Rightmove named the most innovative company in the world

Rightmove has been named the most innovative growth company in the world by influential Forbes, for the second year running.

This year’s list gives Rightmove an “innovation premium” of 91.4%.

Rightmove comes ahead of US portal giant Zillow, which makes 14th place, and the Australian portal company REA.

Other well-known companies in the list include TripAdvisor, Procter & Gamble, and Domino’s Pizza.

In an accompanying article explaining Rightmove’s supremacy in the list, writers Hal Gregersen and Jeff Dyer quote Rightmove CEO Peter Brooks-Johnson as saying that the key to the company’s growth is the “network effect”.

This is the phenomenon by which a network becomes more valuable to its users with each user it gains.

Brooks-Smith also says that the culture of Rightmove is to be both “restless and focused”.

He goes on to explain that the “focus” part is that “we know what we do, and we don’t go chasing other dreams”.

The “restless” part is that “we’re always on a journey to be better”.

The article says that Rightmove constantly expands its offerings: “Every year has brought increases in its average revenue per advertiser as it expands the repertoire of advertising products and packages available to customers to increase their brand exposure.”

Modestly, Rightmove told EYE it would not be commenting.

14 Comments

  1. Simon Bradbury

    That is VERY impressive!!

    Congratulations to everyone at Rightmove.

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  2. Ric

    “In an accompanying article explaining Rightmove’s supremacy in the list, writers Hal Gregersen and Jeff Dyer quote Rightmove CEO Peter Brooks-Johnson as saying that the key to the company’s growth is the “network effect”.

    Network effect = The effect of fear spread throughout the network of UK estate agents, resulting in the thought process they [UK estate agents] could not survive without Rightmove” The “fear effect” may not have sounded as good as the “network effect”

    He could have said “the key to the company’s growth is the continued support from the UK’s estate agents, who make our website worth visiting”

    Oh well…… it is, what it is.

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    1. Bless You

      We all had a choice 2 years ago with onthemarket to kill the corporates and stop the fake online model….. and we bottled it. 
      Rightmove hardly innovative is it?  Only just got some pie charts on intel last year..

      Ironic that countrywide, connells and your move created rightmove and set fire to their own businesses 15 years later…it took a while but still a mistake. 

       

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      1. Ric

        Indeed we did have that choice Bless You and we did (not all) but in the main we did bottled it.
        Now we must all be thankful for Rightmove and congratulate them on getting to where they are today – I have enjoyed paying them to be their shelf filler and being a part of the “network effect” Especially as they often publicise how grateful they are to me, us, you when boasting of their success.  
        Anyway, off on a busy day of appointments for Rightmove.

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      2. AgentV

        OTM isn’t finished yet…..it’s still early days. But they do need to ‘come out’, start saying something and inspire new confidence and a better strategy for the way forward. Why aren’t they doing this?

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        1. Bless You

          Are they saving their money for legal fees?  
          They need to let countrywide, connells and your move invest like they did with rightmove and only let agents who offer a no sale no fee on the platform..  (its  a numbers game not a niche elitist london game) 
          i dont mind online only as an  industry,  its the pay anyway part that  i cant understand is legal. 
          i hate to be so simplistic but most solutions are.  
          NO SALE NO FEE while being a strange old thing that i have complained about since i was a nipper is the only way to show the public we arent #fake agents with millions of shareholders money to burn on clever tv adverts…
          rightmove need to bringin this policy if it really has customer standards at heart..
           

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        2. KByfield04

          OTM isn’t finished yet? Really? Not sure it ever got started.

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      3. KByfield04

        We didn’t bottle it- OTM was not good. Had it been a comsumer focused, cutting edge, tech driven platform (which it simply had to be to succeed) many more of us would have got onboard.

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        1. AgentV

           consumer focused, cutting edge, tech driven platform 

          I agree…….but with the right people involved it could still become that…couldn’t it?

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    2. Beano

      He said  “Every year has brought increases in its average revenue per advertiser as it expands the repertoire of advertising products and packages available to customers to increase their brand exposure.”
      He could have said “Every year (at least) they punishingly capitalise on their near monopoly by rewarding their very loyal customer base with excessive price increases and pointless add ons, knowing the mentality of their client base means they will keep giving, as ulitmately they all compete with each other and wont do whats best collectively. 

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  3. AgentV

    I think Rightmove ought to keep an eye on their unlocked back door as opposed to always being out on the front drive chatting to customers, passers by, promoting themselves and patting themselves on the back.

    Whilst they are doing this they have let someone into their home who is quietly progressively ram-sacking the place, and might one day decide to set fire to it without them even noticing…..until it is too late!

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    1. Bless You

      Yep,,how is letting purplebricks kill off competitors good for a unit based business…. 
      its like letting 50 lets go becuase you scored a mansion..if that landlord in the mansion suddenly goes bust becuase his mansion was actually a hay stack… then you are in trouble. lol   can you tell its friday. 

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  4. Woodentop

    The threat to RM and alike is social media outlets. That will be the next home buying revolution.

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    1. AgentV

      And one thing no one has come up with …..PM & A……yet!

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