Attention Cost Trading

A framework for maximizing marketing ROI by focusing on attention as the core currency, based on insights from Mike Cessario (Liquid Death CEO) and his experience at VaynerMedia.

Core Marketing Philosophy

• Marketing is fundamentally about "day trading attention"
• Every marketing activity should be evaluated based on cost per eyeball/attention
• Focus on finding the most cost-efficient ways to capture attention

Attention Cost Analysis Framework

• Traditional channels (like billboards)

  • High fixed costs
  • Pay premium price per eyeball
  • Often overpriced for attention received

• Alternative attention channels

  • Create unique experiences (ex: yoga studio in LA)
  • Can generate more eyeballs at lower cost
  • Look for creative ways to capture attention outside traditional advertising

Implementation Strategy

• Always evaluate multiple ways to get attention
• Calculate true cost per attention/eyeball for each channel
• Compare effectiveness across different marketing approaches
• Prioritize channels with lowest cost per attention
• Think creatively about non-traditional marketing opportunities

Key Principles

• Don't automatically default to traditional marketing channels
• Look for innovative ways to capture attention
• Focus on efficiency of spend vs raw reach
• Consider creating owned experiences vs buying media
• Measure everything in terms of attention received per dollar spent

Execution Tips

• Start with calculating baseline costs for traditional channels
• Brainstorm creative alternatives that could capture similar attention
• Compare costs and potential reach
• Test different approaches
• Scale what works based on attention ROI

The framework emphasizes thinking creatively about marketing spend and always optimizing for maximum attention per dollar invested rather than following conventional marketing wisdom.