Rocket Fuel : Sep 22, 2017 | Finding Brand Moments in the Attention Economy

By Alicia Mickelsen, Director, Marketing

Today's consumer owns an average of three to four connected devices and has an average of seven social media accounts on which they spend a total of at least two hours a day, according toGlobalWebIndex. And while in the 1970s we were exposed to around 500 brand and advertising messages each day; today we're exposed to an average of 5,000 messages a day, says marketing firmYankelovich.

Welcome to the Attention Economy.

But that begs the question, what, exactly, is the Attention Economy?

Attention Economy is an environment where consumer attention is the resource. This resource is an increasingly scarce because of media overload, the amount of places we can receive messages and the flood of content we receive every day.

This new Attention Economy presents brand marketers with a huge challenge. Although they have channel and reach like never before, finding that receptivity has never been harder. A large portion of digital ads are never seen, or they are ignored. Attention is the most powerful currency in the world of media and marketing.

How, then, can marketers succeed in the Attention Economy? We need to rethink how we evaluate media effectiveness, going beyond simple reach and impressions to find their consumers' 'brand moments'.

What are Brand Moments?

Brand moments are authentic connections that are created in ideal context when consumers' receptivity is high. Ultimately, they drive meaningful engagement between a brand and consumers. But how do you strike when receptivity is high? Finding and capitalizing on receptivity requires knowing three key things:

• Audience that you're reachingIs your message tailored to the consumer based on who they are and what brand touchpoints they have had in the past?
• Context of where your ad will appearIs the ad placement likely to capture attention? Does it align with your brand image or objective?
• Consumer engagement factorsIs this the right moment to reach that consumer, based on when, where, and how they engage with ads?

It may seem easier said than done, but there's good news. Seizing on moments of receptivity in the Attention Economy doesn't require guesswork.

Big Data is the Key

Today, digital audiences generate enormous volumes of data that make it possible for marketers not just to understand and predict who and where audiences are, but also to identify the moments when they are most receptive. The trick is having the tools to manage this huge volume of data and also make sense of it all. In order to do so, you need to:

• Process billions of signals per day
• Recognize the unique patterns of engagement for each consumer
• Learn and adapt in real time as the media environment and consumers constantly evolve

For more on how the improve your data assets, check out my colleague Bill Searsblog.

Artificial intelligence (AI) and machine learning are uniquely suited to solve these challenges. So, how can AI make it happen?

Finding those Brand Moments

To anticipate and deliver brand moments, Rocket Fuel's AI uses three components. First, our marketing clients define their target audience - which can be defined as a broad demographic or only those who are interested in buying your product. Bringing together online and offline data to provide a complete picture of consumers in that audience, Rocket Fuel's platform builds a robust map of the consumer journey across devices and across multiple channels including video, display, mobile, social and TV.

Second, together we define where you would like to engage your audience and what's your objective by incorporating KPIs, budget and efficiency goals to make sure your dollars are invested in the right places. Rocket Fuel's platform supports multiple advertising goals.

Finally, our AI dynamically optimizes these goals in-flight to deliver maximum ROI by balancing reach, efficiency and impact of your media budget across thousands of potential placements.

Although Rocket Fuel solutions draw from complex, sophisticated AI technology, applying these solutions is easy - either through managed services or a self-service option.

With powerful digital branding tools at your fingertips, you get the innovation, precision, and power to deliver receptivity to win in the Attention Economy.

Download the Attention Economy Infographic Now