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Saturday, July 14, 2012

Have you heard of the term Attention Economy? Well, it's a new trend in the world wide web that's an offshoot to social media marketing or some would say a part of it. It's a new way of doing things wherein you agree to be paid in exchange for your attention. What the heck is that?!

Well, some companies believe that in using the "grape-vine", it would be effective to use the person-to-person approach in exposing their services and products. You may identify yourself with the right service and products, and it comes with the influence you make. Examples of these, are the personalized news, personalized search, alerts for recommendations, or the "follow me" types.

This new concept, emphasizes on how netizens value their attention. They get paid for posting news articles and clicking on links where they are needed. The value is derived from relevancy. The more relevant the post is, or the more relevant the followers are, is expected to translate into more engagements.

The objective is to direct and redirect visits to companies that offer the relevant service or product. Trending it this way, allows a broader reach with focus. Concentrating the visits in this manner, allows a funneling through that may achieve greater results. More people carrying their influence, with the same interests, into the right service and product, shall statistically increase the best probabilities.

With all these information above, what then is Attention Economy? It is simply a maximization of the scarce resource - people's attention as a commodity. In web theory, it is the realization that when a netizen is looking for something, he will find it eventually in filters and in another competitor's site. Hence, if Attention Economics is applied, the first page the netizen sees should be the most relevant thus catching his attention to stay in your site and make a difference - and more often get paid for it.

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