The purpose of this study is to propose a measure for earned attention and a model and procedure for the maximization of earned attention by a company over a period of time.
Utility functions are used as the base of the earned attention measure. An evolutionary algorithm – a memetic algorithm – is applied to identify strategies that aim to maximize earned attention. Computational analysis is performed resorting to simulated data, and the memetic algorithm is assessed through the comparison with a standard steepest ascent heuristic.
The shape of the utility functions considered in the model has a huge impact on the characteristics of the best strategies, with actions focused on increasing a single variable being preferred in case of constant marginal utility, and more balanced strategies having a better performance in the case of decreasing marginal utility. The memetic algorithm is shown to have a much better performance that the steepest ascent procedure.
A new mathematical model for earned attention is proposed, and an approach that has few applications in business problems – a memetic algorithm – is tailored to the model and applied to identify solutions.
