Hearts & Minds: Attention first, substance later. The new communications creed

There is a new phrase doing the rounds: ‘Attention is the new money in American politics.’ It’s being used to explain Donald Trump’s second term. Claims of a coterie of businesses calling the shots have been made for decades, indeed the warning by Joe Biden of a controlling ‘oligarchy’ is not new. But is that really what is occurring? Trump is fuelled by attention. Yes, the tech titans occupied the plum seats at the inauguration but it wasn’t their cash Trump was after, it was the attention they brought him. Sure enough, the eyes of the word were fixed upon them, whereas other figures who had donated hard dollars were there but nobody was interested. It explains Trump’s in, out behaviour, his wild inconsistencies, the unscripted cameos (remember how he rummaged in a drawer in his desk, prompted by a reporter, to find if Biden had left a greeting letter and sure enough the departed President had, enabling Trump to read it out for the watching cameras), the ability to surprise. Everyone is on tenterhooks as to what Trump will do next. He has our undivided attention and that gives him enormous power. It is behind too, Elon Musk’s decision to buy Twitter: business-wise it was a bad deal, he probably paid too much, but it bought him worldwide attention. That is why, as well, Trump likes Musk at his side: the Tesla founder brings him attention.

Corporates must adapt. Attention first, substance later. Richard Branson is a company chief who knows that. He’s a brilliant communicator and influencer, but he is no orator (nor is Trump). But Branson always occupies centre stage. With his beard and deliberately scraggy hair and casual clothes, the Virgin boss stands out. He’s instantly recognisable. Sometimes, what he does can seem plain daft – some of the picture shoots are toe-curling (same as Trump) – but he is in the frame (like Trump). On a trip to Gatwick, Branson chooses to travel, not by limousine but by Gatwick Express. He walks through the astonished crowds at Victoria, posing for selfies, signing autographs, often in sight of a Virgin billboard. Aboard the train, he pays for everyone in the carriage to have drinks from the trolley. More snaps. Back at Victoria, he joins the taxi queue and people see him and take his photo. It goes viral. Branson gets it; Trump gets it. In our social media age, attention is the new currency.

Chris Blackhurst is one of the UK’s foremost business journalists. He was previously Editor of The Independent and City Editor of the Evening Standard.