Podcast Summary: The Attention Economy: Why Not All Reach Is Equal with Karen Nelson Field

Podcast Information:

• Title: Uncensored CMO
• Host: Jon Evans
• Guest: Dr. Karen Nelson Field
• Episode: The Attention Economy: Why Not All Reach Is Equal
• Release Date: January 29, 2025

Introduction to the Attention Economy

In this insightful episode of Uncensored CMO, host Jon Evans engages with returning guest Dr. Karen Nelson Field, a renowned expert in measuring attention. Dr. Field recently released her book, The Attention Economy, which delves into the evolving landscape of marketing in a fragmented media world.

Jon Evans [00:06]:

"One of the primary jobs for every marketer is to capture the attention of your audience. And in today's media fragmented world, that is harder and harder than it's ever been before."

The Importance of Attention in Marketing

Dr. Field emphasizes that attention is a critical metric surpassing traditional reach. She argues that without capturing genuine attention, advertising efforts may not translate into meaningful engagement or brand growth.

Dr. Karen Nelson Field [04:18]:

"Attention matters. Turn off your advertising and then come back to see how your brand's going. This is not new information that people need to see your ads."

Passive vs. Active Attention

A significant portion of the discussion revolves around the distinction between passive and active attention. Passive attention occurs when consumers unconsciously register an ad while engaged in other activities, such as walking past a billboard. In contrast, active attention involves deliberate focus and engagement with the content.

Dr. Karen Nelson Field [04:25]:

"Active attention... focuses on something to learn something. Whereas passive attention is unintended or subconscious..."

Measuring Attention Effectively

Dr. Field critiques traditional metrics like Cost Per Mille (CPM), labeling it as "cost per meaningless thousand." She explains that CPM fails to account for the quality of attention, leading to inefficiencies in advertising spend.

Dr. Karen Nelson Field [08:05]:

"CPMs are probably too low relative to their impact. The CPMs that are already cheap are probably not cheap enough."

She introduces advanced measurement techniques that differentiate between served and seen impressions, highlighting that a significant percentage of digital ads do not capture sufficient attention.

Dr. Karen Nelson Field [20:24]:

"Served versus seen... you can buy a thousand impressions here and a thousand impressions there, but the level of seen versus served is vastly different."

Linking Attention to Memory and Outcomes

The conversation delves into how attention correlates with memory retention and broader advertising outcomes. Dr. Field references the "switch cost effect," where frequent switching between tasks can diminish information retention.

Dr. Karen Nelson Field [09:49]:

"The more switching you do, the less likely you are to retain information."

She also discusses how attention influences long-term brand recall and business metrics like conversion rates and profitability.

Dr. Karen Nelson Field [13:01]:

"We've connected our ad tech to increases in conversion of applications, more web traffic, and improved profitability."

The Flaws of Traditional CPM Metrics

Dr. Field highlights the discrepancies in how different platforms report impressions, leading to inconsistent and unreliable advertising metrics.

Dr. Karen Nelson Field [09:38]:

"CPM is one of the hardest hitting metrics given what we deal with at the moment in the measurement ecosystem around attention."

She advocates for a shift towards metrics that account for the quality and volume of attention, rather than just the quantity of impressions.

Industry Evolution and Future Directions

Discussing the future of marketing metrics, Dr. Field expresses optimism about industry standards evolving to prioritize attention-based measurements. She credits recent initiatives by organizations like the Media Rating Council (MRC) for moving the industry closer to standardization.

Dr. Karen Nelson Field [25:23]:

"The MRC have stepped in this year... we're ready for metrics that are simple for advertisers to understand."

Implementation and Optimizing Media Plans

Dr. Field outlines practical applications of attention measurement in media planning and optimization. She describes tools and platforms that allow marketers to adjust their campaigns in real-time based on attention metrics, ensuring more efficient and effective use of advertising budgets.

Dr. Karen Nelson Field [29:21]:

"We have optimizers and SaaS platforms where you can upload your media plan and then optimize to different objectives or optimize to more or less attention using CPMs."

Closing Thoughts and Future Growth

Concluding the discussion, Dr. Field shares insights into the growth and expansion of her company, Amplified Intelligence. She highlights the strategic appointment of a new CEO to drive the business forward and the expansion into multiple markets, including the UK, US, and Australia.

Dr. Karen Nelson Field [32:42]:

"We've built it so that our product is absolutely spot on in terms of it works... we're across three markets, so we're in the UK, the US, and Australia. It's going really well."

Notable Takeaways

• Attention Matters: Shifting focus from mere reach to capturing genuine attention is essential in today’s fragmented media landscape.

• Quality Over Quantity: Traditional metrics like CPM are inadequate; attention-based measurements provide a more accurate assessment of advertising effectiveness.

• Active vs. Passive Attention: Understanding the difference helps in designing campaigns that engage consumers more meaningfully.

• Industry Standardization: Ongoing efforts by industry bodies are paving the way for standardized attention metrics, enhancing reliability and comparability.

• Practical Tools: Advanced ad tech solutions enable real-time optimization based on attention metrics, improving campaign outcomes.

Quote Highlights:

• Jon Evans [00:06]:

  "One of the primary jobs for every marketer is to capture the attention of your audience."

• Dr. Karen Nelson Field [04:18]:

  "Attention matters. Turn off your advertising and then come back to see how your brand's going."

• Dr. Karen Nelson Field [08:05]:

  "CPMs are probably too low relative to their impact."

• Dr. Karen Nelson Field [13:01]:

  "We've connected our ad tech to increases in conversion of applications, more web traffic, and improved profitability."

• Dr. Karen Nelson Field [25:23]:

  "The MRC have stepped in this year... we're ready for metrics that are simple for advertisers to understand."

This episode offers a comprehensive exploration of the Attention Economy, underscoring the necessity for marketers to prioritize attention over traditional reach metrics. Dr. Karen Nelson Field provides both theoretical insights and practical tools, equipping listeners with the knowledge to navigate and thrive in the evolving landscape of marketing.