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For most of the past century, our markets and culture have been dominated by the “hits,” the big sellers, the blockbusters, the “thing” everyone wants and is talking about.
Late last year, Chris Anderson wrote an article in Wired magazine in which he discusses that new growth will come not from the hits, but from the niche. He called these niches the “Long Tail” of a sales chart which shows a standard demand curve with a steep downward slope illustrating how the number of units sold decreases among less popular items. He says that businesses that best leverage the Long Tail can see cumulative sales of less popular items create greater revenue than the total sales of the most popular items.
Learn from Chris (who will publish a book on the subject in 2006) what the Long Tail is and what it is not, what you must have to see the Long Tail effect, and how your business can leverage technology and the Long Tail markets to grow your business.
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