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.