Marketers jump on these shifts vying for our attention aimed at ultimately “tricking us into a transaction”. The irony of this behavior is that technology will eventually turn the trick onto the markets. That will happen when we, the consumers, gain more control over how we interact with the markets. In other words all things social are bending all the old rules.
Doc Searls writes: Here in the VRM development community we’ve been talking (and in some cases working) for several years on the Personal RFP. Technically an RFP is a “buyer-initiated procurement protocol” for businesses doing business with businesses: B2B as they say. With VRM the buyer is an individual. Hence, Personal RFP. Not a great label, but one that businesses understand.
Every retailer and intermediary should be interested because the promise of the Net for buyers is not an infinite variety of closed silos, but a truly open marketplace where any buyer can do business with any seller — and on the buyer’s terms and not just the seller’s.
Like everything else we will come to depend on utterly while remaining absent in the present, VRM is thoroughly disruptive idea. It’s always smart to get ahead of the curve by getting behind what will bend it.
The VRN vision will bend all existing rules of how markets operate. Current rules reflect beliefs and behavior of a market. What can be represents how technology will “bend” both beleifs and behavior because intentions will change based on innovation fueled by new knowledge.
Innovation Bends Intentions
Intentions are threaded in conversations. Intentions motivate behavior and crowds form around conversations that have an affinity to interest. Today the marketplace looks at all this interest as a “forum” to insert advertisements aimed at catching transactions. It is an old method and is in conflict with the intentions of the “marketplace of conversations.
The evolution of technology demonstrates people’s intents and the data clearly shows that the “peoples” intent is not relevant to institutional intents. The human network demonstrates a “shift” in consumer behavior as it relates to learning, relating and subsequently conversing around an affinity of interest.
Markets operate based on rules which are used to produce results. Over time people and institutions accept the rules as is while at the same time the human network questions rules. What is becoming the new rules is buyers doing business with sellers but on buyers terms. The terms are changing to an affinity of beliefs which are reflected by actions. Terms are like rules and what was once the rules of the market will become the rules of a different market. The different market is one which is continually being empowered by the buyer rather than the seller.
When Rules Change, Markets Have To Change
Doc’s says it well “the promise of the Net for buyers is not an infinite variety of closed silos, but a truly open marketplace where any buyer can do business with any seller — and on the buyer’s terms and not just the seller’s.” Buyers are getting smarter, more connected and influenced by other buyers. Technology will continue to advance and Doc’s vision of VRM will become a reality sooner than later. Sooner when leaders of current markets recognize the power of becoming leaders of tomorrows marketplace.
Tomorrow is framed by what can’t be done today but what should be done tomorrow. Yesterday’s beliefs are the constraint to tomorrow promise. Doc’s vision of VRM changes the rules of the marketplace and that is one of the main reasons VRM hasn’t yet become reality. Notice I said yet. The human network is and always has influenced the rules. Especially when people’s behavior changes based on the influence of the crowd. The crowd is no longer the seller but the buyer and they are already well connected and playing by new rules.