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| | Enhance the value of relationships with you by enriching the value of the information that you provide.
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| | Use open and scalable systems, such as the Internet, to cheaply and widely distribute information that you hold and from which customers and other partners would add value.
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| | LEXIS/NEXIS and West Group (p. 128-129) provide examples of (www.westgroup.com) companies on the precipice of being "knocked off" by a killer app.
These two dueling legal information services-both closed systems that remain almost entirely text-based with poor search capabilities-have been so busy matching feature and function with each other, that they appear to have completely missed the killer app coming right at them: the Internet's exploding public databases and rapidly improving user interfaces. One digital strategy would call for these companies to forego charging for access, but instead provide real value by enhancing the raw material they collect with commentary, indexing, and organized notes services. They could, for example, sell their expertise on a subscription or transaction basis. The jury is still out on whether these companies will change their business models in time to survive the serious threat posed by the World Wide Web. |
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| | Visual Properties (pp. 129-130) developed a site, Apartments Plus, that enables owners to post available properties and renters to search for apartments. Visitors can conduct criteria-based searches, virtually tour apartments, and submit rental and credit applications-free of charge. The site provides over 400,000 listings in 32 states, with national coverage slated to happen in mid-1998. Revenue for the site comes from listings, advertising, links with community providers (moving & insurance), and placement deals. Visual Properties signed placement deals with AOL & AT&T in late 1997.
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| | Other company examples: Baxter Travenol (health care manufacturer, pp. 124-126), IBM (pp. 125-127), Hewlett-Packard (pp. 130-132) |