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Economy of Attention

published on 11-12-2015
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Many successful modern online business ventures start from a website.
The most successful of them, however, involve much more than that.

Some mistakenly assume that the key for the success of a commercial website is a quality of design, or a good structure, friendly interface, optimization and quality content.
All of these conditions are necessary but not sufficient.

A good site can grab your attention. You can browse it , then visit it a few times and that's all.
The extremely good sites, generating huge revenues do not rely on that. Why so?
Because they know that the real battle for customers begins beyond our attention, where random interest evolves into a habit of doing the same thing over and over again.

The habit is the main pillar of the economy of attention.

This is the economy that successfully monetized our attention and benefits of our habits that make us to click over and over again on the same URL.
This model is not new. It is the oldest known and proven method for offline profits. The habit is a fundamental principle, driving force in gambling, in selling drugs, cigarettes and alcohol. The expectation of getting reward makes customers to buy goods from sellout, books with recipes for wealth and happiness, to participate in games of success and buying tickets for everything promising reward.
Attracting attention is the spark that ignites the flame. But the true success is like a fire.
The evolution of attention into habit in the digital space is a process needing to be maintained by all the king's men of professional marketing analysts, software architects, content writers and designers, psychologists etc. You'll never guess how many marketing ideas are actually embodied in the interface of your favorite online shopping site.

Big Brother monitors and records each click

Tracking and recording of user actions on the Internet, gathering data on the topics and issues that attract their attention, plays a key role in targeting products and services.
In the offline reality, is practically impossible our interests to be traced. In the digital world it's easy and simple and no special resources required for gathering data for customers attention to specific products. That's the way that works targeted personalized advertising. Personalized approach to clients is proven good way of keeping the fire.

Email marketing can be a double-edged sword

Mailing campaigns work successfully for all who know how to use this marketing tool, but for those who do not know how, it can bring negative results and even to push away consumers.
Sending email can be considered as attempt for establishing personal contact with the recipient. Attracting attention of the potential users with sending via email unsolicited commercial communications without prior consent is invasion of privacy.
The thin line that separates success from failure here is balancing between rules for successful marketing with the requirements of the laws governing the use of the Internet. The public interest affected by the abuse of personal data is a significant and meaningful. That's why this is a sensitive matter in the field of legal regulation.

Communication with consumers

Trust is the key factor in establishing, building and maintaining strong customer relationships.
How can be achieved? Let's see.
The attention of modern, traditionally distrustful consumer, jaded with countless offers is a hard work. Much more difficult however is to keep consumer's attention in a long run.
Here is a short list of mistakes that kill confidence.

1. Anonymity
Who would trust to website in which the trader is annonimus? Very few. Further, identifying information for the website owner is not only important for the credibility of the trader, but also is required by the law.

2. Transparent conditions
Every customer wants to know how much a product or service costs, how can be canceled client's order, etc. Only market monopolists can afford to deceive their customers. In other circumstances it would have cost them business.

3. The sacred right of returning
If you try to impede your customer to return the goods, because he/she has rethought about the purchase or just not want goods anymore or if you accept returned goods with obvious irritation, this customer is lost for your cause. Consumer rights must be unconditionally respected.

4. Spam
If you constantly send emails to your potential customers for advertising your products in the form of messages, newsletters and other unsolicited mails with the only excuse that the email address is taken from the "public space", you risk turning into annoying spammer. Moreover, if this is done in violation of laws you can be fined by the controlling authorities.

5. False statements
All you say for yourselves, for your goods or services, qualities etc. and when even small part of announced information is not 100% true, this reflects in severe loss of confidence

When it comes to successful business, not only in digital, but in all epochs in the development of human civilization, credibility has always been a critical success factor.
Credibility means the quality of being accepted as honest, consistent and acting within the law.
It has never been easy.
But it’s worth it.

Source: www.1legal.net