|
Industry News
Internet
Marketing Long Tail Bashes the "80:20" Rule
Wired
editor-in-chief Chris Anderson (also the editor of “The Long Tail: Why
The Future of Business Is Selling Less of More”) was in Singapore last
week for the Media Leaders Series and his Long Tail theory has put paid
to Vilfredo Pareto’s 80:20 rule.
An
except from the Long Tail reveals how pervasive the Long Tail is, and
how it put the 80:20 rule on its head.
Meeting
Ecast CEO Robbie Vann-Adib, Anderson is asked what percent of the top
selling 10,000 digital music tracks are sold or rented at least once a
month.
According
to Pareto’s original principle, 20% of Italy’s population controls
80% of it’s wealth.
In
today’s context, 80% of car accidents might be caused by 20% of car
drivers. 80% of a computer’s resources might be used by 20% of the
applications, 80% if your online income might come from 20% of your
efforts.
So
the Pareto principle should relate to Ecast’s digital music library
right?
Wrong.
Vann-Adib
reveals that 99% of the top 10,000 tracks are sold or rented at least
once a month.
Has
the Internet long tail sounded the death knell for the Pareto principle?
Should
the 80:20 rule be replaced by the 99:1 rule?
It’s
hard to reach any conclusions, but one thing’s for certain: As long as
you have a digital presence, given the global reach of the Internet, you
are bound to reach someone.
That’s
the premise of the “Long Tail”, isn’t it?
Like
Allen Funt used to say on Candid Camera, somewhere out there, sometime,
somehow, don’t be surprised if someone comes up to you and says
“Candid Camera!”. Except in this instance, you will see a
transaction completed, even if you’re in an obscure niche.
Perhaps
the Internet has collapsed the six degrees of separation into one or two
degrees.
The
lesson to take from this, especially for newer Internet Marketers is
that you need to be out there.
As
my friend Sam likes to say, You need to have done something yesterday.
Being
out in the virtual market means you’ll have a chance to building a
list, closing a sale, forming a joint venture.
As
long as you’ve not set up a blog, a website or participated in a
forum, you might be as prominent as the Sue Richards, the invisible
woman.
It’s
hardly a position to be one of the “Fantastic Four” or Fantastic
One, regardless of whichever niche you might be in.
From Webprosnews.com |
|
Innovative Marketing
Leaders
A picture is worth a
thousand words.
These signs are a creative
way of drawing attention to your business. Think of neat ways to
promote your business this year.
96.3 Rock Radio...Free Air Guitars
KKarate Ad on the side of their building
Networking Corner
Meetup.com - Integrating On-line & Off-line
Networking
If you haven't looked around www.meetup.com
yet, now is the time. Meet up is organized both by topic of
interest and by region. It is a great integration of using the
Internet for it's information sharing capabilities, without loosing that
real life contact so important in networking. Business, marketing,
entrepreneur, real estate, work from home, and thousands of other topics
have their own group. Look them up, so you can start meeting up in
2010. Did you see
our 2010 New Year's Resolutions? If not click
here. |
