You are Gold: the cost of paying attention

In the world of advertising sponsored media (starting with the TV and extending now to games and apps on our devices), the attention we give is what is being sold to the brands sponsoring the content.  Our attention is for sales.  We don’t use the apps.  They are using us.  We might be thinking we are mining for gold in Minecraft, but in fact, we are the gold.  Our attention being traded for revenue.

Mara Zepeda and Samuel Hulick recently calculated the value of our attention on the Facebook platform using their current ad rates.  They estimated that our attention on the platform is being sold to advertisers for something like 12-cents an hour.  Apparently, that is what our attention is worth.  And frankly, it is worth even less, because we are not the one earning.

We should pay attention to what we pay attention to because they aren’t paying you for attention.  Make sure the value you are getting is worth the gold you are trading.

What does Times Square teach about Digital Signage?

Times Square, that historic and iconic spectacle in New York City, is in a class of its own.  It is digital signage on steroids.  It has a larger-than-life scale that is awe-inspiring.  It has a reputation and historic significance.  It is one of the most popular tourist attractions in the city and possibly the world.  It’s more famous than its namesake newspaper. It has taken over-development and made it into a feature.  And found a way to monetize that over-development with ongoing investment in new equipment and content.  Despite similar spectacles in Tokyo or London, it remains a one of a kind.

So, what can this teach us about digital signage in other environments?  Be awesome, tie into the uniqueness of the space, and be one-of-a-kind. And use those things to build a business model for success.

So, what can it teach us about innovating our businesses?  Be awesome, tie into the uniqueness that is inherent in the space, and be one-of-a-kind. And use those things to build a business model for success.

Tweeting Our Attention

It has long been said that if you really want to learn something, you should teach it.  But research shows that the same can be said for tweeting.  When NeuroInsights ran focus groups with consumers who were shown programming and told they would need to tweet about it, paid more attention and retained the information better than those in the control group.  So, instead of “pay attention, it might be on the test” perhaps we should say “pay attention, it might be in a tweet.”