Monday, June 11, 2012

The Intention Economy

Business wasn't the same after the Great Depression, and it won't be the same after the Great Recession. Doc Searls' book The Intention Economy tells us why. And what. We are slowly evolving from the Attention Economy (the world of advertising and marketing) to that of the Intention Economy - a world in which consumers individually and collectively empower agents to get the best deals on their behalf, whilst protecting their anonymity until the deal is done.

I've blogged before about the 'advertising dividend', described by James Ogilvy back in 1995 when the Internet was something happening on the margins of most economies and most people's lives. But the new age of ubiquitous mobile communications - that has boomed right through the Great Recession - is now finally bringing about what Searls calls the end of the 'advertising bubble'. The age of 'vendor relationship management' is upon us.

It's heady stuff - but I don't doubt the next Google or Facebook will be what he calls a 'fourth party' - going beyond traditional first, second and third party business constructs. Here are some useful links to follow the emergence of The Intention Economy:

Doc's blog (and here's a handy article by him on The Intention Economy)

The excellent UK based Ctrl-Shift

Harvard's Project VRM

A key driver in all this will be European data protection legislation - an area Ireland has some expertise in. So if we want to position ourselves for The Intention Economy then that might be a good place to start...


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