The Long Tail

Simply put, the Long Tail is a look at the company of tomorrow.  Maybe.

It's a theory advanced by Chris Anderson, the Editor-in-Chief of Wired Magazine, that makes a strong case for specialized business-models. Niche-companies with focused, highly-targeted services can compete with giant companies...and win.  So what does this look like from a 20,000 foot view?

1.  The internet makes it possible to target a very specific customer. (Example:  Pay-per-click advertising on search engines enables a niche business to target the specific words that describe their services...and not spend a dime on the rest.)

2.  And the search engines now make it easy for customers to find a very specialized company. (Example:  A Google search for "Environmental consulting company in Oakland, CA." This person knows just what they are looking for-- in this case a certain-type of company in a specific location.)

3.  The website behaves like a salesforce. (Example: An online tour introduces the firm's service, FAQ's anticipate objections and respond, quote-request form set expectations about pricing,  live-chat makes an instant conversation easy for the prospect...more.)

4.  If product inventory is online, you don't need a warehouse.  And you don't need shelf-space.  The Long Tail theory doesn't suggest that brick and mortar businesses will disappear, only that niche-businesses will spring up-- and do very, very well.

5.  You can listen to your customer like never before.  (Example:  Blogs.  The enable you to demonstrate your expertise, ask questions, gather feedback and refine your offering.)

Keep Long Tail on your radar.  Read more at The Long Tail.