There are many offshoots from this question:
- with individuals (convenience, trust, ID protection) – Life context, poor people, people who work in office buildings, etc. Family CIOs.
- by geography
- by vertical sector (public and private, also membership) – Nordstrom, Trader Joe’s, customer service orgs, high-value items. Non-profit orgs, memberships, going “beyond donate” and engage, support.
- incentives (asprin or candy? Currencies – new things – personal RFPs, vs. savings – “data wombles”), Nudge (book) and regulations (blue button, green button related to energy industry)
- Savings and “new things”
Question: major financial incentives (other than VC investments)? The term VRM represents new tools and procedures. Needs to be a win for customers and vendors or it won’t work. New class of service providers, some call 4th party &/or personal cloud, that interacts with vendor cloud (3rd parties) that can facilitate purchase, flow of information, customer service, etc.
Handful of advantages of personal channel:
- trusted communications channel
- bi-directional data sharing (controlled by user)
- channel never breaks unless on purpose–continuous customer connection
Another example of parties, using car rental industry:
- Avis, Hertz, etc.
- Kayak, Expedia, Travelocity, Orbitz
- AutoSlash, RentalMagic (agents for customers)
It’s about the lifetime value of a customer — over years, they spend a great deal (both sides). Relationship vs transactional.
TheSpace.org – remarkable (24,000 albums, plus singles) record collection for fun, for culture. They’re treating visitors as personal data store-points, ethically responsible leadership. Pilot project, will evaluate in 6 months, business plan still to be created.
Still need trusted intermediaries, to create conditions in which users have trust that someone will act in your interest. It’s not about a person setting their permissions, it’s about new kinds of relationships.
Fair trade for personal data.
Relationships, not transactions.
Better results, lower costs.
Reducing the cost of being Nordstroms (et al.).
What’s Right | what’s pragmatic – different for orgs, different for individuals.