Over the past few years, the share of video content has increased several times, and with it, the behavior of consumers has changed. A customer’s attention is distributed unevenly, and advertisers do not take this into account.
Why attention economy is so important for brands
Attention economy is based on the fact that a consumer’s attention is limited and always worth something. Recently, the cost of attention has increased dramatically. Every day, there are more and more brands and companies that advertise their products, so the demand for attention is getting higher. The problem is that the demand is too huge, and the amount of human attention is limited.
How to work with attention economy
In fact, things are not as bad. People still pay attention to advertising, and there are still proven ways to effectively engage customers. Over the years of research and working with companies such as Nike, Unilever, and Microsoft, we have developed four simple p’s of customer engagement.
Proper choice of advertising channel
Over the past two decades, the cost of one minute of viewer’s attention on television in the US has grown sevenfold, even given the inflation. In the early 90’s, 97% of viewers watched commercials to the end. A couple of years ago, this figure reduced to 20%.
Despite the increase in cost and the decline in the effectiveness of marketing via television, advertisers still spend money on traditional media, although they should invest in digital media instead.
In order to engage customers, you should spend money on advertising only in such media, which will allow you to get the necessary attention for the money. The only exceptions are cases when you have a rare brand whose products really suit everyone. Switching to other media is not easy but, in the end, it is worth it.
Pursue creative customer engagement solutions
Whether or not the customer will pay attention to your brand depends on many factors, for example, on the thoughts of a person at a time when they see an advertisement, what is distracting them at that moment, or even what the person is doing. In addition, the context of advertising, its creative realization and how relevant it is to the customer are important.
Patience when getting customers’ engagement
If you are acquainting a customer with your brand for the first time, you should not immediately ask them to start buying from you. It is like asking someone out for a three-hour dinner when you are not acquainted with that person. Start with something quick and simple. Suggest a “coffee”. If all goes well, go to the next step – invite for a “lunch”, and there you can already think about going out for “dinner”.
This marketing principle is called the ladder of participation. Its essence is to gradually build a client’s relationship with your brand and, thus, earn their trust.
To implement this principle, you should experiment with different types of advertising and the frequency of its display (if we are talking about social media ads). For example, you can try to make short videos at first, and then start creating long, more cinematic videos. Alternatively, you can use a consistent narrative and tell stories in parts thus engaging your clients. For instance, www.ukessay.com also write some articles on the topic on their blog.
Prize customers’ loyalty
Developing a loyalty program for your business will not only increase the repeat visits of your current customers but also help build good relationships with them. Such a program should be aimed at establishing a deeper emotional connection between the client and you. Of course, customers keep coming back to you precisely because they are satisfied with the quality of your service, your products, and services, but a well-thought-out loyalty program will always help to significantly increase the value of your brand.
Encourage loyal clients with bonuses, discounts, and gifts. Of course, discounts will always be an effective way to engage customers, but you can go even further. The most elaborate loyalty programs offer a reward that is of high value to a consumer.
You can start encouraging clients to fill out a form with their contact information, subscription to a newsletter or for leaving a feedback. Then, when interacting with a client, often within the loyalty program, you will be able to make such offers that are of the greatest value for them. It is also a good idea to run special promotions for regulars who will, in turn, bring you, new customers. Your regular customers, without even noticing it, will act as advertisers for your brand thus facilitating client engagement by telling others about the excellent service received.
There is no magic formula that will certainly help you engage your clients. But there are a number of certain principles that brands use. To understand how to play by the rules of the game, ask yourself the following questions: Are you investing in the right advertising platforms? Are you using the right tools to attract customers? Answer these questions honestly, and you will excel.