Engagement in the Attention Economy: Data Exchange and New Formats
A presentation to the Bazaarvoice "Social Commerce Summit" (http://www.socialcommercesummit.co.uk) in London, November 2008. This presentation built upon my address to the e-consultancy.com "Future of Digital Marketing" conference, taking a particular look at how data and data exchange underpin not only social commerce on the web, but lead to greater insights as the 'network effect' takes over. The 'data evolution' is outlined as: • Data evolution – accurate – enriched – meta – actionable – mashed – semantic – autonomous & - predictive (Slide 6). Two trends come together: 1) better data (eg behavioural and attention/behavioural profiling), and 2) freer exchange (eg via standard like APML and microformats). The implications from these trends are that: - you only see part of the picture - the _customer_ only ever sees part of the picture - the complete picture is both 'in the network', modal and contextual - this openness and exchange at a data level also requires new business approaches - the battle for businesses is to get the maximal share of (qualified, appropriate, profitable) attention. Please contact me if you've any questions on this, or the links to sites/services cited are not clear.
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Engagement in the Attention Economy: Data Exchange and New Formats
- 1. “Engagement in the Attention Economy” Social Commerce Summit: London, November 2008 www.ianjindal.com
- 2. • Beyond 20th Century Marketing. If we can’t interrupt, what can we do? • Limiting factor in broadband age is time. Time = attention • Data + exchange -> the ingredients for new engagement • Data evolution - more meta... hypo? • Exchange formats - APML • The network effect: place and power. “Engagement in the Attention Economy” Social Commerce Summit: London, November 2008 www.ianjindal.com
- 3. • 4Ps – Product, Pricing, Promotion, Placement • 7Ps – (people, Process, Physical evidence) • “New” 4Ps – Personalisation, Participation, Peer-to-peer, Predictive Modelling • SIVA – Solution, Information, Value, Access “So last century”
- 4. • The house of many charms • Build it and they will come • Portals, outbound marketing... noise. Lipstick on a pig
- 5. Journey towards the customer Data and activity
- 6. • Data evolution – accurate – enriched – meta – actionable – mashed – semantic – autonomous & predictive Small revolution - data
- 7. • Segmentation and metadata for increased relevance. • “Behaviour” is useful metadata - if you can capture it - ‘ignore ratio’? • Capture offline as well as online - warranties... Metadata
- 8. • Turning metadata into a new service • Linking to commerce Metadata - new services
- 9. Moving beyond the site Data is Action - “doing” not “viewing”
- 10. • Making Social Networks “transactional” • You can “do”, not just “view” • From web to desktop • Web to web Microformats
- 11. Microformats
- 12. • In action... • Google - hCard format added to Search results. • One click to add the result to your address book. • Could do the same with calendar items, or recommentations Microformats
- 13. The network: more is more
- 14. • Reviews • Meta-reviews • Ambush Network effect - early examples
- 15. Not just on your site...
- 16. APML
- 17. • Attention XML • What you look at, do, note, store, act upon.. • eg Amazon profile • Particls/ RescueTime • Impact on LinkedIn? Recommend- ations? • Passive preferences can be made active (eg watchlists and preferences). APML - In action
- 18. • XML • Mashed and changed like other feeds and sources • Some level of pre-processing and ‘semantic’ structure... • Tastebroker.org Show me some APML!
- 19. • RescueTime - personal monitoring across all applications • Fed to website • Could take an APML feed, filtered for shopping tastes? Research needs? Show me some APML!
- 20. Show me the money!
- 21. • Phorm • OIX • Mashup of data - above and beyond a single customer, advertiser, publisher or even ISP/network. • Mega meta Mega Meta
- 23. Next?
- 24. • GTD approach, based on ‘contexts’ • iPhone “knows” some of your contexts (eg near grocery store) • TomTom... • Data + exchange + preference + processing... Meaning and location leading to action...
- 25. • You only see part of the picture • The customers only see part of the picture • Some aspects of ‘social’ are human, but others are machine - ‘spooky’ • Cost of interaction = cost of doing business • Openness and exchange - requires new business approaches • Even on ‘your site’ you’re no longer safe • The battle is for a share of attention Commercial Challenges