The Intersection of Twitter's 'Super Follow' and the Attention & Trust Economy

The Intersection of Twitter's 'Super Follow' and the Attention & Trust Economy

Introduction:
Twitter recently announced its highly anticipated paid subscription service called "Super Follow," which aims to provide users with exclusive content, deals, and community access to creators for a monthly fee of $4.99. Alongside this announcement, Twitter also shared its goals for 2023, including doubling its annual revenue and increasing its daily active users. This development aligns with the evolving landscape of the attention and trust economy, where gaining attention and establishing trust have become crucial for success.

The Attention & Trust Economy:
In today's digital age, people have started to feel a sense of fear and doubt when their attention is being diverted. Consequently, to capture attention, one must also sell trust. This has given rise to the attention and trust economy, where attention and trust are intertwined. The Z generation, currently comprising 27% of the population in the United States and projected to become the largest generation by 2026, plays a significant role in this economy. They are constantly consuming content and brands through their smartphones, with the power to switch brands instantly. Trust is easily lost if a brand breaks its promises or takes actions contradictory to its vision.

Shifting Status Indicators:
Traditionally, status was associated with wealth, and people expressed their status through expensive possessions like Gucci bags. However, the concept of status has changed. It is no longer about money but about "access." The ability to access exclusive restaurants, limited-edition products, or unique apps like Clubhouse, as well as possessing knowledge about lesser-known information, such as environmental issues, has become the new status symbol. Brands must adapt quickly to changing trends. For example, the Z generation must keep up with the latest TikTok dances, music, and stars to stay relevant.

Creating Generation-Transcending Brands:
Top companies initially dominate niche markets before going mainstream and eventually selling a lifestyle. Instead of solely focusing on rapid growth and revenue, brands must provide users with immense value, a sense of community, and an insider experience. By meeting the Z generation's desire for access, brands can control the value they provide to those who have access and access rights.

Audience-Centric Approach:
The next-generation of brands should begin by building an audience. Glossier and Barstool Sports serve as prime examples of companies that prioritize cultivating a fanbase through content and then leveraging that attention and trust for monetization. The Z generation, more than any other, wants to express themselves and showcase their creativity openly. As the predicted sales of Airpods reach 100 million units in 2021, the natural progression would be an expansion of audio-based social media and audio-focused media. Furthermore, as the Z generation grew up communicating through platforms like Discord and primarily via voice, they will likely seek similar communication preferences in the workplace.

Investment in the Metaverse:
Tencent, a major player in the digital world, is making substantial investments in the infrastructure and experiences required for the creation of the metaverse. With a 40% stake in Epic Games, which is at the forefront of metaverse infrastructure, Tencent also holds significant shares in companies such as Snap, potentially including A/R, Mirrorworld, and digital mapping.

Actionable Advice:

1. Embrace the attention and trust economy: Understand that capturing attention and building trust are essential for success in today's digital landscape. Focus on delivering value and creating a sense of community and exclusivity for your audience.
2. Adapt to changing trends: Stay updated with emerging platforms and trends, especially those that resonate with the Z generation. Continuously evolve and provide content that aligns with their interests and preferences.
3. Prioritize audience building: Cultivate a loyal fanbase by creating engaging and authentic content. Leverage this audience to drive monetization efforts and establish long-lasting connections with your target market.

Conclusion:
Twitter's introduction of the "Super Follow" service and its goals for the future align with the principles of the attention and trust economy. As the Z generation becomes the dominant consumer demographic, brands must adapt to their preferences and expectations. By understanding their desire for access and their need to be part of exclusive communities, brands can thrive in this evolving landscape. To succeed, brands must prioritize building an audience, providing immense value, and embracing the metaverse's potential. By following these strategies, businesses can establish themselves as generation-transcending brands and effectively navigate the attention and trust economy.