As the digital world continues to grow and progress it allows for new trends and schools of thought to develop.
One of the more interesting developments is the idea of ‘Long tail’ approach. This refers to identifying niches in the market and capitalising on the value of these within a micro-segmented market.
Whilst it is typical in today’s society for companies to want to mass produce and cater for more prominent demand, Savage (2010) outlines that there is still a lot to be gained from entering into niche markets. This is especially true as society is rapidly embracing a variety of social platforms and marketplaces such as; Ebay, Etsy, Alibaba and Depop which allow consumers to search for tailor made solutions that previously weren’t as readily available.
Although the long tail approach has shown to be successful in the digital world it still seems daunting to many businesses who may have a limited online presence and the lack of strong digital strategies. Therefore, causing them to view this approach as too risky.
However, businesses like Amazon.Com and Netflix have embraced these high risks which have resulted in high rewards, with consumers finally feeling like their unique needs are being acknowledged.
This raises an important implication for digital marketing which is also highlighted by Elberse (2008) ,which is that as digital e-commerce continues to excel and allows products to become more readily available, consumers will be willing to pay for niche products that satisfy their needs and wants. Ultimately allowing the long-tail digital marketing approach to increase its relevance as a viable business approach.
This infographic below outlines the impact of this approach with currently booming businesses.
How do you feel about the long-tail digital marketing approach? Do you have a unique hobby or interest that you would like to be able to access more products for, but are currently unable to due to it not being a mainstream interest?
Join the conversation and comment your thoughts down below.
External Readings and References:
Anderson, C. (2004). The Long Tail. Retrieved from https://www.wired.com/2004/10/tail/
Savage, N. (2010). Straightening out heavy tails. Communications Of The ACM, 53(6), 13. doi: 10.1145/1743546.1743553