I’ll keep this one nice and short. In summary, I was chatting with a friend the other day and we were discussing something she’s working on and the feedback she’d received from a recent panel review of her idea. The upsum was, make sure you’re concentrating on the right people when you’re putting your idea online. Handily, she already was doing…but it’s good advice anyway.
Basically, the system being put in place here has two audiences – vendors who will list information, and users who will search and consume it. The advice, and the right way to look at such systems, is to identify where the value lies for you, and make sure that’s working correctly.
Obviously, the users who are going to search and consume the information are vital – without them, there is no reason for th vendors to list on your system at all. BUT…the users are never going to actually give you any money – we live in a world were service is free and if you charge, your users will just go somewhere else that does not. The monetisation for such a system revolves around the services you can sell into the vendors.
To clarify, all you need to be doing is making sure that your user-facing website works simply and quickly, and then worry about actually making money by bringing true innovation and value to the vendors who will ultimately populate your system. If you spend too long concentrating on the user-side, you’ll throw a lot of money at it and never see anything back, because they’ll never give you a penny.
Properly Positioning Your Proposition
Posted: 19th May 2011 by boboshady in Development, Digital Commentary, ProfessionalI’ll keep this one nice and short. In summary, I was chatting with a friend the other day and we were discussing something she’s working on and the feedback she’d received from a recent panel review of her idea. The upsum was, make sure you’re concentrating on the right people when you’re putting your idea online. Handily, she already was doing…but it’s good advice anyway.
Basically, the system being put in place here has two audiences – vendors who will list information, and users who will search and consume it. The advice, and the right way to look at such systems, is to identify where the value lies for you, and make sure that’s working correctly.
Obviously, the users who are going to search and consume the information are vital – without them, there is no reason for th vendors to list on your system at all. BUT…the users are never going to actually give you any money – we live in a world were service is free and if you charge, your users will just go somewhere else that does not. The monetisation for such a system revolves around the services you can sell into the vendors.
To clarify, all you need to be doing is making sure that your user-facing website works simply and quickly, and then worry about actually making money by bringing true innovation and value to the vendors who will ultimately populate your system. If you spend too long concentrating on the user-side, you’ll throw a lot of money at it and never see anything back, because they’ll never give you a penny.