The Attention Economy: How Humor and AI are Reshaping Business Communication

How Small Businesses Can Win Big in the Age of AI and Short Attention Spans

Hey there,

In today's edition, we're diving deep into how the attention economy, coupled with advances in AI, is transforming the way businesses communicate. We'll explore:

1. Why humor is your secret weapon in the attention economy

2. How AI is leveling the playing field for small businesses

3. The metrics that matter in modern content creation

4. Practical ways to leverage these trends in your business

Let's dive in!

🧠 The Attention Economy: More Relevant Than Ever

Back in the mid-1990s, economist Michael Goldhaber coined the term "attention economy." His core idea? As information becomes abundant, human attention becomes the scarce and valuable commodity.

Fast forward to today, and Goldhaber's concept is more relevant than ever. We're all competing for eyeballs in a world of infinite scrolling and notification overload.

Key takeaway: In 2024, capturing and retaining attention is the name of the game.

😂 Humor: Your Secret Weapon

Here's a mind-blowing stat: Content that elicits positive emotions (like humor) is 2.9x more likely to be shared than content that doesn't.

Why it matters: In a world of "quiet desperation" (a phrase coined by Henry David Thoreau in 1854 but still painfully relevant), humor stands out. It breaks monotony, creates emotional connections, and makes your message stick.

I remember my summer days as a teenager spent in a boring office, the bar was and still is very low to grab someone’s attention. Sure we didn’t have smartphones back then but you can imagine in an office you at least have to look professional, scrolling LinkedIn on your desktop is fine, but anything else or being on your phone is probably not acceptable.

How to leverage this:

1. Inject personality into your brand voice

2. Use memes and GIFs (when appropriate) in your communications

3. Tell funny stories that relate to your product or service

📹 AI for Video: The Visual Equalizer

Generative AI has revolutionized content creation, enabling tremendous production value in just minutes. This week, Runway released their Gen-3 model to the public, and it's truly impressive. While there's still room for improvement, the upgrade from Gen-2 is remarkable. With an extremely small budget and some practice, you can now create content that rivals big-budget productions. It's a game-changer that levels the playing field for small businesses.

By the numbers:

• 73% of businesses are already using or exploring AI for content creation

• AI-generated content can reduce production time by up to 70%

Here's a quick example of a test I'm currently doing to announce a new (top secret) feature we're still working on at Soon:

Can you guess what it's about? 😅 Mind you, this is just the Gen-2 version of Runway. Imagine what's possible with Gen-3!

🧠 AI for Ideas: Unleashing Creativity with Claude

Beyond video, AI like Claude 3.5 Sonnet opens up new possibilities for business growth. You can now easily create lead magnets or micro-SaaS tools - ideas that previously seemed out of reach due to time or budget constraints. The drastically reduced investment allows you to let your imagination run wild and experiment freely.

How to take advantage:

1. Build a custom API wrapper
   Use Claude to generate a Python library that simplifies interactions with a complex third-party API, making it easier for your team to integrate external services.

2. Create a data visualization dashboard
   Have Claude help you code a web-based dashboard using D3.js or Chart.js to visualize your business metrics, complete with interactive features.

3. Develop a Chrome extension
   Quickly prototype a browser extension that enhances productivity for your target audience, with Claude assisting in both the JavaScript and manifest file creation.

4. Design a machine learning model
   Leverage Claude to help write a TensorFlow or PyTorch script for a basic prediction model using your business data, potentially uncovering valuable insights.

5. Prototype a new product feature
   Quickly build a functional prototype of a new feature for your product. For example, if you're working on a project management tool, use Claude to help code a basic version of a Gantt chart feature with drag-and-drop functionality. This allows you to demonstrate the concept to your team or stakeholders with actual working code, rather than just mockups.

💡Fun fact: Point 5 is exactly how our auto-scheduler came to life. What started as a quick prototype using AI assistance evolved into a key feature of our product.

These experiments, once considered too risky, are now viable paths to grow your business. The key is to leverage AI not just for content creation, but for ideation and strategy. With tools like Claude, you can iterate on your offerings faster than ever before.

📊 New Metrics for Success

Forget vanity metrics. In the attention economy, what really matters is engagement and ROI.

Two formulas to live by:

1. Time spent creating < Total time spent enjoying by viewers = Success

2. Salary for time spent creating < Sales generated = Profit

Pro tip: Focus on creating content that resonates deeply with a specific audience rather than trying to appeal to everyone.

To make this work as a business we limit the time and money we spend on marketing. We go for done is better than perfect, and many small experiments instead of a few big bets.

🚀 Putting It All Together

Here's your action plan:

1. Audit your current content. Is it breaking through the noise? Is it bringing a smile to your audience's face?

2. Experiment with AI tools. Start small - maybe use AI to generate ideas for social media posts.

3. Measure what matters. Track engagement time and conversion rates, not just views or likes.

4. Embrace your unique voice. In a world of AI-generated content, authenticity will be your differentiator.

5. Have fun! If you're enjoying the content creation process, it's more likely your audience will enjoy the result.

🤔 Food for Thought

"If one advances confidently in the direction of his dreams, and endeavors to live the life which he has imagined, he will meet with a success unexpected in common hours." - Henry David Thoreau

How can you apply this philosophy to your business communication strategy?

That's all for this week! If you found this valuable, please share it with a friend or colleague.

What did you think of this week's edition? Hit reply and let me know!

Stay curious,

Olaf.

P.S. Stay tuned for the final result of my Runway Gen-3 adventure, I’ll share it on LinkedIn and the Soon help centre. You won't want to miss it!