How to make Money Advertising for Companies OnlineGetting Money Advertising for Businesses Online
Suppose the companies that benefit from your information had to charge you?
There are many organizations that make money using your information when it comes to protecting your personal information - Google and Facebook are just two of them. What if you were the one who made the money? If the organizations that benefit from your information had to give you part of that income, what would happen?
US writer and legal scholar Eric Posner says that creating information is work and points out that in the biggest tech companies the proportion of revenue that goes into work is only about 5-15%. This is far below the estimate 80% Walmart would pay for work, for example. So, if you agree with Posner's hypothesis that information is work, then companies that make money selling your information get basically free work.
It is not only your own private information that they use. It' s also the many working hours needed to produce online community experiences - and the amount of time we have spent watching and reacting to others' work. Although the PII industries generate approximately $200 billion in revenues each year, PII vendors receive little or no money back from PIIs.
It has to be admitted that the evaluation of person-related information is not simple. Take Facebook, for example. Imagine this number as the amount your Facebook information is valuable. Because of its large scale, Facebook could still make money from advertising - just like any other place in the world - even without using your information to reach you with advertisements.
However, it is targeted that is helping Facebook dominating the online advertising world. In fact, concern about Facebook's continued capability to use personally identifiable information is likely to have fuelled the recent decline in Facebook's stock prices. Combining your Facebook information with the remainder of your online Ecological Footprint, a few estimates that an average US user could account for up to $240 a year.
That our files can make us money. Research companies have been costing humans money for their information for years. So, if some companies already pay for personally identifiable information, why doesn't everyone pay for it? Firstly, our information is scattered, fragmentary and unavailable. Persons who use ad blocking, "do not track" tracking utilities, and high levels of privacy preferences affect the accuracy of the information that can be collected about them.
Thus each enterprise with which they interoperate has only a small part of its own information, which can result in mistakes in targeted advertising. is when your information comes directly from you. Secondly, unlike other properties, it is challenging for an individual to act on information. Unless information can be readily resold at the owner's request, it is challenging to gain value from it.
Enterprises like the UK start-up company digital.me allow end-consumers to upload and save their information in a central application where they have complete command over it. Others, such as European Union-based Wibson, Singapore Non-Profit Ocean and the US start-up Datacoup, are promising consumers the opportunity to exchange their information with interested buyers for money or loans.
Putting control over information back into the ownership of the individuals who own it is a deeply rooted part of the "Internet of Me" notion. Although still small, these start-ups are an important move to correct the current level of exploitative behavior in the personally identifiable information industry. Better information should allow more focused advertising, better loan evaluation, better research of the consumer electronics sector, important education of AI and even more individualised healthcare.
After all, we may have a more equitable choice when it comes to handling our digitised information.