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How Has The Long Tail Affected Your Business?
I just finished reading a book, The Long Tail by Chris Anderson. It discusses how people's purchasing options and purchasing decisions are changing with the advent of more advanced mass media, such as cable television and the Internet.
These technologies have changed what's available to consumers, thus allowing us to have much more to choose from. From the television shows we watch, to the books we read, we are no longer "stuck" with 5 channels or the top 10,000 books that executives think we should enjoy. There are hundreds of channels with very specific interests and millions of books available.
As a business owner, how does this affect you? Your ability to niche, even micro-niche yourself and your products is important now more than ever. Where consumers were at one point happy to have a chiropractic adjustment, they now want to work with someone that specializes in the health of runners (their passion) and the specific injuries they may incur.
Why?
Because they can.
According to The Long Tail, today's consumer now has more options, and because of that they are attracted to the product or service that's exactly how they want it. If you love fashion, you may love to watch fashion shows on TV. Are there millions of people watching these shows? Probably not. But the folks that are watching are very passionate about fashion, will be extremely loyal to their shows, and they tend to spend more money. Why do you need billions of people watching if your core is who spends the money?
The long tail itself is the tail end of a bell curve. The bell curve being the main television channels and the best-selling books. The long tail is all the books that never make it onto the best seller list, but still sell. Maybe 100 copies. Maybe only four copies. The farther out the line (or the tail) goes, the fewer products sell. There is a need for those micro-niched products and technology is making them available.
Today's consumer is looking for and expecting products and services to meet their specific and unique tastes and interests.
How can you use this information to strengthen your business?
(c) 2007, A Marketing Connection
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