The Attention Economy

You’ll often hear people say that we live in an Attention Economy, but what exactly does that mean, and more importantly why does it matter?

In the world of social media, it’s easy to dismiss the influencers who only seem to be popular due to some crazy antics.

But when Kylie Jenner can become a billionaire simply because she has a huge Instagram following, it makes sense to…pay…attention.

As a Creator what does this mean for you? You aren’t trying to make a billion dollars. You just want to live a nice life where you don’t have to worry about money.

I get it.

But the problem is that there are thousands (and soon to be millions) of Creators just like you vying for attention. Everyone can’t share the attention of a single person.

This is why the Attention Economy exists.

Those with the most attention win.

But don’t fret. That doesn’t mean those with the largest amount of followers win.

Let’s get back to Kylie Jenner and make up some numbers since I don’t want to research this stuff.

She launches a mascara and it sells out in minutes. She makes $80 million from it.

10 million units sold.

She has 388 million followers.

That means 2.5% of her “audience” were paying attention enough to care to buy.

What matters is WHO is paying attention to you.

If the wrong people are then you make no money. If the right people are then you can’t stop making money.

So then your goal becomes getting the attention of the right people and keeping it.

How do you do that?

Grabbing Attention

There is the cheap way of grabbing attention and the lucrative way.

I can’t teach you the cheap way. I don’t know the best practices for doing freebie giveaways that bring a ton of people that never want to hear from you.

But I do know the lucrative way: finding those people you can move along the Customer Journey until they buy something from you.

It’s about building customers and it starts with delivering a message that resonates with those who feel they are being overlooked.

Where most Creators fall flat is that they see what content is working for others and then copy it.

That person did a tweet on the top 10 business books? I’ll do a tweet on the top 13 business books!

That could very well work, but it’s talking to the same bunch.

However, if you did a tweet of the top 5 business books for Creators making $1,000,000 then that’s different.

Will it get the same amount of attention as the other tweet? No, but that’s not the point.

When you target the 7-figure Creators they perk up because they feel like nobody is talking to them. All of the advice they see is stuff they already know.

Telling them there are books tailored exactly to them makes them feel heard.

And that’s how you grab attention.

Talk to those that feel like nobody is listening.

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In today's world, it's not enough to simply know how to create a digital product.

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