Alas, another year and another great show at AdWeek.
So this brings me to my favourite talk of the week:
Wait for it,
8, 9, 10.
Do I have still your attention?
Good, because the talk was on Generation Impatient. Apparently the average time for someone’s full attention is between 10-16 seconds. Slightly concerning considering a goldfish has a 3 second span.
The presentation, led by HeyHuman (the creative agency), made some very interesting observations.
Traditional marketing is dead and loyalty is finite.
These days many consumers confessed to having multiple relationships with brands and research suggests people are more willing to have a “fling” with competitor brands if their immediate needs are not met.
Uberism has changed everything for the modern day consumer and brands needs to adapt through product innovation.
An American start-up called Cover saw that 90 percent of all property insurance policies ended up getting finalised over the phone. So they created an app that enabled users to take a photo of the property they want insured and Cover connects them to a nearby insurance brokerage. The beauty is that the product is baked into the user behaviour, disrupting a trillion dollar industry overnight.
Rules of Modern Marketing:
- Keep it simple – People really value plain speaking communication
- Increase access – Consumers are everywhere. Brands need to be too
- Actively listen – Address the needs and wants of the market. Technology has made this possible.
Impatience is a mind-set not a generation difference. To win the battle for attention, we need to create relationships people actually want.
Okay, back to the drawing board then.