The second reading for this week was The Long Tail by Chris Anderson. I actually found this reading really interested and I think this is partly because it was written in a much more conversational tone, which I find easier to understand and relate to than formal academic writing.
Anyway, Anderson’s article discussed niche markets and how the Internet is driving consumers down ‘the long trail’. He spoke about how we as people are inherently confused as to what we want; yet at the same time we know we want more. In terms of our media consumption, the Internet provides us with an abundance of choice. Whereas large chain stores provide limited stock that they need to sell in large numbers, the Internet caters to niche audiences. It maintains the philosophy that something doesn’t have to be a ‘hit’ to make money or be successful. Companies such as Rhapsody can find an audience for even the most obscure song or book.
He used other popular examples of sites that understand the importance of niche markets such as Amazon and eBay.
Recently I read Sophia Amoruso’s book #GirlBoss. Sophia is the founder and CEO of the multi million dollar online clothing store NastyGal. First off she is super inspiring not only because she created the business without borrowing a cent and she never went to uni. What made her business so successful was her thorough understanding of her niche audience. She started off her business as a small eBay store selling vintage clothing. She understood that people at that time were looking for quality vintage clothing that they could style into their everyday wardrobes. She put all her effort into selecting, styling and presenting her items in such a way that people began to respond. This small eBay store led her to become a multi millionaire business owner before she was 30 aka IT’S A DEFINITE READ and she’s really funny as well.
Anderson’s second point was that if consumers are to respond to media online, then the provider needs to half the price and then lower it even more. He mentioned how most people think that 99 cents is too much to pay for a song on iTunes. Try $1.99 punk. No thank you, I’ll take YouTube to mp3 any day.
Lastly he spoke about the revolution that is online recommendations. Through links saying something along the lines of ‘you may like…’ people who are fans of mainstream media may find something more obscure that they like and may have otherwise never discovered. Recommendations drive demand down the long trail. I know that this definitely influences me. I always plan to go on to Amazon and buy one particular book and then end up purchasing 3 others that ‘people like me’ also bought. I’m so easily persuaded into a purchase, its ridiculous.
– Caitlin
photo sourced from: girlboss.nastygal.com
