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Net Worth: Shaping Markets When Customers Make the Rules Hardcover – January 14, 1999
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At the heart of Hagel and Singer's solution is the "infomediary" that sits between the customer and vendor. For the consumer, the infomediary acts as a trustworthy agent who knows the needs and habits of the client. For the vendor, the infomediary is the holy grail of consumer behavior, a marketer's dream. The infomediary brokers client information to vendors in exchange for goods and services for the consumer. The result? Happy consumers, satisfied marketers, and a very lucrative business model that awaits those entrepreneurs and companies that are bold enough to embrace the idea. The authors painstakingly outline the challenges and opportunities of developing an infomediary business and go as far as to peg the potential market cap of a dominant player at $20 billion by its fifth year of operation. While the idea of software agents is nothing new, Hagel and Singer may be breathing new life into the idea at just the right time. And even if infomediaries never arise, following the thinking of Hagel and Singer is well worth the price of admission. For marketers, managers, entrepreneurs, and just about anyone who thinks about e-commerce. Highly recommended. --Harry C. Edwards
From Publishers Weekly
Copyright 1999 Reed Business Information, Inc.
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Top Customer Reviews
Especially read this if you're a VC. Read this if you're investing in .coms...Read it and re-read it...because these guys are peering into the future and telling you something that you may not want to hear.
This is a profoundly insightful book that will be looked backed on as a turning point in the history of e-commerce.
Infomediaries will replace junk mail. They will be much more like a dating service in that they will match buyers and sellers based on what they need and have to offer. Buyers will love it because they won't get annoying irrelevant ads. Sellers will love it because they'll find customers that are easy to please because they are the right fit. Sellers can also spend their marketing budgets on other more useful things like R&D. Net Worth argues that the infomediary model will generally reduce market inefficiencies, for example informing consumers of fair market prices. The new model also eliminates the behavioral misalignment between marketers and consumers. That is, marketers want to increase repeat-business, but consumers want to increase choice. An infomediary helps marketers know what choices consumers want, and its wealth of product information maximizes the number of choices the consumer has.
Net Worth is a crystal ball that spells out how markets will shift toward infomediation. It identifies two broad categories of potential players: traditional businesses and Internet start-ups. Both categories are further refined into several types of businesses along with what benefits and disadvantages each has as an infomediary play.Read more ›
Net Worth is relevant to three very different audiences. To business leaders in perhaps fifty large and mature businesses, not yet publicly associated with innovation on the Net , it provides a detailed plan for building a $4bn turnover businesss within ten years, by dominating a new business category, that of `infomediary'. Achieving category dominance has high initial investment costs but, particularly in relation to other Net business lines, it is genuinely a category where winner takes all and with highly attractive barriers to new competitors. To database marketers, to vendors of consumer data and to CRM specialists, it sets out the very different model which the Net will create in the way consumer data are accessed, used and profitably traded. To the generalist reader of business titles it offers a clear and challenging argument as to why, to survive, most businesses will have to focus much more selectively on a much narrower section of the value chain than they currently attempt to cover.
Despite its title, I suspect that Net Worth has little to say to those whose interest in the Internet is as a tool for delivering information to consumers. Its focus is on the Internet as a tool for generating information about consumers. But do not think you couldn't profit from this book just because you are not an e-commerce specialist..
A sequel to Net Gain The authors are consultants at McKinsey & Co. For one, John Hagel, Net Worth represents the evolution of a thought process begun in Net Gain.Read more ›
Most Recent Customer Reviews
Hagel has co-authored two especially important books (with Arthur G. Armstrong III and Marc Singer, respectively) and Net Worth "which builds on a number of the themes originally... Read morePublished on March 6, 2002 by Robert Morris
The ecommerce "correction" of early 2000 forces us to re-examine the true economic value of the Internet. Growth alone can't sustain real value. Read morePublished on July 31, 2000 by E
Whatever you may think about the infomediary business model -- and I've got my own reservations -- the real value of this book lies in its approach to thinking about the challenges... Read morePublished on April 28, 2000 by Christopher Locke
This is a book which presents a vision of the future and the way business will be done. It is not a 'best practice' advice giver, but a scenario of consumerism. Read morePublished on February 12, 2000 by Naomi Moneypenny
This is a book with interesting angles, possibilities, and opportunities. Like a mirror with many faces, it's rich with informative ideas. It provides another system of thought. Read morePublished on February 12, 2000 by Thom Tu-Duc
This book describes a model for what will soon equal the recent clamor over e-commerce.
To have people offering goods and services compete for your business will make... Read more
The authors discuss a model of how increasing importance of information increases importance of "infomediaries" - companies that have the trust and info of consumers and... Read morePublished on October 25, 1999 by Anurag Gupta
This book takes the reader down a road few have traveled. (and from the looks of these reviews few will go) These authors have taken a macro-economic approace to customer service... Read morePublished on October 15, 1999 by Dog Doc