Doan) In discussions with industry leaders like Seth Godin and Clay Hebert (among many others), it has become clear that we are in a Connection Economy. The connection economy rewards value created by building relationships and creating connections, rather than building assets by industrialism. This means the most valuable companies will connect buyer to seller, or consumer to content. If you don’t buy that argument, consider these facts:
– Uber is the largest “taxi” company – yet they own no vehicles and excel at connecting riders with drivers.
– AirBnB is the largest provider of accommodations – yet they own no real estate.
– Facebook is the largest media company – yet they create no content.
– Crowdfunding businesses like Kickstarter and IndiGoGo are expected to surpass venture capital for funding – yet they have no funds to invest.
Whereas it used to be sufficient to sell a product and receive revenues, customers now seek to connect with other like-minded individuals to get the most value in the long run. The most successful conferences build communities that survive much longer than the event itself. If you want to build something that stands the test of time, you’ll connect your customers to each other and to valuable resources that extend beyond the sale.