Archive for the 'Attention Economics' Category

Newspapers and social currency

A brilliant article on Slate recently caught my attention. writes how newspapers gave their readers information to use socially. Kind of like, ‘hey, I know something you don’t'… A sort of social currency.

This role has now been taken over by social media and he points to how social media has allowed more people access to information and to connectivity, thereby alleviating the need for newspapers.

The demise of newspapers it might be, but it reminds me of a great quote…

“The smarter the journalists are, the better off society is. For to a degree, people read the press to inform themselves-and the better the teacher, the better the student body.
Warren Buffett

Now just how smart is the mob?

Pause…

Newsflash

Netcom, PCCW networks are go for Olympics bandwidth

The secret Games

For those pondering about the Games, I have two see-saw contrasting articles for you. The Chinese are throwing large sums of money at infrastructure and propaganda, for which doesn’t seem to fully permeate to the public.

Is this a marketing error or just a softened trend of an apathetic crowd? By strict definition, I guess it is in fact a marketing error (as they failed to follow trend and adjust accordingly?).

No matter - my point lies elsewhere. Once again, excuse my crass nature and jaded outlook. From reading up on the intricacies of the Olympics, I was reminded of something much closer to home - which is of course the whole soccer saga. We all have an idea of how much money is being thrown at the event to make it happen, for which many speculate that it’s going to be major flop. We already have the ever-dull-and-humour-lacking Panarrotis adverts (with other food joints too), shoe companies, radios and good ol’ Coke fetching the idea already…it’s much like Christmas advertisements creeping onto our tubes in September, but on a far more extreme level. I think the marketers are to blame for raping the event by catching the wave too early; lack of tact has never been so vulgar.

Hype.
Who defines hype? What is its key input function? Where are the parameters for’t and how large is its domain? If advertisers aren’t asking themselves these questions every time they dream up something, I sure hope they’d learn to quite soon. Is it possible that Panarrotis (attack number two, muhahaha. I’m really sorry Panarrotis, but you’re the only ones that come to mind at the time of writing this) actually think that they churn out good adverts to the same high advertising standard that we’re used to in South Africa? Maybe I’m the wrong person to ask, as I’m sure these have a prevenient success attached to it amongst other target audiences.
About to push the Olympic Games and the World Cup aside (and all peripheries), I think that there are many lessons to be learned. Is the amount of money you throw at something always proportional to the results? How many of you become discouraged by a bad advertising effort (be it marginal/singular or spam-flood) rather than maintain neutrality? Do all advertisers help with the overall success of an event?

I think we need a revolution of sorts, more companies dishing out awesome adverts per quantity to raise the bar.
The inputs are abundant and my attention (and patience) is scarce - surprise me!

Is Stoooooopidity Going to be Gooooooogle’s Legacy?

To start off my Journey on the Huddlemind Express, I bring you folks this gem of an article (in case you missed it) from the Sunday Times :
Stoooopid … why the Google generation isn’t as smart as it thinks

And for those in the mood for some extra reading, this great Nicholas Carr piece to compliment:
Is Google Making Us Stupid?

Excuse these blatant attacks on our beloved Google, but it really does fall in the sights of a convenient scapegoat/epitomisation of the pitfalls of our new ”attention economy”. The internet revolution broke huge barriers in allowing us to conquer the ivory towers that once restricted us from unleashing our potential; the internet brings us the world to our fingertips, but that in turn leaves our fingertips resting on the world. How many of you were able to read the above articles properly - absorbing the concepts and savouring the prose? Do we have a habit of reading the book, or watching the cheesed Hollywood rendition? Academics find themselves struggling to keep up with the saturation of irrelevant and unmoderated content on the net today and I fear that digesting the digested into digestible chunks is detrimental not only to holding up the proud gates of truth and logic, but (as

”Distraction is the opposite of attention”. Can we still say that our lives are (now) fully optimised in light of technology advances around us? We are like seagulls, jack of all trades and the masters of none, skimming and swooping at bite-sized chunks of data : the days of eloquence, penetration and understanding are being replaced with poorly crafted user generated content of zero veracity.

Amazing, we can emailsmsmakeaphonecalldraftaletterdrinkourcoffee all at the same time!

I’m going to stop myself right there and end my rant prematurely. Do excuse if I come across as bitter or cynical, but I do like to nitpick at polar extremes to expose points as crassly as possible. As industry professionals, field experts and academics alike, I’m certain that you are all open to my message without me even having to garrulously chant it to you - and thus you walk away with a caustic lesson/articled thought to carry with you. The planets know their place, but information does not. Moderation starts with the indivual : the internet is serious business and it’s ‘’success” is up to how we handle it from here on out.

The Future of Social Networking Sites in SA

I was asked by Jeremy and Dave to write a report on where I thought Social Networking Sites were going, especially in relation to business in South Africa, and what follows is what I came up with..

The future of Social Networking Systems in South Africa remains unclear, what is obvious however is that they are having a profound impact across the world and South Africa will have to adapt and adopt them in order to stay connected and on the ball. Most middle to upper class South Africans view SA as a first world country and many of these individuals would have already have joined a SNS such as Myspace and many are already connected via Facebook.

The problem however arises in the fact that, the majority of South Africans are 3rd World citizens who do not own their own computers and most even if they do, a lot will not have access to the internet. What they do have however is cell phones. The mind boggles that many cannot afford fixed line telecommunication but most of the population have access to and use prepaid cell phones. Because of this Mxit became popular very quickly as it allowed people to instant message their contacts for the fraction of the price of sending an sms. I think that this is where the future of SNS’s in SA and the whole of Africa lie, in cheap and easily affordable connections through cellular devices.

Businesses need to realize that these are money cows, literally waiting to be milked; the marketing that will be available is endless as it allows for instant connections with your direct target market, unlike the old methods of television, radio and print, which were all expensive, time consuming and could never guarantee a particular market of people. The internet affords businesses the luxury of “cheap” marketing, by way of bloggers promoting their goods and services, but now also through SNS’s where a target market can easily be found and the advertising aimed directly at them. Particularly in SA where English is not the first language for the majority of the population a SNS, if it is to reach a large portion of the people, would have to be in either Xhosa or Zulu, and be targeted and marketed correctly. There is no point in trying to sell an Americanized/Westernized product when this is not culturally relevant to them. If a SNS is developed and is easily available to the masses, cheaply and efficiently it could spark some what of a cultural revolution. (Mxit’s slogan is “Join the Evolution”) Those who were once disenfranchised being able to hold the power as together they would be a very powerful tool for businesses to market and sell their goods and services through.

“Like radio, film, and television before it, but to a much greater degree, the Internet has the potential to absorb the fringes of culture and translate and package them for the masses. MySpace does that better and faster than any Web site yet concocted, better and faster than anyone could have imagined even five years ago. MySpace is like a direct conduit to future trends, a high-speed connection to the next big thing.” (Vanity Fair- “Will success spoil Myspace?”) I think this is true of all SNS that are currently available and for all future ones that are yet to be invented I think this will have to remain true for them to succeed and have any sort of relevance in our everyday lives. The possibilities for the future are simply endless!

Social media research

I have been a long time fan of Danah Boyd and I recently saw on PSFK theat she has updated her list of research on social network sites and social media.

The articles are fantastic and range from the emergence of hyperfriends to privacy issues and the Fourth Amendment. Luckily there is an excellent overview here as the amount of information is mind-blowing…

Living Systems

More and more enterprises are using social networking systems to run various areas of their businesses. Project management programs are taking over from project managers and my Remember-the-Milk is working nicely as a kind-of-seceretary.

But when implementing or designing a system there are a few things one has to take into account.

  • What is the purpose of the system?
  • What maintenence does it need?
  • What will it cost? (both in setup and training costs)
  • How user-friendly is it?

I recently came across a very interesting article on masternewmedia on social network design. The article, Social Network Design: The Network Is A Living System, Design It As Such says that it is possible to apply living systems design to social networks.

They break down the living system into the four key components. It is interesting to see how they correspond to a social system.

  • The Boundary
  • The Processes
  • The Nervous system
  • The Communication Channels

Changing the Way We Think

I recently picked up on an brilliant article by Nicholas Carr on how the internet is changing the way we think. The article, Is Google Changing the Way We Think is an amazing insight into how the internet is rewiring our brains.

He says “Once I was a scuba diver in the sea of words. Now I zip along the surface like a guy on a Jet Ski.” It seems too much information is reducing our reading pleasure, or at the very least giving our brains massive information overload.



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