Tuesday, May 30, 2006

Introduction to Rich Data

The Critical Need to Publish Rich Listing Data: Why Your Competitive Advantage Online Depends On It

With online competition heating up, consumers are finding and revisiting websites that give them what they are looking for. Traffic is becoming more expensive to generate. Your content needs to be found, it needs to hold attention, generate return visits and generate response.

There are 3 emerging trends you critically need to understand and capitalize on in order to take advantage of a changing industry. Those that understand and take action will lead. Those that do nothing, will at a minimum, leave money on the table and in the worst case, lose their livelihood.

The 3 trends are changing consumer behavior, syndication and search, and the way the Internet is changing brands. Consumers want more access to data today. They want to do their own research and become more involved in the buying and selling process. Search engines are evolving. Not only is search becoming a more important way to advertise, it is changing by focusing on vertical markets and improving they way content is indexed and represented. The Internet is creating and destroying brands. With the volume of online traffic surging, the Internet may be the most important medium to promote a brand and those that ignore it suffering. It’s not good enough to just ‘be’ there. You need to take an active role and develop an online strategy.

Rich data in real estate refers to the publishing of detailed, quality photos, property descriptions and information. The discussion I’ll have in 3 parts will explain why publishing rich data is crucial to take advantage of the 3 big trends we are facing in real estate.


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