Past Writings Review – 2
Marketing: Disrupted and Simplified: “The simple truth that marketers have missed is: “To get customers to pay attention, pay for attention.” In fact, marketers know this very well – they are just paying the wrong entities for attention. It is time they stopped fattening the profits of Google and Facebook, and instead consider a rewards program to incentivise their existing customers for attention and action, the upstream of transactions. This is the secret to ensuring there is no money left on the table – for competition…Push messages need to be transformed into microns with rewards (Mu). These messages offer incentivises for attention and action for the Rest so they never ignore brand communications. It is better to pay one’s own customers for their attention rather than compete in auctions on Google and Facebook and spend 10 times more money in re-acquiring them via ad platforms.”
Attention Messaging: Bridging Adtech, CPaaS and Martech: “Attention needs to become the new Acquisition. Omnichannel push messaging is the lever for driving attention and retention. Attention Messaging is the solution with its multiple innovations of Ems, Microns, Mu and Micronbox. It is the way marketers can regain control of the customer relationship and thus drive greater transactions, revenues and profits…The budget to fund retention is hiding in plain sight. Instead of a 90:10 acquisition:retention split, marketers need to make it 75:25. This will make for happier customers (they are being rewarded for their attention), drive greater engagement (more attention = more opens/clicks and thus more transactions), and reduce churn (attentive customers are less likely to become dormant and inactive).”
Stop Loss: The Power of Attention Messaging: “It is time for Attention Messaging to have a seat at the table – just like Adtech and Martech. Attention Messaging is what will power tomorrow’s brands. It is just sending push messages by the dozen to inboxes; it is about thinking about attention, habits, deeper relationships and friendships. Financial rewards and gamification are just the icing that brings in an excitement in the thrill – like surprise gifting that we do to family and friends we care for. Attention Messaging must become the next C-suite agenda. Done right, it can nurture a lifetime of love between brands and customers – but only if it works both ways… It follows the natural evolution from acquisition to onsite and in-app engagement to attention and retention. Combined with Velvet Rope Marketing, Attention Messaging is the second pillar that can create the moats marketers want in their quest to become a profipoly (profits monopoly).”
As I have been thinking and writing about the problem of attention, a few things have stood out. One, the attention problem is much bigger – there are many moments where some extra attention from us could be beneficial to us, both as buyers and sellers. Two, a small intervention in the form of an incentive could drive behaviour change. Third, this incentive solution – non-financial, not linked to a transaction, and pan-brand – does not exist. Fourth, there is a need for a headless system (API-based) that can be easily integrated by brands into their communications and marketing platforms.
In this series, I will explore these ideas further and outline an idea I call “atomic rewards” (in the form of Mu) as the solution to attention recession and the core of attention messaging.