The Intention Economy: When Customers Take Charge by Doc Searls
I’m only about one-third of the way into the book but finding no shortage of notable and quotable nuggets. In no particular order:
“Likewise, rather than guessing what might get the attention of consumers —or what might “drive” them like cattle—vendors will respond to actual intentions of customers. Once customers’ expressions of intent become abundant and clear, the range of economic interplay between supply and demand will widen, and its sum will increase. The result we will call the Intention Economy.”
“This new economy will outperform the Attention Economy that has shaped marketing and sales since the dawn of advertising. Customer intentions, well expressed and understood, will improve marketing and sales, because both will work with better information, and both will be spared the cost and effort wasted on guesses about what customers might want, flooding media with messages that miss their marks. Advertising will also improve.”
“The volume, variety, and relevance of information coming from customers in the Intention Economy will strip the gears of systems built for controlling customer behavior or for limiting customer input. The quality of that information will also obsolete or repurpose the guesswork mills of marketing, fed by crumb trails of data shed by customers’ mobile gear and Web browsers. “Mining” of customer data will still be useful to vendors, though less so than intention-based data provided directly by customers.” — Page 2
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“It’s an eyeball bubble. Investments in tracking-based advertising assume impossibly high values for customers attention.” — Pg 41
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“Now imagine you’re back in 1982. Somebody tells you that in twelve years, the world will adopt a new communications system that nobody owns, everybody can use, and anybody can improve. The system will be all-digita and will provide ways for anybody ro communicate with anybody, anywhere in the world, and to copy and share anything that can be digitized—including mail, print publications, music, radio streams, TV programs, and movies at costs that approach zero. Would you believe it?” — Page 94
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“Like the universe, there are no other examples of it (the Internet), and all our understandings of it are incomplete.” – pg 96
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“To become totally personal, advertising needs to cross an existential bridge, to become a different corporate function. It must become sales – without the human sound or the human touch.” — pg 41
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“We can’t ignore the huge numbers of people who live within our on the shores of the fast money river that flows through advertising, especially online. And it won’t stop until the bubble pops.” -pg 39
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It’s easy to forget that the term branding was borrowed from the cattle industry. The idea was to burn the name of a company or product on to the brains of potential customers.”
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“In the United States, the typical hour-long American TV drama runs forty-two minutes. The remaining eighteen minutes are for advertising. Half-hour shows are twenty-one minutes long, with nine left for advertising. That’s 30 percent in each case. The European Union sets a limit of twelve minutes per hour for advertising on TV, which comes to 20 percent. Ireland holds broadcasters to ten minutes per hour, or 16.7 percent.”
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