4 bottom lines of the Internet economy: participation, engagement, attention, content = ads
This, below just became clear to me this morning, on the 6.50 am flight from Basel to London (airplane trips always make good occasions for lofty thoughts I guess):
- People nowadays seem more keen to participate than to just consume - quite a stunning reversal if compared to mass media traditions. The culture of participation is spreading very quickly. See: flickr, youtube, blogs, twitter,
Image by gleonhard via Flickrwikipedia, amazon ratings, digg...
- People are much more likely to check out, and maybe even like, a brand (or their advertising) when they are being engaged rather than marketed-to (i.e. yelled-at). See: Nike+, Bacardi & Groove Armada, Dell Idea Storm, Comcast on Twitter etc
- Attention is becoming more scarce by the minute (maybe even more so than time), and as a result attention-data -what do I where, how, with whom, when - is becoming more valuable as well. 'Paying with attention' will become a real option once a) content becomes available on the basis of attention-revenue sharing, b) new forms of advertising (yes, call it 2.0;) that can exploit this data are becoming more mainstream. Watch this video from my talk at Google UK, to find out more.
- Content will become completely mashed up with Advertising. Since, as Cory Doctorow said back in 2006 (!), Conversation is King - not just Content, we will see more and more innovative advertising based on sponsorship and product placement concepts injected into conversations around content - after all, this is what social networks are all about!