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to the commercial in the form that you want, you are being compensated by being allowed to watch the show for free This is a very different model than Apple s iTunes, which sells the content commercial free for between $199 and $299 per episode What the Hulu model is doing is buying your attention They know your name through the registration on the site, but they recognize that having your name and you watching a commercial doesn t mean that you re a qualified lead It means you gave them consideration Period Compensation for attention is something that is not only being considered, but has to be considered The rather old-fashioned idea of pay them for their time is becoming pay them for their attention There are companies that will give you free things cell phone minutes, ad-free music if you view their ads for X amount of time There is a model for online revenue sharing that even Microsoft is looking into There is a service called Scoopt Words that operates as a blogger agent that will get companies to buy what bloggers are saying for commercial use and then split the revenue stream, which sounds kind of nice for bloggers, but not exactly in the spirit of the blogosphere The music industry has had an ongoing discussion (which may go nowhere) around attention compensation, driven by music piracy The idea would be that rather than trying to prosecute or scare or harass someone who downloads a music file illegally, give them the music in return for them viewing a 30- or 60-second ad Once the ad has been completely viewed, they get the music While that may never go anywhere, it points to how serious the competition for attention really is There are nascent metrics to measure the attention too They re called engagement ratings and they re primarily focused around TV at the moment Not exactly a big surprise They re being used to figure out what programs to advertise on Also not a big surprise and sadly typical of the TV world new metrics, old reasons Engagement ratings are the equivalent of stickiness on a website It s not just whether you have a large audience; it s whether that audience is willing to continue to lavish its attention on you and your advertisers Myers Emotional Connections research in 2007 showed that Fox News Channel topped the viewer engagement ratings with positive engagement ratings in four categories by 80 percent of its viewers But it dropped to 21st place and 30 percent (for two categories) when it
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CRM at the Speed of Light: SoCiaL CRM StRategieS, tooLS, and teChniqueS foR engaging YouR CuStoMeRS
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came to advertising engagement What this can be interpreted to mean is that the audience was riveted to Bill O Reilly and made a sandwich during the ads (I d be the other way around) Despite the particulars here, what s important about the Myers work is that they re doing some of the first research and measurement of level of attention and what it takes to gain that attention which precedes even lead generation But attention-getting can go overboard There are devotees of what is called the attention economy They actually think that attention capture can literally replace money Meaning that you will spend your attention time (in a manner of speaking) instead of your national currency in return for goods and services You heard me Yes, really Lead generation from the marketing side comes when you have gained and kept the attention of your potential customers but I wouldn t go overboard with this either
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Marketing never gets respect (we miss you, Rodney Dangerfield) Never ever Never ever ever Know why Because marketing is viewed by the company as an expenditure with no immediate tangible return Marketers are viewed by the customer as a nuisance They are viewed by people like me as a department that presumes for the customer and doesn t really know what the customer is actually thinking, which is often true It s even truer now because the stakes are higher, the expectations and demands of the customer have increased and their hunger for being contacted in multiple ways the ones of their own choosing is greater than ever But that doesn t negate the value of traditional marketing especially when it s used in combination with new marketing approaches For example, the conversion rates in e-mail marketing are still between 2 and 5 percent Good numbers there A study in May 2009 done by Internet marketing small-business legend Hubspot took a look at the effectiveness of traditional press releases as opposed to social media press releases It found that the traditional media releases were considerably more effective in syndicating The typical ratio was about 5:4 in favor of the traditional press release when it came to the number of places it was syndicated The only time the ratio was
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