The Odysseus Medal this week goes to Kris Berg for Zillow news: Upside-down and dumb like a fox:
Transparency is not just a buzz word anymore but expected, even demanded, by the consumer. The consumer wants information, lots of it, and they want honesty and full-disclosure in its delivery.
In Zillow’s case, the consumer is both the real estate agent and the homeowner (which makes for one crazy-big target market), and Zillow needs two things to succeed. They need data, sales and “for-sale”, and they need eyeballs. You can’t have they latter without the former, but rather than build their reputation and their inventory by taking the more-traveled route, courting the big real estate brokerages, they have reached this point primarily by appealing to the individual agent. It is the individual agent who is online and socially connected – and blogging. Appealing to us makes us happy, which in turn inspires us to write nice things about Zillow.
And, instead of pushing the information to the customer, they have given them ownership. What Zillow has done is build a business model designed to work from the ground up, a MySpace for your home. Rather than cling to yesterday’s antiquated marketing practices wherein the customer was slapped silly with a message and expected to respond, they have recognized what so many are resisting. Zillow is recognizing and capitalizing on a new social culture. The conversation is no longer between the guy with something to sell and the guy who might be buying, top down, but between the buyers themselves, upside-down.
The Black Pearl Award this week goes to Krista Baker with Does Your Advertising Ask Prospects To Do Too Much?:
When you decided you may be interested in someone romantically, you don’t jump from first date to marriage. Instead, you take the time to get to know the other person – what are their likes and dislikes, strengths and weaknesses, goals and fears. If both of you value the relationship, you may consider taking the relationship a step further – to engagement and then marriage – but likely, several months (or years) have passed before the relationship progresses to this Read more