The Attention Economy And Digital Marketing

The attention economy refers to the paradigm shift from legacy media models that rely on providing scarce content, to the age of content aggregators such as Netflix that provide content on demand (Mitew 2017). As such, the business model of content aggregators deems attention as being valuable rather than the specific access to content.

This shift has affected the digital marketing landscape as consumers are now presented with an abundance of content. Companies need to fight for the attention of consumers (Teixeira 2017).

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The rise of Web 2.0 has also affected how marketing is undertaken online. Tim O’Reilly (2005) describes a fundamental aspect of Web 2.0 being that users add value as a side effect of ordinary use of an application. This relates to social media and content marketing as users who interact with companies and their content online are constantly giving feedback, whether it’s intentional or not.

This is mirrored by the arrival of distributed information networks as there is potential for every node to broadcast to the entire network (Mitew 2017).

Reference List:

Mitew, T 2017, ‘The attention economy and the long tail effect’, Prezi, 21 July, viewed 25 August 2018, <https://prezi.com/nm7rgdlnxhdf/the-attention-economy-and-the-long-tail-effect/>.

O’Reilly, T 2005, ‘What Is Web 2.0: Design Patterns and Business Models for the Next Generation of Software’, O’Reilly, September 30, viewed 25 August 2018, <https://www.oreilly.com/pub/a/web2/archive/what-is-web-20.html?page=1>.

Teixeira, T 2017, ‘Looking to win the battle for consumer attention? Take the blindfold off’, Think With Google, August, viewed 25 August 2018, <https://www.thinkwithgoogle.com/marketing-resources/data-measurement/consumer-attention-economy-marketing-principles/>.

Header Image Source: Jakob Owens

 

2 thoughts on “The Attention Economy And Digital Marketing

  1. Hi Alexander,
    I love the introducing sentence you’ve made- it was very sharp, made way for the blog and it was captivating. I also like the concept that attention is something valuable to producers but I’m a bit unclear on what exactly the relation of attention to the abundance of content is? How is it that the onsumer’s attention is more important than access to content? Maybe you could clear that up 🙂
    I can also say that the statement: ‘users add value as a side effect of ordinary use of an application,’ was informing and kept me nodding throughout the close of the blogpost as it may have been something I personally overlooked. It’s very true that the consumer’s direct engagement gives the producer’s feedback that they would not find in legacy media.
    You could also discuss the ‘power to the the consumer’ in relation to that, and here is a link you might like that discusses that: https://www.marketingmag.com.au/hubs-c/web20anditseffectsonmarketingpractice/
    Good job, keep up the hard work
    Fadilla

    Liked by 1 person

    1. Hi Fadilla. Thanks for your comment, feedback and for providing that additional resource! In regards to your question, the reason that a consumers attention is more valuable than access to content is because content is no longer difficult to access. The ability to access content was more valuable in the past because if consumers wanted certain information they would only be able to access it through certain content distributors (think of the legacy media models such as newspapers). Now, content aggregators provide all this content from a range of sources and locations. Meaning if you really want to find something you probably can and for free, the real business model of content is now ensuring you can hold a consumers attention and give them a reason to view your content as opposed to competitors.

      Liked by 1 person

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