The Long Tail theory, as explained by its creator, Wired magazine editor Chris Anderson, holds that society is “increasingly shifting away from a focus on a relatively small number of ‘hits’ (mainstream products and markets) at the head of the demand curve and toward a huge number of niches in the tail.”
Anita Elberse, a marketing professor at Harvard’s business school, argues that the hits are still holding true online. See the full article here. The most popular YouTube items tend to concentrate on a few. The hits and blockbusters are still how we operate as a society.
This may be true but one of the things Anderson argues in the Long Tail, which business are definitely seeing, is that the hits are becoming smaller because the audiences are more fragmented. So although the hits are still working, the question for me is “for how long?”
The other part of the Long Tail is that businesses need to stop thinking about marketing only in the mindset of the hits. For example, the tv ad, the Grand Central print ad placement, the NYTimes ad. Less and less effective.
I’m glad these discussions are still going on. To me it shows that there’s something great opportunity to fix the way marketing works today.
Source: Thanks to Dan Wagstaff