Craft Business

In today’s multi-channel, information-rich world, it is an individual’s attention that has become the scarcest resource. 'Attention economics' is the term coined by business analysts to articulate the concept which acknowledges that consumers are bombarded with so much information, they are starting to ignore it.

In this period of economic downturn it is more important than ever to stand out from the competition. However, as demands on attention have increased, so consumers have reacted by taking greater control. Communication has transformed from a push method, where businesses dictate the feed of information, to a pull model, where consumers have far more power in determining what reaches them, and what doesn’t.

Traditionally marketing in the retail sector is lead by the big players, with most independent shops taking a back seat. But, with the industry polarising into two separate markets, luxury and budget, now is not the time to ignore your USP. Of course, advertising and marketing hasn’t disappeared and people remain open to offers and campaigns. But the sheer noise of information from such an abundance of channels and touch-points means messages risk being ignored, swamped by the competition or irritating the recipient to such an extent that the latest channels – blogs, social network sites, etc. – are used to vent frustration at the brand concerned.

Never before has the concept of channel integration and consistency of message been so important. If multiple-channels are used it is imperative that the infrastructure is in place to handle the variety of responses and queries that will result. Consistency across channels is also important – the tone of message, the style, the design must be familiar across all mediums if brand recognition and message recollection are to be heightened. Businesses must also avoid falling into the trap of assuming that capturing attention is the ultimate goal. There is both negative and positive attention and those companies attempting to be all things to all people by embracing the latest communication media, can end up looking out of touch and desperate.

Indeed, the relationship between the channels is interesting to observe. The early days of the web heralded sites that used every conceivable trick and graphical device in a bid to attract attention, have now become subtler, cleaner, quick and simple to read and digest – like the very best direct mail.

The attention economy demands relevancy and timeliness. The multi-channel approach can be highly effective but, in order to hit home, messages must be targeted and perfectly timed. Quite simply, it is only the most carefully planned and skilfully executed marketing campaigns that stand a chance of making an impression. The attention economy puts more control in the hands of the customer, but this does not mean that the audience is resistant to all marketing communications. In fact, the opposite is true – consumers will be truly enthused by well thought out messages that treat them as valued individuals and talk to them in language that is timely and pertinent.

David Jefferies is marketing communications director at Pitney Bowes