Attention is the new money!

We spend up to 8 hours online. The screen formats may vary between laptops, tablets, smart phones or even smart watches. These screens have come to be our generation’s windows to the world. They are a means of livelihood, networking, shopping, entertainment, etc… Advertisers are pouring in millions, for an opportunity to feature in them, and to attract our fickle attention. Thus, our screen space has come to be the most valuable real estate in the world.

There are over a 1.5 million apps in the Google Play app store today. But, how many of those find their way into our phones? The success of most new internet ventures lie in their ability to engage users on a recurring basis. In an age where content reigns supreme, the access to users is far more democratic. Small start ups now have a more level ( still not flat!) playing field, to compete with big business behemoths. In the Indian context, start ups like Flipkart, Zomato, Ola, Housing, AIB, TVF, etc..epitomize these David vs. Goliath victories.

Traditionally, we lived in an unequal unfair world, with regards to content. The information we consumed , the opinions we formed was largely controlled by large corporations. Our TV shows were interrupted by irritating TV commercials, while theatres decided the movies we watched. But, the rise of the ‘connected screen’ has empowered us consumers. We are far more likely to be interested in a service ‘liked’ by a friend on Facebook, than one which has bought out a full page advertorial in a national daily. Our screen space cannot be bought outright; it has to be baited and courted.

Attention is a fickle, yet precious commodity which has to nurtured and kindled with care. One viral post has the ability to disrupt a business, for the better or worse. In the online world, a brand is merely perceived as an another individual, who can be followed, admired, mocked or trolled. The consumer behind the screen has ceased to be a faceless, nameless statistic. Thus, the conversation with him, also has to be more personal and direct.

The path to cash, is paved with successful user engagement. This jostle for clicks, likes, comments and subscriptions has irreversibly changed the nature of business. We have all heard the old adage, ‘time is money’. But in this age of information overload, it might be more appropriate to say, ‘Attention is money’!