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Monetizing VRM

Page history last edited by RealEstateCafe 9 years, 10 months ago

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

 

Conversations on shopper sites:

Shopatron.com

Groupon.com

 

Indirect ads

 

Three types of user data:

Behavior

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

http://twitter.com/RealEstateCafe/statuses/22208565883

 

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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