Rodoula H. Tsiotsou and Jochen Wirtz
Michael Ehret and Jochen Wirtz
Nonownership services offer a unique value proposition by delivering benefits like transportation, manufacturing power, or accommodation without the transfer of ownership. Nonownership services enable users to reduce burdens and costs of owning assets like vehicles, machines or buildings. To date, service research has not offered a systematic approach for providers to capture value from nonownership services. In this chapter, we argue that customer engagement offers the pathway to deliver on the promises of nonownership. We show how the key customer engagement processes, resource sharing, customer knowledge sharing and customer learning contribute to the creation of nonownership value. We offer a typology of assets that empower providers to capture value from nonownership business models. We discuss research opportunities like the study of cocreation assets, strategic positioning of asset management companies and the role of trust in nonownership services. As major managerial implications, decision makers need to be aware of the irreducible uncertain character of nonownership value, the decisive role of uncertainty sharing and engagement policies, and the need for smart specialization strategies.