THE ECONOMICS OF ATTENTION

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Attention is a precious commodity and consumers are willing to trade it for something in return. Consumers are starting to take this quid pro quo approach to advertising. In fact, 37% of adults who use their cell phone for Internet activities are reporting that they would view an ad on their mobile device if they were to receive something of value in exchange.

In response, there have been several new initiatives aimed at rewarding consumers for watching ads or interacting with brands over social media or in real life. For example, Urban Outfitters has launched an app called Urban Outfitters On You that rewards users for interacting and mentioning the brand on social platforms. Every time a user mentions Urban Outfitters on either Instagram or Twitter, they are given points that unlock perks such as information on when sales will happen, first access to new merchandise and concert tickets. Consumers are recognizing themselves as stakeholders in the “attention economy” and they will be increasingly looking for ways to leverage their commodity.

Published by dkachiros

My purpose is simple – to identify the authentic potential in brands, discover their beautiful truth and inspire them to tap into their purpose or their raison d'être (reason for being). This is a brand’s beautiful truth. Establishing that truth opens the door for fresh approaches and ideas that are unmistakably true to brand, yet breakthrough for consumers – suited for building businesses. It’s all about shattering category conventions, finding permission for new territory and ultimately building relevance and more meaningful experiences at every moment along the journey. I pride myself on getting people to fall in love with the brand, be it for the very first time and or all over again. Feel free to reach out to me if I can help in any way. Dixie Kachiros dkachiros@gmail.com dkachiros.com 214-596-8468

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