Attention is a precious resource.
And as with any resource, scarcity creates value.
In the digital age where noise is everywhere, those who can capture the most attention are said to win.
This is especially so in financial services.
My industry spends huge amounts of time and effort working out how to gain someone’s attention - too often just adding to the noise and confusion.
A recent example is a large Queensland super fund jumping on the telly trying to convince everyone they don't have transaction fees. Well, all super funds have transaction costs, it's just that some are transparent about that cost, while others build it in to their overall fee. Either way, it gets paid by members.
So its just another exercise in gaining attention, which isn't particularly helpful to anyone.
It is like a lot of information that comes across my desk. While some is timely, relevant and helpful, much of it is at best, just people trying to sell their stuff, or at worst, downright misleading.
What if instead of trying to get attention, we tried harder to give it.
Imagine the benefits that could be produced if the majority of time was spent trying to help instead of trying to be seen.
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