|
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
RexNet.tv
As RexNet.tv says in one of their
V-mails (emails with video links) "Video is the way to
go." and they should know, Rex has just added a new twist to
real estate marketing. They've gone beyond the distorted look of
virtual tours, added an interactive aspect that pulls leads for agents,
and created a video tour player that is great for home sellers, home
buyers, and agents.
The Leads Advantage has been
working closely with Rex to gather leads, produce V-mails, and assist
with the content management of the innovative new site. Rex
is the future of the net. It takes the love of watching TV and
YouTube and gives the home buyer control to view great homes. Then
it provides ways for them to follow up, like downloading it to their
IPod, calling or emailing the agent, or saving the video to their Rex
account. They can also "Rate" the video and the tour, or
send it to a friend. It's interactive and it is going to change
not only the way we shop for homes, but lots of other things.
Networking Corner
How "Linked In" are
you?
My Space and Meet Up are just 2
ways to connect and network on a virtual basis. It is hard to tell
if this was a business theory turned social craze or something that was
primarily for social purposes that businesses are now utilizing for
marketing. Whichever it is, you need to get on the wagon
now.
One small way The Leads Advantage
is using this linking program to highlight some of our customers and
marketing leaders on our website www.TheLeadsAdvantage.com/link_in.htm
We are looking for other great
businesses to link with, so send us your info. We will ask that
you provide reciprocal links on your sites. Did you know that the
more links you have to great sites, the higher your search engine
ranking? |
