One of your most valuable assets in the marketplace today is attention. Those who win the most in business generate the most attention.
Every business is the same in some respect; it needs a steady supply of customers to flourish. And once it has the customers, it must devise ways to keep them and also keep attracting more for sustainable growth. This requires the art of drawing the customers’ and prospective customers’ attention, and also keeping the attention coming ceaselessly.
Attention is a monetizable value
We all are in the attention business. Every penny that comes to you follows the weight of the attention you have generated in the marketplace. In other words, the cash flowing into your business presently is in direct proportion to the quality of attention you are getting.
The attention is more like a derivative currency which you can monetize by converting it into tangible cash or revenue. Attention is where the real money is in the new economy. Money flows where attention goes.
Attention is a monetizable value, and it pays to master the art. There is a direct correlation between the amount of attention a business gets and the profit it enjoys. The more of attention you have the more profitable your enterprise will be. So, in today’s business environment, attention is money; big money!
Attention is a scarce commodity
Every business lives and grows on attention. Whenever you enter into business, your primary duty is to produce attention (with a corresponding ripple effect). Enterprises that pay millions of dollars in form of advert and marketing to get market attention know what they are doing.
Challengingly, attention is one of the world’s scarcest resources. It is so scarce that people can pay any amount wherever they can get it. No enterprise can say that it has had enough of the market’s attention.
The market will keep competing for it, and those who know how to engender enough of it smile to the bank. While those who don’t may finally struggle.
The market war is on the attention
What most businesses are competing for day in and day out is nothing but attention. But the quality of attention you are getting comes from what and how you are communicating to your target market.
It requires skill, creativity, and mastery to send the right message, and to keep expanding the scope of your attention-sphere. The higher the number and quality of those you have in the sphere, the stronger your business strength, position, and market presence.
For instance, those we celebrate in our society are people that have uncommon attention from the media (and by extension from the public) than an average person on the street or within that locality. That is why they are more known and you are not.
In the same way, to run a celebrated business, it has to get unusual attention in the marketplace better than those of the competition. It is only then that you can enjoy the market blessings.
About the Author
Tony Ajah is a Business Growth Strategist, and the author of BUSINESS SENSE, and ON BECOMING AN ENTREPRENEUR.
He maintains a personal blog, where he shares proven business ideas and principles for SMEs.