The Long Tail Theory for Business: Find your niche and future-proof your business
By 50minutes
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About this ebook
This book is a practical and accessible guide to understanding and implementing the long tail theory, providing you with the essential information and saving time.
In 50 minutes you will be able to:
• Understand the uses of the long tail theory in the digital product market and how you can use it to sell products and for search engine optimization
• Identify the products in your portfolio that make up the ‘head’ and ‘tail’ sections of the long tail theory and use these findings to form your strategy
• Learn about how you can increase future profitability using Chris Anderson’s strategy of “selling less of more”
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The Long Tail Theory for Business - 50minutes
Key information
Name: long tail theory.
Uses: this concept refers to all of the products offered by a company that only sell a few units, but where the sum of their sales may exceed the revenue made from the top-selling products. This is the same as saying that the most popular and best-selling items only contribute to a minority of turnover, the mass effect playing strongly in favour of the more marginalised products.
Why is it effective? The inclusion of such a strategy allows a company to benefit from constant sales from its entire product portfolio.
Key words:
Bestseller: a flagship product, often assigned a high advertising budget, which achieves record revenues.
E-commerce: online commerce (via the internet).
Opportunity cost: indication of the loss caused by investing resources into one function more than another.
Profit: financial gain from an action. For example, a sale is an action that can generate profit or loss.
Profitable: something that generates reward or a certain amount of profit.
Statistics: a set of data relating to a group of individuals or units that allows for observing trends.
Turnover: cumulative and recorded value – usually over a period of one year – from the sales of