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Monetizing VRM

Page history last edited by RealEstateCafe 12 years, 3 months ago

Radical idea: Would rather invest in the conversation, rather than buying clicks!


Conversations on shopper sites:




Indirect ads


Three types of user data:


Customer profile

3rd party data

     Airline, VISA, Travel


Will advertising go back into demand

VRM comes in when people display intent


Mobile is very hot right now, but will drift off in 5 years


Sites currently struggling with advertising anyway


Initial funding comes from users


For $50 per year, I get my own personal data store


Your getting coupons on your iPhone driving by


User / agent combined with a personal data store

These are the type of things I like, a lot of people on the research side love these things

Vision:  Something will deliver a savings opportunity to you because it knows you better than you do


People are leery of having their personal data store outside their control

The consumer will care less about who controls their PDS than who controls what others can see


Charles Andres:  Consumers want ability to control who gets to see what


Joyce Searls:  Consumers may delegate authorization to determine who sees what based on your privacy preferences


The WSJ article revealed how much sites already know about our behavior, and how advertisements are selected based on our online behavior, eg. ads offered by real estate newspaper


People do not see banner ads, needs to change


How will VRM fit into evolution already underway in digital advertising world


Can VRM create demand?  If you can look into a personal data store, won't vendors be able to better offer some value to them? eg. If HomeSearchIDs reveal demand, will seller's respond to unsolicited offers from homebuyers thereby increasing sales?  Will reVRM increase demand, or simply change the way demand is met?


RealEstateCafe REVERSE #MLS: Can #VRM - personalRFPs, HomeSearchIDs - increase demand, or simply change way demand is met? #VRM #vrmcrm2010 #realestate



If there is LESS advertising, what other kinds of business models are out there?


Can we make the online world more sensible?

Why are walk-in retailers increasing use of loyalty cards?

Everyone using as a competitive edge

The drug stores ARE selling data


Does the user want to sell data?


See sound clip:  5:08pm

Personal RFP:  If another homebuyer knows more about an area than #realestate agent, would U pay for their advice?



Wrap-up:  Simon discussing prevailing ad model which is moving towards costs per sale compensation model, rather than cost per click.  Because VRM enables users to express demand / intent, there's interest in applying compensation per sale rather than click. 

Also talked about PDS - personal data store and whether VRM will help create new business models.  One example mentioned was opportunity to ask other house hunters or long time local residents, who may be more knowledgeable than local real estate agents, for advice using personal RFP. 


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