May 10, 2011

The new attention economy

Posted by: in North America

What the price for the attention of the digitally distracted? Two months ago NBC paid out $2 to watch a 30-second trailer for America’s Next Great Restaurant, an offer made to people buying LivingSocial deals. This followed a “buy one, get one free” burrito coupon for Chipotle, awarded to people who watched the same ad on NBC’s Facebook page (Chipotle’s CEO was a judge on the reality contest). Now Facebook is equating the price of attention with Facebook Credits. Watching an ad in a Facebook game earns one Credit, worth 10 cents, which can be redeemed for virtual goods; as Inside Facebook reports, the aim is to get users accustomed to Credits, thus helping developers monetize more game players.

The idea of paying viewers to watch ads in games is not new. When Jun Group, a social video company, started doing it around two years ago, “the results blew us away,” CEO Mitchell Reichgut said in a recent Ad Age column, “Why Everyone Is Going to Start Paying Consumers to Watch Video Ads.” On the more skeptical end of the spectrum, Fast Company warns that “rewarding behavior that would otherwise be done for free can backfire.”

Apps that are free with advertising versus paid without is another way in which the price of consumer attention to ads is being quantified. And last month Amazon released an ad-supported Kindle that’s $25 less ($114) than the regular version, lowering the barrier to entry for the device. A CNET reviewer deemed it an appealing option (“Much to my own personal horror, the ads didn’t bother me at all”). If the so-called Kindle with Special Offers takes off, watch for more subsidized hardware, from phones to tablets—and a growing cohort of consumers who come to expect a little something for their time.

Photo credit: Rennett Stowe

1 Response to "The new attention economy"

1 | Craig Elimeliah

May 10th, 2011 at 10:11 am

Avatar

This concept is one that will redefine advertising as we know it. Making micro buys on individuals and the vast networks they are now part of makes for a much smarter use of ad dollars. When I started Pushkart the core of the idea was to pay consumers with deals so that they may endorse products and services they love.

The consumer is the new voice of advertising and that voice carries a lot of weight in purchasing influence.

Spending ad dollars on the individual rather than the masses makes perfect sense with the infrastructure we have in place today.

Every person is now a channel and can extend a brand communication deeper and in a more personal way than any other medium.

Comment Form

SIGN UP FOR OUR WEEKLY EMAIL NEWSLETTER:

New: 10 Years of 10 Trends

The Future 100

JWT AnxietyIndex

Things to Watch

  • Crossing ‘the digital divide’
    March 19, 2015 | 4:24 pm

    ggw_16-9

    In a piece on an 82-year-old going online for the first time, The Washington Post called attention to a rising issue—the divide between those who use the Internet and those who don’t (13% in the U.S., and 41% among senior citizens).

    Continue reading “Crossing ‘the digital divide’” »

  • Incremental saving and giving
    March 11, 2015 | 1:51 pm

    Call it progress or just laziness—apps are popping up that harness our small change and put it to better use. Acorns, dubbed “the Tinder of investing,” links to a user’s debit or credit card and rounds up to the nearest dollar on every purchase. The app then takes that spare change and invests it in a portfolio of the user’s choice—portfolios range from low to high risk (and reward). Or users can opt to let Acorns choose for them based on their age, goals, income and other factors. Meanwhile, apps like Qapital and Digit facilitate regular small transfers from checking to savings, and banks themselves are getting on the incremental savings bandwagon. (See: Bank of America’s Keep the Change and Wells Fargo’s Way2Save.)

    Continue reading “Incremental saving and giving” »

  • Augmenting sleep
    March 9, 2015 | 12:02 pm

    Sense orb

    Digital platforms are already integrated into our every waking minute—now they’re moving into our sleep. A spate of apps and devices aim to aid and facilitate better sleep, from ambient lamps to a lucid dreaming sleep mask to an app that wakes you up with a phone call from a stranger.

    Continue reading “Augmenting sleep” »

  • The sharing economy grows up
    March 3, 2015 | 3:30 pm

    Screen Shot 2015-03-03 at 2.28.41 PM

    Hotel giant Starwood has bought in to the sharing economy. The group, which owns W Hotels, St. Regis and Sheraton, has announced a partnership with car service Uber in which every dollar spent by a guest on an Uber car earns points toward free rooms and other perks.

    Continue reading “The sharing economy grows up” »

  • Digital immersive exercise
    February 25, 2015 | 4:04 pm

    immersive-fitness-the-trip

    Equinox’s new revved-up cycle class speaks to a growing exercise trend—digital immersion. This month the gym brand unveiled Pursuit, an immersive cycling concept, to limited U.S. gyms. Equinox describes the program as “an immersive studio cycling experience that uses groundbreaking gaming and data visualization to drive competition and inspire peak performance.”

    Continue reading “Digital immersive exercise” »

  • Science fare
    February 20, 2015 | 2:07 pm

    Screen Shot 2015-02-20 at 12.59.22 PM

    The worlds of science, gastronomy and art are continuing to cross-pollinate—from edible conceptual art to molecular gastronomy “lab cafés” to synesthetic dining events. Café ArtScience in Cambridge, Mass., is a recent example. Opened late last year by David Edwards, a Harvard engineering professor, the café serves whiskey “fogs” through a special carafe that turns the liquor into vapor (which means consumers don’t take in any of the calories and feel none of the intoxicating effects).

    Continue reading “Science fare” »

  • Aman’s authentic-luxe travel
    February 11, 2015 | 1:06 pm

    Amandira1_509

    As travelers continue to seek out authentic and unique experiences, hospitality brands keep raising the bar on hyper-localized offerings and exceptional access. Aman, for instance, is introducing a phinisi-style sailing ship in Indonesia, marrying the brand’s ultra-luxe sensibility with regional tradition. With an outdoor lounge and bar, the option to travel by motor, and air-conditioned cabins, the ship brings every modern comfort to an age-old means of navigating the Indonesian archipelago. Another Aman property, meanwhile, offers a dip into paleontology: Guests at Amangiri in southern Utah can join an official dig at the Grand Staircase-Escalante National Monument, working alongside fossil experts for a half-day. The cost of getting one’s hands dirty starts at $600. (Resulting Instagram images: priceless.) —Marian Berelowitz

    Image credit: Aman

  • Adidas’ ‘virtual line’
    February 5, 2015 | 6:55 pm

    Adidas

    Adidas’ new Confirmed app cleverly harnesses the fervor of collectors who normally line up for limited-edition shoes, moving fans onto a mobile platform. App users create an account, then get push notifications when hot new releases are on the way. Interested buyers in a given metro area—only New York City at launch—indicate their size and, if approved, receive details on where and when to pick up the shoes. An Adidas exec calls it a “virtual line.” In addition to collecting data on these super-fans, the app lets Adidas control which influencers get various styles, drives traffic to selected stores, builds additional buzz and cuts out secondary-market sellers armed with bots that secure advance orders. —Marian Berelowitz

    Image credit: Bloomberg

  • Adventurous play
    February 4, 2015 | 1:09 pm

    Screen Shot 2015-02-04 at 12.00.22 PM

    Kids will slide through a “Tunnel of Terror” and get slimy on “Mount Mud” in Tough Mudder’s new obstacle course for the 7-12 set. The endurance-challenge purveyor is partnering with European soft drink brand Britvic on Fruit Shoot Mini Mudder, with events planned for the U.S., the U.K. and Ireland. The concept caters to parents looking to pry kids away from screens and get them moving—there’s now a CrossFit offshoot for kids, starting with preschoolers—in ways that are challenging and fun.

    Continue reading “Adventurous play” »

  • Rivals joining forces
    January 26, 2015 | 7:19 pm

    Volkswagen_5 2000px-BMW.svg

    Not long ago, a collaboration between two rival companies would have been seen as a counterintuitive and perhaps desperate measure. In 2015, however, BMW’s partnership with Volkswagen on fast-charging electric vehicle stations makes the automakers look self-confident, open and serious about sustainability and the common good.  Continue reading “Rivals joining forces” »

  • RSSArchive for Things to Watch »