Pandora Product Lead on Building Digital Marketing Products (Part 3)
In digital marketing, you must understand that people are the product. Directly monetizing your own time and attention allows you to be the beneficiary rather than the target of personalization. For example, you can actually get your money back and get a reward for it – such as access to premium content. Moreover, people will gain a sense of being in control rather than being a victim of all of this stuff that is going on.
Benefits for Users:
- Be the beneficiary rather than the target of an ad
- Gain access to premium content
- More control of how you’re targeted
- Accept personalized paid offers
Benefits for Advertisers:
- Better Targeting
- Higher ROI
- Less Fraud
Scaling Deep Value Advertising
For an idea like this to really work at scale, we would need a massive network and a massive set of collaborators that were all participating. The other key thing here is that we need to be able to have that ledger of credits, debits, microtransactions and the ability to do that at scale.
Fluence, a startup that I founded with a friend, explores this micro gig economy in greater detail. With fluence what you can do is send anyone a video or a track and then ask them to review it, ask them to do some questions, and give them feedback. You’re basically paying for them to do just that.
Simply put, the demand for these products is high. The idea that as a startup or someone building products, you have the ability to bring on a workforce on-demand at scale. From there, you can then choose to shut it down on-demand at scale – as you might do with a cloud server.
What we are getting at is leveraging this massive untapped talent that we have. All the people with free time. Allowing them to do something productive with that. We will all need something good to do. And maybe there is a really exciting opportunity for people to collaborate and help each other out more effectively to make that happen.
- Traditional marketing methods and digital advertising are not sufficient.
- Instead of paying ad networks you can target people to do stuff in real life using your phone such as trying out your products. Offer them rewards and incentives to do it.
- The ability for us all to directly monetize our time and attention is going to be of a great benefit to everyone.
About the speaker
William White is a product leader at Pandora - managing the company’s content licensing and royalty systems. Prior to joining Pandora, William was the Co-Founder of Fluence Inc. - enabling content creators to receive feedback from their target influencers. In addition, William has worked on product teams at Yahoo, AOL and Slacker Radio. William is a graduate of McGill University and currently lives in the Bay Area.