Attention Economy and It's Implications on Marketing

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Attention Economy, Implications on Marketing, Snapchat, facebook, twitter, linkedin, information overload, information abundance

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Attention Economy and It's Implications on Marketing

  1. 1. Attention Economy and It’s Implications on Marketing
  2. 2. The Marketing Divide
  3. 3. Information Abundance
  4. 4. Consumers Don’t Believe Ads Anymore Overstated messages, leadership, etc Advertising communication
  5. 5. Perception Threshold is Higher Than Ever ! Buzz Marketing Media Saturation Number of messages we are exposed to in a day: ~5000
  6. 6. Image by Mark Garbowski used with Attribution as directed by Creative Commons http://toomuchglass.net/2010/12/02/la-la-la-la/ We Naturally Develop Filters to Noise © 2012 Altimeter Group
  7. 7. Explosion of Information = Scarcity of Attention “Rapid explosion of information causes scarcity of our attention.” Herbert Simon
  8. 8. Attention Process
  9. 9. Structure of Attention Economy • It’s another but indirect market exchange is in the form of – Attention & time (of consumers) in return for – Entertainment & utility (i.e. Relevant content) • Keeping customers happy is most important • Selling is indirect – Search engines: In return for finding answers to questions online, place ads in the page – News feeds (twitter, facebook) and sponsored stories • Relevant / personalized delivery is required to handle information overload – Example: recommendation engines – Implication: Need for understanding customers better in a long term relationship
  10. 10. Value Exchange in Attention Economy
  11. 11. Snapchat
  12. 12. What is Snapchat? • • • Snapchat is a new way to take pictures or videos over your cellular device and send them to friends at intervals of 1 to 10 seconds. A set time of 1 to 10 seconds is picked for the viewing time and after the time is up the picture ‘vanishes’. The snapper can also draw on the picture and add a short text. Temporary Social Media
  13. 13. Snapchat as An Attention Getter Excerpt from LeWeb’13 Gary Vaynerchuk "Before you tell a story, you have to have somebody's attention," • By making content temporary, Snapchat has created a platform that demands your attention • It's not width, it's depth. It's not how many impressions you get, it's how much attention you get. • Social media strategies focused on amassing large numbers of page views and follower counts are missing the point. Our digital world is noisy, an ocean of Facebook, Twitter (and yes, LinkedIn) updates. You have to ask yourself – are you catching the attention and are you making a connection? Source: https://www.linkedin.com/today/post/article/20131211160622-13333827-gary-vaynerchuck-snapchat-is-the-most-valuablemarketing-tool-right-now?trk=tod-home-art-list-large_0
  14. 14. Thank You For Listening… Dr. Adnan Veysel Ertemel adnan.ertemel@gmail.com @adnanertemel http://www.linkedin.com/in/adnanertemel

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