WGAN-TV: Matterport CMO Chris Bell->How Matterport will Scale Exponentially9718

Originally Posted by Home3D
"What about offering legacy MSP's the option, for a set period of time, of their choice of any of the Classic subscription plans in addition to switching to one of the new plans?"

Originally Posted by Home3D
For MP to be promising lead-time notice of changes concurrent with delivering bombshell "no advance notice" changes is a terrible precedent which MP still needs to come clean on.

Originally Posted by Garnetwest
But is it "good enough" for most folks, including realtors and the average consumer that cant tell much of a difference?

Originally Posted by Garnetwest
So I guess my questions are, is Matterport betting against the "good enough" strategy of Zillow and others? Or is it actively trying to make the platform deals with Zillow and others which are necessary to keep its superior technology relevant and in-demand?

Originally Posted by Jwbuckl
@Garnetwest Thank you for being a customer and welcome to the world of True3D!

Quote:

Originally Posted by Garnetwest
But is it "good enough" for most folks, including realtors and the average consumer that cant tell much of a difference?

When True3D tours are put up against 360 panos (Zillow, VRBO) they can immediately tell a difference and preferences always seems to point to the full tour. Your point is a fair one, however, in that most consumers have not yet seen a Matterport tour yet so they have no basis of comparison to expect more.

This does bring up a good question though, and that is Matterport best suited/targeted at either the average or the median? The average Realtor in the US is selling a home at a median home price of $226,800 according to Zillow and is looking at an agent commission of about $3,400. From this comes out all marketing and sales costs and over an average of 68 days. (local markets vary widely). The point is that there generally is not enough money in the Realtor system at the average for professional photography of any kind, including True3D. I think this is why Zillow, using the median as a target, probably started by the "good enough" and free method to cover the low through the average range of the market first. Homes move faster, there is less budget for more advanced/non-free options and the average agent can shoot the pano themselves with an iPhone or consumer 360. So to answer your question, this like is good enough for its purpose under these market conditions.

Matterport tends to thrive above the average home market where the homes become more challenging to market, stay on the market longer and benefit from the "premium experience" of True3D. Here is where we are showing in studies that using Matterport, the home sells faster (31 days) and for more money (up to 9% in some markets).

Quote:

Originally Posted by Garnetwest
So I guess my questions are, is Matterport betting against the "good enough" strategy of Zillow and others? Or is it actively trying to make the platform deals with Zillow and others which are necessary to keep its superior technology relevant and in-demand?

Yes, Matterport continues to actively pursue platform deal with Zillow, AirBnB, and others. In some cases, we are forced to take "first steps" with these platforms as we continue to drive for the ability to integrate True3D tours to their sites. A recent example of this is HomeAway/VRBO where we are enabling the upload of panos from Matterport to their platforms via API. Not in any way optimal, but the first step with a goal of progression. This is similar to what Zillow is doing. Is it good enough? Customers are saying "no", we want 3D tours and that was our hope and the hope for Zillow.

The other thing the company has actively done to combat the "good enough" syndrome is recently open up the platform to 360 cameras thanks to the development of Cortex, our AI engine, in order to make a version of True3D more approachable and affordable. We are finding that the more people play with and demonstrate the technology, the more of it is demanded and we are seeing a good many 360 users move up to the Pro2 camera. We will continue to drive more solutions to drive consumer-level ubiquity overtime at the same time improve and grow the proline of cameras.

The third and final the company has actively done to combat the "good enough" syndrome is to expand and support different verticals well beyond residential real estate where True3D is necessary to meet the requirement of good enough. Insurance, AEC and Travel and Hospitality are but a few of these verticals showing tremendous growth in recent years.

I hope this helps answer your questions, but please do come back with any other question, comments or concerns.