Attention and free economies
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Attention and free economies

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Attention and Free Economies, with a focus on Google

Attention and Free Economies, with a focus on Google

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  • 1. Attention and Free Economies with a focus on Google By Narelle Absolom
  • 2. Fundamental terms
    • Attention Economy
    • Free Economy
    • Often synonymous and usually linked in terms of the fundamental economic basis of the interent
  • 3. Attention is scarce
    • The internet is overflowing with information
    • Much of it is freely available
    • But without attention, getting ‘eyeballs’ to your information – how useful is it?
    Image source: http://www.mediafuturist.com/2008/08/getting-paid-wi.html
  • 4. Free Economy
    • Sometimes, (in fact, often online) you have to give your product or service away for free
    • Then you can make money later, through:
      • Advertising
      • Sponsorship
      • Brand marketing
  • 5. Google is Free… and Rich!
    • Google provides most of its products and services free to users
    • Yet it made $21billion last year!
    • How is this possible?
    Image source: http://phiyakushi.files.wordpress.com/2009/07/money_stack.jpg
  • 6. Google the Survivor
    • Google was both clever and lucky
    • It survived the dotcom crash by
      • applying non-traditional marketing methods
      • recruiting just the right people for the job
      • taking calculated risks
  • 7. So Much Attention, So Little Time!
    • Google gathered a huge amount of attention very quickly. How? Why?
      • Making a search engine that was quick and worked as expected
      • Building on its success constantly by improving its search technology
      • Not being “evil”
  • 8. Show Me the Money!
    • Google made its money through advertising:
      • AdSense applied relevant advertising links to the top of keyword search results
      • AdWords was a pay-per-click auction model where companies could buy ads in search results sidebars
  • 9. Household Name
    • Google became synonymous with search
    • You don’t “use a search engine” anymore, you “Google it”!
    Image source: http://www.sevensheaven.nl/images/producten/illustration-illustratie_google-search_02.jpg
  • 10. King of Information
    • Google has its fingers in many pies:
      • Search
      • Blogging
      • Social networking
      • Email
      • Knowledge base
      • Website creation
      • and many more…
    Image source: http://b2b-marketingblog.com/tag/google/
  • 11. Summary
    • Google is a great case study for attention and free economic models
    • Its products are essentially free, and the attention it gathers transform into revenue through advertising
    • Free + attention = money!
  • 12. Full Article and References
    • For the full article, including references cited, please following this link:
    • http://sites.google.com/site/net205apples/home/attention-economy