Comments on: The buyer’s envelope, please http://blogs.law.harvard.edu/vrm/2008/08/26/toward-a-buy-side-solution-to-mwgp-or-so/ Developing tools for customer independence and engagement with vendors Sun, 29 Nov 2009 13:12:02 -0500 http://wordpress.org/?v=2.8.4 hourly 1 By: Cam http://blogs.law.harvard.edu/vrm/2008/08/26/toward-a-buy-side-solution-to-mwgp-or-so/comment-page-1/#comment-4446 Cam Wed, 29 Oct 2008 13:43:34 +0000 http://blogs.law.harvard.edu/vrm/?p=58#comment-4446 Product recommendations from the reduce or eliminate the bias that a "tool" can introduce in the interest of affiliate revenues. The focus of http://www.giftag.com is to provide a retail-neutral product selection/listing/registry vehicle. It was created by some smart people at Best Buy but with transparent and customer-centric intentions. Product recommendations from the reduce or eliminate the bias that a “tool” can introduce in the interest of affiliate revenues.

The focus of http://www.giftag.com is to provide a retail-neutral product selection/listing/registry vehicle. It was created by some smart people at Best Buy but with transparent and customer-centric intentions.

]]> By: Retailers have improved the online shopping experience as far as they can « The Bankwatch http://blogs.law.harvard.edu/vrm/2008/08/26/toward-a-buy-side-solution-to-mwgp-or-so/comment-page-1/#comment-4016 Retailers have improved the online shopping experience as far as they can « The Bankwatch Thu, 11 Sep 2008 05:03:02 +0000 http://blogs.law.harvard.edu/vrm/?p=58#comment-4016 [...] The buyer’s envelope, please In the meantime, consider this thesis: Amazon and other excellent online retailers have improved the online shopping experience as far as a retailer can. Yes, there is always room for improvement, but there is only so much improvement you can carry out only on the sell side, even if you’re equipping buyers to do a better and better job. At a certain point the improvements need to happen on the buy side. You need better buyers, not just better sellers. You need to improve the tools available to buyers — tools that help buyers with all sellers, and not just within each seller’s walled garden or silo. [...] [...] The buyer’s envelope, please In the meantime, consider this thesis: Amazon and other excellent online retailers have improved the online shopping experience as far as a retailer can. Yes, there is always room for improvement, but there is only so much improvement you can carry out only on the sell side, even if you’re equipping buyers to do a better and better job. At a certain point the improvements need to happen on the buy side. You need better buyers, not just better sellers. You need to improve the tools available to buyers — tools that help buyers with all sellers, and not just within each seller’s walled garden or silo. [...]

]]> By: Alan Mitchell http://blogs.law.harvard.edu/vrm/2008/08/26/toward-a-buy-side-solution-to-mwgp-or-so/comment-page-1/#comment-4012 Alan Mitchell Mon, 08 Sep 2008 08:41:45 +0000 http://blogs.law.harvard.edu/vrm/?p=58#comment-4012 Hi Doc, As you know, Iain Henderson and I have been talking about Added Value Buying Services for a few years now (http://rightsideup.net/AVBS.htm). To work, they need to combine many currently separate 'silos' into one seamlessly integrated service: search, price and production comparison, peer reviews, independent expert assessments, advice etc, all underpinned by transparency of economic incentives. The core insight is that for 'the consumer' a better decision is more valuable than 'a better product', because a better decision (impartail, comprehensive, trustworthy information that's easy to access and use) leads you to a better product anyway. This means the high point of value is migrating beyond products and services to personal information/decision-making services. You are absolutely right. Today's online retail is just three seconds passed the big bang. But also, Added Value Buying Services take us past VRM as most people are talking about it now! Hi Doc, As you know, Iain Henderson and I have been talking about Added Value Buying Services for a few years now (http://rightsideup.net/AVBS.htm). To work, they need to combine many currently separate ’silos’ into one seamlessly integrated service: search, price and production comparison, peer reviews, independent expert assessments, advice etc, all underpinned by transparency of economic incentives. The core insight is that for ‘the consumer’ a better decision is more valuable than ‘a better product’, because a better decision (impartail, comprehensive, trustworthy information that’s easy to access and use) leads you to a better product anyway. This means the high point of value is migrating beyond products and services to personal information/decision-making services.

You are absolutely right. Today’s online retail is just three seconds passed the big bang. But also, Added Value Buying Services take us past VRM as most people are talking about it now!

]]> By: DaveOlson.ca Collaboration Cafe Style! — DaveOlson.ca http://blogs.law.harvard.edu/vrm/2008/08/26/toward-a-buy-side-solution-to-mwgp-or-so/comment-page-1/#comment-3999 DaveOlson.ca Collaboration Cafe Style! — DaveOlson.ca Sat, 30 Aug 2008 04:59:22 +0000 http://blogs.law.harvard.edu/vrm/?p=58#comment-3999 [...] people don’t like carrying another card“, he slams my theories again. [...] [...] people don’t like carrying another card“, he slams my theories again. [...]

]]> By: Gregory Y http://blogs.law.harvard.edu/vrm/2008/08/26/toward-a-buy-side-solution-to-mwgp-or-so/comment-page-1/#comment-3992 Gregory Y Wed, 27 Aug 2008 04:48:37 +0000 http://blogs.law.harvard.edu/vrm/?p=58#comment-3992 There is a number of attempts to do just that, but so far nobody succeed in earning any money of these attempts, as far as I know. It cannot work without economics in place, somebody has to pay for service to exist. There is a number of attempts to do just that, but so far nobody succeed in earning any money of these attempts, as far as I know. It cannot work without economics in place, somebody has to pay for service to exist.

]]> By: Mikhail Seregine http://blogs.law.harvard.edu/vrm/2008/08/26/toward-a-buy-side-solution-to-mwgp-or-so/comment-page-1/#comment-3990 Mikhail Seregine Wed, 27 Aug 2008 01:09:18 +0000 http://blogs.law.harvard.edu/vrm/?p=58#comment-3990 You propose "purchasing guidance that’s uncontaminated by bias toward one kickback system over another." We've been experimenting with such a service: at SaneShopping you can ask for arbitrary shopping advice in plain English and we promise to respond within a day. Behind the scenes, we orchestrate human and automated research to produce useful recommendations. We've experimented with affiliate programs like Amazon's (always keeping them separate from the recommendation process itself). Much of the time, we find ourselves in the situation you describe: recommending a product that our customer finds useful, but not making any affiliate revenue for the referral. You propose “purchasing guidance that’s uncontaminated by bias toward one kickback system over another.” We’ve been experimenting with such a service: at SaneShopping you can ask for arbitrary shopping advice in plain English and we promise to respond within a day. Behind the scenes, we orchestrate human and automated research to produce useful recommendations.

We’ve experimented with affiliate programs like Amazon’s (always keeping them separate from the recommendation process itself). Much of the time, we find ourselves in the situation you describe: recommending a product that our customer finds useful, but not making any affiliate revenue for the referral.

]]> By: Doc Searls Weblog · Putting the buyer in charge http://blogs.law.harvard.edu/vrm/2008/08/26/toward-a-buy-side-solution-to-mwgp-or-so/comment-page-1/#comment-3988 Doc Searls Weblog · Putting the buyer in charge Tue, 26 Aug 2008 23:41:45 +0000 http://blogs.law.harvard.edu/vrm/?p=58#comment-3988 [...] Buyer’s Envelope, Please is a post over at the VRM blog in which I do some thinking out loud about a topic I’m still [...] [...] Buyer’s Envelope, Please is a post over at the VRM blog in which I do some thinking out loud about a topic I’m still [...]

]]> By: alan p http://blogs.law.harvard.edu/vrm/2008/08/26/toward-a-buy-side-solution-to-mwgp-or-so/comment-page-1/#comment-3984 alan p Tue, 26 Aug 2008 17:42:43 +0000 http://blogs.law.harvard.edu/vrm/?p=58#comment-3984 Doc, kickback subsidies are an inevitable part of a "FreeConomic" model - much loved by such reputable industries as consumer financial services for example :). The issue with it is that over time it runs into Akerlof's "law of lemons", ie because you can no longer tell good from bad via pricing (free), bad sellers drive out good and total value in the market declines. In this case, the only way the customer can retain some visibility of quality is to pay for advice in one way or another so that quality players are again rewarded for entering the market. Doc, kickback subsidies are an inevitable part of a “FreeConomic” model – much loved by such reputable industries as consumer financial services for example :) .

The issue with it is that over time it runs into Akerlof’s “law of lemons”, ie because you can no longer tell good from bad via pricing (free), bad sellers drive out good and total value in the market declines.

In this case, the only way the customer can retain some visibility of quality is to pay for advice in one way or another so that quality players are again rewarded for entering the market.

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