Last week Trovit was happy to sponsor the first Global Online Classifieds Summit held in Miami. Players from different sectors got together to discuss topics beyond verticalisation that are inherent to all classifieds industries. The attendees came from different backgrounds and interests, including specialised classifieds for property, jobs, auto, boats, fashion as well as general merchandise. Most of the companies present were from LATAM and US markets, including some European countries representatives.
The key topics revolved around data management, AI and user experience, which are applicable to different types of classifieds. It was interesting to see how a specific industry is putting their data to work and how that can be adapted to other scenes. Good use of user data and technologies such as chatbots can be just as successful for property portals as for dating sites.
It was particularly interesting to see how property and cars portals are putting different business models to work through integration of extra services -such as financing, moving services, insurance or credit check- within their scope, and thus taking control of the whole sales funnel. From Zoopla in the UK to VivaReal in Brazil, the trend to be a one-stop-shop seems to be going global. In order to provide the best 360º service for home or car shoppers, portals need to use their data smartly, and be sure to show the right offer at the right time. This is where big data and AI come into play. As David Stephenson pointed out about Belvilla.nl during his talk “Creating a competitive advantage via Big Data”, simply by interacting with a few filters, the users are telling us where and when they want to rent and how much they are willing to pay, all before even conducting the search. Now is the time to use this data to provide good value through a holistic experience for the shoppers.
Also worth mentioning is how the emerging markets are breaking through the technological gap to get closer to the more advanced markets. This applies especially to going digital, going mobile, tracking results, using data and updating business models. At Trovit we are committed to these industry standards and were happy to see the overall alignment and shared direction in the classifieds business.