Day Trading Attention
Gary Vee dropped this wisdom on one of his latest podcasts. He said that engagement on social media is ‘day trading attention’.
This stopped me in my metaphorical tracks (I was driving, to actually stop in my tracks would have been very dangerous).
This label so accurately and artfully captures the act of engagement, the mental model of the how and why, I am compelled to put pen to paper, or keyboard to electrons.
What does he mean? Here’s my take.
- Historical trends are important but not a predictor of future success. Every day is a ‘new day’ and the events of the day impact the trajectory of your stock (aka business).
- There is a pattern and flow you can apply to your social media. But you have to be in the moment to execute that trade (engage people) effectively.
- You have to execute daily. Social media engagement is a daily — multiple times daily — activity if you want to see an ROI. You have to actively engage the system for it to return a profit for you.
I’m a big proponent of mental models. These are lenses through which you view the world. Viewing social media engagement as ‘day trading attention’ changes the way one looks at the activity. It applies an overlay, a way of thinking, a series of actions one can take. Specifically, day trading attention brings forefront to my mind the prime question of a business owner: what is my ROI on this activity? How do I increase the ROI?
