Long Tail Business Model
The Long Tail Business Model is like grabbing a monkey by its long tail. The body is well defended by claws and teeth but the tail is relatively undefended. It's hard to catch the tail but, once you do, you not only catch the tail but you often catch the rest of the monkey as well.
Here are three tips to "catch monkeys", that is, master the long tail business model:
- Identify the tail It's easy to find the body ... where most of your competitors are. The tail is less easy to spot. Search for disgruntled customers. Disgruntled customers want to use the main product but refuse to because the main product does not address their needs. Who are they? What are their needs? Once you know who your customers are, you can design a product that can be customized to a large number of them.
- Build the product The product must be able to be customized to address customers with specific needs. The customers must be able to visit a website or buy a physical product and get a customized experience. The product must be flexible.
- Market the product Digital marketing companies, such as Captora, can present your product in different ways to different audiences. By targeting the presentation to the customer using likely desirable customizations, you can capture a large number of individual buyers with a tailored message.
Having a Long Tail Business Model is difficult but worth it. So grab the monkey by the tail!
Watch this short video to find out more.
Digital Marketing Acceleration Video