Share of attention

For many years, companies focused on gaining share in a broadly defined market. Corporate mission statements often included phrases such as “become the undisputed leader” or “be recognized as the leading provider of X.” If you were General Electric you would exit a business segment if you could not obtain the #1 market share position (or at least a strong #2 spot).

Over time, some companies became increasingly customer-centric and started to identify more tightly defined target customer segments. Their focus became growing “share of wallet” to become their customers most preferred source of whatever it was they were selling.

While these notions remain important, a new concept is emerging, and while more difficult to measure, it is essential that brand leaders and marketers embrace it.  I call it “share of attention.”

Consumers are faced with more and more demands for their time and attention. The literal and virtual mountain of e-mails, text messages, direct mail, billboards, banner ads and TV and radio advertising isn’t going away any time soon. The more time people spend on Facebook, Twitter and other social sites interacting with their “friends”,  the less likely they are to engage with you and whatever it is you are selling. Yes, there is an app for that, but it’s fighting to be used with all the other apps on your customers’ smart phone or tablet.

As Seth pointed out way back in 1998, “Permission Marketing” is almost always superior to “Interruption Marketing”, but now it’s harder and harder to even get noticed–much less start building a relationship–in the growing omni-channel Blur.

The first step in building a “share of attention” growth strategy is to accept that without your customers’ attention you cannot begin to engage with them. And without engagement there is no chance to build a relationship, much less sell anything. The second step is to understand what captures your customers’ attention and why? Without awareness and insight there can be no action.

So now do I have your attention?

Author: stevenpdennis

Steven Dennis is a trusted advisor and thought-leader on customer-centric strategic growth and innovation. As President of SageBerry Consulting, he applies his C-level executive experience to drive growth and marketing strategy for multi-channel retail, e-commerce and luxury industry clients. He shares his ideas and wisdom regularly in the press, as an industry speaker and through his popular blog "Zen and the Art & Science of Customer-Centricity"( Prior to founding SageBerry, Steven was Senior Vice President of Strategy, Business Development and Marketing for the Neiman Marcus Group. As a member of the Executive Committee he drove the company's major growth initiatives, multi-channel marketing programs and customer insight agenda. Before joining Neiman Marcus, Steven held leadership positions with Sears, including Acting Chief Strategy Officer, Lands' End acquisition integration team leader, Vice President-Multichannel Integration and General Manager-Commercial Sales. Earlier in his career he was with NutraSweet and the global management strategy consulting firm, Booz & Co. Steven received his MBA from the Harvard Business School and a BA from Tufts University. In addition to his consulting work, Steven is an executive-in-residence at the JC Penney Center for Retail Excellence at SMU’s Cox School of Business, President of the DFW Retail Executives Association and serves on the Advisory Boards of Invodo Inc. and Nectar Online Media. He is also active in the social innovation and education reform arena as a Partner and member of the Board of Directors of Dallas Social Venture Partners. He is currently co-leader of DSVP's investment and engagement with SMU's Center on Communities and Education "School Zone" initiative in West Dallas.

19 thoughts on “Share of attention”

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s