Attracting Customers in a Distracted World
E-Book, Englisch, 213 Seiten
ISBN: 978-3-593-45390-3
Verlag: Campus Verlag
Format: EPUB
Kopierschutz: Wasserzeichen (»Systemvoraussetzungen)
Oliver Pott, PhD, professor for entrepreneurship, has founded several digital companies and teaches in Paderborn. He has sold one of his companies directly after its founding to a French corporation. The editors of Founder's Magazin listed him as one of the top 30 of German company founders.
Weitere Infos & Material
The three dimensions of valuable visibility
The previous chapter has shown that the concept of smart visibility is replacing loud, low-value visibility. Smart visibility is any visibility that customers, on the one hand, like to see and so is not perceived as annoying but rather as an interesting gain, and that, on the other hand, leads them to buy. Visibility needs three dimensions for this to work, and only in the combination of these is worthless visibility turned into high-quality, smart visibility: Relevance. Only topics that are interesting to your customers will ultimately lead to purchases. A parrot owner, for instance, may be annoyed by repeatedly seeing dog training content because it is irrelevant to their interests. Instead, something that shows them how to train their parrot to speak could be of great relevance to them. A migraine patient has no interest in information on how to deal with tinnitus or rheumatism: both do not pertain to their pain history. However, they are very interested in soothing their migraine due to its impact on their lives. Digital channels of visibility such as TikTok or Instagram have made it one of their highest priorities for their algorithms to present users with individually relevant content. Authority. If the relevance criterion applies (then and only then – the other criteria do not work without relevance), people listen to role models above all else: to authorities. So, for instance, the migraine patient will trust a neurologist who specializes in said migraines. Or they listen very carefully to a person who is themselves a migraine patient and has managed to take control of the disease. In both cases, this adds the sender’s authority to relevance. Storytelling. People highly value stories and entertainment – large markets such as those for novels or Hollywood films function exclusively on the basis of a (mostly fictional) story. This, in combination with the first two criteria, is like an amplifier for smart visibility. The combination of these three dimensions in an as large an overlap as possible creates smart visibility, which, as a direct consequence, is followed by a product purchase. Visibility needs relevance
Who would ever watch 447,000 videos on any topic, for instance, in order to understand investment opportunities? And who would ever look at 227 million websites to find out how to become an author? Admittedly, every single video creator and every single runner of a website, blog or just Facebook account that can be found with a search engine achieves visibility for their topic on Google – at least theoretically. If you are not among the first few hits in the Google search results list, you will most likely never be found. The first criterion for smart visibility is relevance – authority and storytelling add to it. Smart visibility happens when all three overlap. Source: original illustration As has already been hinted at, the plethora of information and the democratic chance of making one’s information visible leads to another problem: access rates for web pages, for instance, that appear on the second page of Google’s search results list are statistically already below 1 percent of total clicks of the overall search results. And this statistics obviously does not improve for Google’s possibly hundreds of other search result pages – and we are only talking about one average search entry. Once again, the Internet with its (theoretically possible) visibility has its downside: all those not right at the top of the list are invisible. Establishing relevance is the second step taken by Google and other search engines when dealing with information, i.e. ranking content for visibility. Highly developed algorithms, which increasingly strive for artificial intelligence, filter and sort information to then present it tailored to each individual Google user. First off, this is a truly impressive service. Google takes its users’ personal and demographic characteristics into account, scans and analyzes the websites’ information, and then tries to match said information with search queries. Being a free-of-charge search engine is obviously not a suitable business model for Google. However, this is exactly where Google can create relevance for its customers, establishing another, relevant business model. If a user experiences Google as a preferred channel for quick and unerring information gathering on certain topics, then they will associate Google with relevance – for their problem of the first order, namely the search query just made. And also for their problem of the second order, namely finding and filtering the insane amount of information found online. Google offers its customers a direct shortcut to information, thus satisfying customer needs, and strives to suggest the most relevant hit out of 447,000 video results for each user. Just how impressively precise Google’s approach is can be seen each time we pull astonished faces when Google has already anticipated the topics we are talking about: “One minute we’re talking about our holiday, and the next Google gives me hotel suggestions …” Just as impressive and illuminating in terms of this service’s precision is the fact that Facebook, which is also highly developed in its use of similar algorithms, can probably predict its users’ behavior better than their closest (real, not virtual) friends. For instance, after only ten likes, Facebook can predict a user’s behavior better than a work colleague would. After about 150 likes – and that can be an afternoon of using Facebook for some users – it is better at the predictions than someone’s siblings. And after 300 interactions with the platform, Facebook can make a better personality analysis than the user’s own life partner.1 While researchers at Cambridge University took the circuitous route in researching this and were only able to tap into certain Facebook data with a meta-software, Facebook’s algorithms can draw on user data much better and with less obstructions. This goes to show the amount of power that modern networks like Google and Facebook have – just from the data they collect and the algorithms they continually develop with it. So what about the business model? Google and Facebook can be extremely precise in their filtering of information for users – and then sell this now predictable user behavior and interests to advertisers. This is how Google achieves relevance: users alone cannot provide orientation in the noise of all that accessible information. So they experience Google itself as a relevant provider for their need for orientation in the jungle of the plethora of information. The good news for companies: they could also do this! And without having to trade in information for it. Not visibility but relevance is the key
Largely due to the Internet and now more than ever, consumers are faced with having to filter products, services and information. And ultimately, their only valid option for achieving this is picking and choosing information channels. Consumers know that by choosing one information channel, they are actively excluding several others. This is quite human; all users have their own value patterns, biases, sources, friends as well as even popular and tenaciously adhered to misconceptions. However, the search of relevance in conjunction with visibility means that it is now every company’s goal to obtain this form of privileged visibility. Ideally, customers should be able to assume that, in regards to a certain topic, they are always in good hands with a certain company – a phenomenon called branding. ...
