Market Opportunity
Internet is a market place for attention, and competition for attention is growing exponentially. Three key challenges are presented in the current attention economy:
Declining Effectiveness of Traditional Advertisements
The global digital advertising market is projected to reach $1Tn by 2028, yet capturing consumer attention is increasingly challenging. With average click-through rates for display ads at a mere 0.1% and 42% of internet users employing ad-blocking technology, traditional advertising methods are losing effectiveness. Brands urgently need innovative ways to cut through the digital noise and create meaningful connections.
Waning Loyalty Program Engagement
Despite sophisticated targeting, loyalty programs often fail to drive genuine engagement, with 54% of loyalty memberships inactive. Consumers are seeking more than just products; they want authentic experiences and tangible value from their brand interactions. This misalignment represents a significant opportunity for brands that can deliver real value beyond traditional marketing approaches.
Exploitation of Consumer Data
With 81% of consumers expressing concern about data privacy and usage, there's a growing unease about how personal information is handled. Simultaneously, consumers are becoming aware that the value derived from their data is largely extracted by media companies, leaving users with little control or benefit.
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