Attention arbitrage. A somewhat new name but a familiar concept. So what is it?
Arbitrage is the process of buying and selling in different markets and benefiting from the profit. Attention arbitrage flips the focus from monetary value – to people’s attention, a somewhat rare commodity. Attention arbitrage focuses on how to attract and keep people’s attention in a world of rapidly decreasing attention spans.
The Telegraph published a recent article that places humans with a lesser attention span than a GOLDFISH. Yes, you read that right. A GOLDFISH. And the reason why? Smartphones.
A study on 2000 Canadians found that our attention spans have decreased from 12 seconds to a mere 8. Now apart from the global ramifications this has as a human species, this also means more work for marketers to capture the ever-declining attention spans of their customers.
So now the real task is in finding out how to grab those precious 8 seconds of attention…. Better be quick….
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