‘The Parking Space’

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 “Digital products are competing for users’ limited attention. The modern economy increasingly revolves around the human attention span and how products capture that attention.”

With communication media constantly growing and evolving, it is becoming increasingly difficult to hold consumers attention with all these distractions. In these moments, marketers are faced with scarcity as they want the attention of their targeted audience but so do thousands of other marketers, companies, people and things for that finite resource.

With more brands and products looking to advertise, there is an ever-growing demand for consumer attention, with companies rushing to beat each other to ‘park in that last parking space,’ now focusing more of their attention on emphasising context over content. They are pouring endless amounts of money into out-doing one another with little to no control of the outcome.

“We each only have 24 hours in a day. Where we choose to allocate this attention will increasingly determine who creates economic value and who destroys economic value.”

All of this isn’t to say there is no possible way to hold attention – under the right conditions, companies do have the ability to capture our attention and push their message across.

 

 

 

 

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One thought on “‘The Parking Space’

  1. This new economy has created an environment that forces businesses and users to create quality content to survive. This has resulted in an culling of those companies that only create mediocre content, as they become lost in the endless ocean of mediocre content, where they may fail to make a profit, as the less people that see their content, the less that may purchase from them.

    Nick Edouard states that on average, 80% of Users spend less than 5 seconds on a website before abandoning it, therefore, Businesses must put in a lot of work to ensure Users are attracted to the company’s goods and services. (https://business.linkedin.com/marketing-solutions/blog/content-marketing-thought-leaders/2016/the-attention-economy—the-impact-of-attention-scarcity-on-mode). The Attention Economy has certainly put a strain on the Marketing Functions of a Business and this post demonstrates it clearly, nice work!!!

    Liked by 1 person

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