So, as it seems most ad agencies feel the answer to the dilemma of floundering response rates is entertainment… why haven’t we seen response rates increase as advertising has become more and more entertaining? Maybe it is because entertainment doesn’t imply a noticable investment.

I used to have a whole life insurance policy. It’s like buying a policy that you can later cash in for its determined value. Then a lot of people started advising me that term insurance was a wiser investment. Term is more like renting insurance. In the end, you have nothing to cash in. But it’s much cheaper. “Buy term and invest the rest.” Many say. So, after years of hearing this advice… I still have a whole life policy. Why? Because I’ve invested into it. It’s so painful for me to think about, I haven’t even calculated how much I would save by switching to term insurance. I’m too concerned with how much I’ll lose by switching FROM whole life.

Entertaining is like term insurance. You’re renting your advertising to people in exchange for their attention. At any point, they can switch their attention elsewhere without it costing them a thing. But what if you credited people for paying attention? What if they realized there was a return on their investment of time listening, watching, and responding? Then it becomes more like a whole life policy. If you’re a salesperson, what would happen if you gave something frequently when you communicated with a potential customer? Give THEM a lead. Give THEM a connection. Some of your expertise. Tickets to a ball game. Treats for Christmas (hint, hint). All of the sudden, they want to talk with you. Some will eventually buy. Some won’t. But that’s OK. You’re not paying them to buy from you. You’re paying for their investment of attention. Why do you think companies selling time shares give so much stuff (tickets to amusement parks, vouchers for dinners, free gifts)? Because it works.

… for two reasons:

1. Loss. When you acknowledge someone’s investment, there’s a fear of loss by turning their attention elsewhere. They miss out on the sweepstakes offer. They don’t learn another nugget of wisdom. They lose the opportunity to network with one of your connections.

2. Obligation. Most of us have a conscience. We feel obligated when we are given anything. Since many of us do not monetize our attention, we feel like we should give above that. So, we buy.

Entertainment doesn’t tap either of those reasons for maintaining attention. It maintains attention because it is entertaining. It’s interesting. It’s funny. It’s moving. But as soon as something more interesting, funny, or moving comes along… we switch our attention. No sense of loss. No sense of obligation.

Investment builds loyalty. So as you establish an investment relationship with your potential and current customers, your competition may be entertaining them and advising them to switch. So, after years of hearing this advice… will they still be yours? Your obligation is not to lose them.