I first encountered the concept of ‘The Long Tail’ in a Wired article by Chris Anderson, the author of the book ‘The Long Tail’. I finally managed to finish the book which expands on what was covered in the essay. Some quick notes:
Long Tail Economics is possible because of:
1. The democratization of production - more tools available at a cost where more people can create.
2. The democratization of distribution - more channels available to people to showcase and sell their products, services and content.
3. The availability and improvement of filters which connect supply and demand.
To be a Long Tail aggregator:
1. More inventory way in … or way out.
2. Let customers do the work.
3. One distribution method doesn’t fit all.
4. One product doesn’t fit all.
5. One price doesn’t fit all.
6. Share information.
7. Think “and” not “or”.
8. Trust the market to do your job - don’t predict, measure and respond.
9. Understand the power of free.
Post a Comment