The Attention Economy

When brands like Outdoor Voices launch a new content platform it gets us thinking about retail-brands-turned-content-creators and begs the question: who is the winner in the attention economy? Do brands have what it takes to create engaging and timely content? Listen now! ##Main Takeaways: In today's brand economy, everyone is expected to be a storyteller and have content play a large part in their retail strategy.  Brian and Phillip use their own experience as a guide and describe the qualities it takes to be a successful content creator.  In some cases, content is dictating how product is being created so brands that master their content game are becoming majorly successful. Strategy is an integral part of achieving your goals and it takes a specific skillset to combine strategy with brand development. ###The State of Content: Everyone Has to Be a Storyteller: Outdoor Voices is launching a storytelling marketing platform called The Recreationalist that is positioned around showcasing the fun in outdoor activities as opposed to most outdoor brands that focus on performance. Brian states that we are at the peak content level period where every brand needs to be a storyteller and everything is content.  The way we are consuming content has changed dramatically in the past ten years and we are more willing to put our focus on content that is current and innovative.  Creating content consistently is a large commitment that extends past just being employed at a company. ###The Lasting Content Creator: Avoiding Creative Burnout in A Demanding Climate: Given their standing as "authorities" on the subject, Brian and Phillip describe the perfect combination of qualities that allows someone to be a consistent content creator. (Strangely it sounds like they're reading their own biographies. Imagine that.) You can't have a strategy without a goal, and everyone on your team should know what that strategy is and have a clear direction on how to achieve it.  Creating content in a particular media takes a different skill set that might sometimes conflict with your ability to be a successful retailer.  If you're going to get into the content game, get in with both feet and don't just try to do it halfway. ###The Shifting Tide: Content is King: In the attention economy, most brands are competing for the same groups of content consumers so these brands must stand out from their competitors.  Brian recently heard a VP of Product at a large furniture retailer say that it's better to create content, see how that content performs, and then create a product that fits that content.  "People want to quantify that you're spending has a direct return but when you're creating content, what you're spending on is brand." Aggregating the listeners or consumers of your content is a challenge because they are coming from such disparate places across all channels. ###What's On the Horizon?: A Sneak Peek at the Future of Future Commerce: Phillip is excited to announce that Gladly is now a sponsor of the show and to check out last week's episode with Charlie Cole and Joseph Ansanelli. (Welcome to the family!) In the most recent issue of Chips + Dips, aperitif culture was examined and Phillip suggests that Future Commerce could be your retail aperitif. (That was a stretch...) Brian thinks that the world is ready for a canned Gin & Tonic and has an entire five-year strategy for this plan.  (Well this episode derailed fast.) Phillip teases that Ishani Gujral from Madrona Venture Labs will be making an appearance on the show soon to talk about how they approach ideation and how they help founders launch new companies. Brands Mentioned in this Episode: Outdoor Voices Gladly Madrona Venture Labs As always: We want to hear what our listeners think! How can you use content to identify a trajectory for your message and brand? Is outsourcing a content creator a good expenditure of funds? Let us know in the content section on Futurecommerce.fm, or reach out to us on Twitter, Facebook, Instagram, or Linkedin. Have any questions or comments about the show? You can reach out to us at [email protected] or any of our social channels; we love hearing from our listeners! Retail Tech is moving fast, but Future Commerce is moving faster. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.