This week’s Monday Note offers data and insight about the trajectory of Google AdSense and AdWords, explaining how Google is contributing to the decline in advertising CPMs and revenues for news-based enterprises.
One notion of InfoValet is the creation of an interest-based ecosystem where you are more likely to see (perhaps at times ultimately **only** see) ads for things you have voluntarily profiled yourself as interested
in. A user-controlled system in which you can dial up or down the amount of advertising you see, how you are compensated for your attention, and whether you, at times, choose not to see ads at all. This ends the notion of “publishing” really — it’s a new world in which your InfoValet, rather than creating a mass marketplace and selling access to the bazaar, is helping you to find and “speak” directly with the vendor at his place of business. The InfoValet gets a commission for making the connection and the vendor gets the sale, or at least the user’s attention.
In such a network, the notions of advertising and news are remixed. If you find your way to a Ford Motor site, and Ford pays you 50 cents (directly or via your InfoValet) because you downloaded a brochure about a new hybrid Ford; or you find your way to Consumer Reports, and **you pay** to download a report on that hybrid Ford; what is the functional difference? Each represents a value exchange. The system must enable both. The integrity and ethics of these exchanges will be mediated by folks such as Newstrust.net, and perhaps by the system participants. This is why we need to teach news/media literacy in schools, and elsewhere.
Can news organizations figure out a way to increase the value they receive for journalism on the World Wide Web? McGraw Milhaven, talkmaster on KTRS Radio in St. Louis, interviews Bill Densmore of the Information Valet Project. Densmore is a 2008-2009 Donald W. Reynolds Journalism Institute fellow at the Missouri School of Journalism in Columbia, Mo. Listen to a 25-minute excerpt, followed by three minutes of Milhaven talking with a caller. JUMP PAGE TO AUDIO STREAM (28.37 mins., 6.87 MB downoad.)
After framing the issues in the first hour, participants in “Blueprinting the Information Valet Economy” seek in discussion to reach consensus on what problem will be solved by the Information Valet Service, its key values to consumers and how it might be owned and organization. Conversation took place Thurs., Dec.3 at the Donald W. Reynolds Journalism Institute, Missouri School of Journalism, Columbia, Mo.
Vodpod videos no longer available.
Participants craft a development plan for the InfoValet Service during “Blueprinting the Information Valet Economy” summit at the Donald W. Reynolds Journalism Institute, Missouri School of Journalism, Columbia, Mo. This segment occurred Friday morning, Dec. 5, 2008 in the Smith Forum. Details: http://www.ivpblueprint.org
Vodpod videos no longer available.
Business strategist Tom Malone and ABCNews.com columnist Michael S. Malone co-authored a piece on the Nov. 29 op/ed page of the Wall Street Journal, “Marketing in the World of the Web.” They assert there are five “Marketing 3.0” concepts that are upending the business of advertising and customer service. They are: From loyalty to attention, from crowds to clouds, from places to spaces, from memes to bemes and from silos to simultaneity. All five are food for discussion during “Blueprint.” The most relevant may be “from loyalty to attention.”
“Before you can win consumer loyalty, you have to capture and reward consumer attention,” the authors write, adding: “The shrewd brands will create elaborate attention rewards programs, and incentives that break through the noise and make that critical initial connection.”
So an important objective of the Information Valet Service may be to provide a platform for advertisers and publishers of sponsored content to be able to reward an individual consumer for their attention.