Instapreneurship taps into consumers’ creativity and entrepreneurial drive while creating new business models that promote customer co-creation and business innovation
Part two in a series uncovering what makes us buy and why (aka insights into the Deep Motivators of Consumers and the Future of Consumer Marketing) See the introductory post here.
The Internet makes it easier for brands and consumers to connect and “co-create.” A number of platforms have emerged that enable aspiring entrepreneurs to design, create, develop, and sell their products, ideas, and or services. These are the so-called “Instapreneurs” who are able to create businesses and accomplish great things in (almost) an instant. It empowers creativity for consumers who most likely would have never developed their ideas into tangible offerings without these programs. Businesses are adapting to meet those creative drives, needs and concerns and creative new business models in the process.
Let’s look at some examples:
Kimberly-Clark gives $15,000 ‘Huggies MomInspired Grants’ to ‘Mompreneurs’ who are creating their own businesses so that they can build relationships with women who are innovating children’s products. The company gives these women money to fund their business, and the only thing they ask in return is to have the rights to buy their business if they decide to sell. The program received 50 millions web impressions when it went live which created incredible brand awareness. The company has received thousands of new ideas and product submissions from moms around the world.
Zazzle’s online community allows consumers to become co-designers by making custom-made bags and other merchandise. Shoppers and other co-designers can then find, vote on, and buy from other users and/or branded partners, and set licensing fees for their own designs. These consumers are able to express themselves by creating something of their own while affiliating with a specific community that delivers a sense of accomplishment and recognition.
The consumer segments that drive the Instapreneurship trend are Meaning Makers, Expressive Creatives and Value Chasers. Check out my introductory blog post for their definitions. Next week we’ll look at Social Currency, the next consumer marketing megatrend.