Facing a tough economy, Eric Schmidt, Google Executive Chairman said, “More revenue solves all known problems.”
If we take the view that “more is better” – why shouldn’t that also be true for privacy? And the two ideas – more revenue and more privacy – do not have to be mutually exclusive.
Today there is a certain financial incentive to keep user’s data safe. As we’ve seen too many times lately, security breaches can upset customers and get your CEO fired. But other than that, the market delivers only a slap on the wrist and no significant revenue damage.
That is the proverbial stick.
But about the carrot?
What if, the more you keep a user’s data private, the more money you make? What if there was a way to make more money from users’ data without reselling or sharing it? What if there was a way to help your customers understand themselves though their data. To help your customers get better recommendations. And all without storing the user’s data in the cloud?
It’s possible. Any business can still deliver targeted, data-driven marketing to their customers and prospects. It is done by basically giving the user his or her own advertising service.
We move advertising from the cloud to the user’s device – where data stays safe and sound while still attracting relevant ads and offers that work.
It’s possible to move beyond the (educated) guessing of what an user might be interested in to a world in which the users can frankly disclose their interests—all within the confined space of their device. Customers can learn to use their device without fear and inhibitions because only their device knows. No one tracking your behavior, no one following your location. Your device serves as a discreet, efficient assistant.
It would be like talking with your doctor or attorney. When I go to my doctor or attorney I don’t avoid talking about my real problems and needs, because they truly can help me, they protect my privacy, and they have a lot to lose if they don’t.
Imagine that your bank can push your latest shopping data to your device, your device will learn from that data, and then give you recommendations. Imagine that the bank will make a cut of the profit we can deliver to the user. Would the bank be interested to share that data with anyone?
Imagine you can make money by not having your users’ data in the first place. Any data you have is released to the user signed by your certificate, and as long as that data delivers value to the user, you get a cut of the advertising profit.
Imagine that, instead of reselling or sharing your user data with other companies, you keep it all to yourself, and only share it with your customer. In a sense, you have a monopoly on your user’s data. Why would you want to share that data if it would dilute your revenue?
Imagine entering a store that does not track your location nor require you to log in or give personal information just to recommend products or deals to you. Instead, the store would offer its products over WIFI (and their physical location in the store), and your device will recommend products based on your interests without requiring data input. Your device would help you find an item without telling the cloud where you are because your device has your profile and the map of the store. Why would the store ever want to get in the messy and expensive business of gathering , securing, and analyzing your data just to deliver recommendations from your information?
Imagine that the Cell Tower or the WIFI router will give you News, Weather, Products, Business listings and Ads for your location. They don’t need to disclose your location and they can act as distributors of local data, and your device would not need to connect nor disclose to a centralized cloud your profile. Imagine, the Cell Tower and WIFI router owner would make a cut of the advertising profit too. Wouldn’t they have a financial incentive to keep secret your location?
Ads will stop being “advertisement” and transform into a valuable service for the user, a way to connect them with relevant businesses and products of interest.
The users might actually want to click that Ad. That ad will be the result of the insight into their motivations and behavior; not the sometimes creepy surveillance of various actors into their private world.
Imagine the perfect marriage between Privacy, Security, Convenience and Revenue.
Imagine someone builds that.
You don’t have to imagine anymore, because we are actually building it.