Our attention is so valuable – that’s the one main point I drew from this weeks lecture. With the mass amount of social networking sites fighting for your attention, views, shares, likes and comments a new form of economy has formed. An economy of attention, which trades and grows with your likes, shares, comments, along with your content and what not.
This economy is abundant. The plentiful aggregation of content cries for more specific content. This introduces the concept of niche content.
The notion of niche content ties into the Long Tail effect. The Long tail effect in Anderson’s words looks at less popular goods that are in lower demand. Anderson then believes that these niche goods can increase in profitability as consumers dwell away from conventional markets.
For example, think of vegan e-cookbooks. A vegan diet is not a common practice for the average Joe. However, for the segment of consumers that are vegan, and would be after vegan e-cookbooks, that these individuals within the market are dedicated consumers.
This is where the element of attention draws back in. Take for instance Freelee the Banana Girl. Freelee, the Vegan youtuber practically sells/exposes herself, her brand, her lifestyle while broadcasting online her views, opinions and tips on a vegan lifestyle to foster the exposure of her vegan e-cookbooks (oh, and her message of veganism as well). Ultimately, the more views she gets, the more likes, comments and shares, the more exposure she receives, and finally, higher chance of sales. Our attention becomes a commodity. And it clearly works in Freelee’s favour too.