The most valuable real estate in the world is arguably the small area on the home screen of every consumers smart phone that the logo of any app occupies. It’s highly valued because of what it takes for an App to make its way onto the short list from an infinite list of all possible options, to be one of the phone owners most used services.
If that’s true, then using a similar rationale, we should recognise that every moment a person spends looking at your content instead of something else, among an infinite array of options, is – priceless! In New York or anywhere else…
Here’s a question: If we add up all the money spent by all the suppliers, services and people trying to get the attention of the same people you’re targeting, how much is one minute of target audience attention worth?
Of course there are many ways to put a value on the answer to that question, be it in sales or donations, awareness or goodwill generated, information dissemination, desire and interest in a brand or establishing a brand value, but lets do the math.
It’s estimated we’re exposed to an average of 5,000 commercial messages a day, so if we were to add the cost of all those messages that target, but don’t capture the attention of their target people, we can begin to appreciate the value of a minute for the messages that do.
While audience decline is decreasing the value of an advertisement on FTA broadcast television, message saturation is diminishing the value of digital content. At least television has a finite inventory of advertising opportunity, but as everyone clambers onto the digital highway, digital as a communication channel is reaching saturation point. We just can’t absorb every message from everyone we follow, every email we receive, every Like that we see and every post that we like.
People have a finite amount of time to find and engage with content online and the cut-through challenge begins with the sheer randomness of discovery that is inherent in social media. It makes relevance, relationship and referral essential and it gives GREAT content, content that’s relevant, valued and generates connection a very high value.
If you’d like to make every marketing dollar and every moment of your marketing investment count, contact Wanted Consulting – Reward Offered.