Semantic Search and New Economies

The old search worked entirely on links. The whole game was about buying and selling of links. Linking helped one to get into the first page of Google. This had given rise to a burgeoning link economy. This no longer works.

The new semantic search has also given rise to different types of economies in the same way as the old search started link economy. We all know that any economy will include production and consumption of goods and services. Due to the transaction of contents and data between different people online, we can term the entire Web as an Economy.

The economies emerging in the new digital world include relationship economy, connected economy, attention economy and behavior economy. Basically all these economies have resulted in the elimination of the division you and your customers. Everyone has the same importance. Now the focus is completely on the customers’ experience.

Relationship Economy

The new search has made businesses to find out new ways of doing business. Today business needs to change the way the overall selling process is carried out. It now needs a change from selling a product to a buyer to selling an experience to a buyer. Here you are establishing a relationship with your buyer and this is called a relationship economy. You need to nurture this relationship by having regular interaction with your customers, imparting useful information related to your company, brands or services which will help you in gaining their trust. Checking what all things they are looking for by analyzing their social media activities like their comments, likes etc.

Attention Economy

For all this you need relevant and good quality content which will add a spark in your customers’ mind and improve customers’ awareness. Such content gains attention on the Web, giving rise to attention economy, which is a move towards considering information that gains human attention as scarce commodity and applying economic theory to solve information management problems. Such scares commodities will be addressed first by the new search. So now if a business is not credible enough to gain attention of the customers, it has no place in the eyes of your new semantic search.

Behavior Economy

It is a basic customer behavior that whenever one finds a content which has been liked by many people and has chances to go viral, people get interested and will surely follow that content and its related contents. This has also given rise to behavior economy in our digital world.  A high ranking in Google’s search is a definitive metric and gaining it has become the aim of every business.

Connected Economy

All the above economies have given rise to another economy that is the connected economy, which all depends on the amount of Web presence and followers you have established. Without having proper interconnection in the digital world, you have all the chances to miss out the opportunity to be noted by the new SEO, and being offered as a result for search queries. You may also lose the chance of being serendipitously discovered by search. As we said earlier, content is the key to everything. It has become the need of connected economy, and should be given importance. Proper content creation strategies should be used to have effective business.

There is a lot more happening in the world of Semantic search, do follow our blog posts on this!!!

[We are Connecting Dots, a full service eCommerce solutions company. At Connecting Dots, we help companies build great online businesses]