(By Buzz Knight) The concept of “The Long Tail,” popularized by Chris Anderson, is increasingly relevant in the radio industry as it adapts to digital transformation and more intense competition than ever.
In his 2006 book of the same name, Anderson describes “Long Tail” marketing, or how niche products, despite their low individual sales, can collectively achieve a market share that rivals or surpasses bestsellers when sold in large, diverse marketplaces. The concept emphasizes the profitability of offering a wide range of products, each selling modestly alongside a few high-demand items.
Every day, consumers are blurred by the number of entertainment and information content choices they are offered. So how can radio stations raise the bar when it comes to the quality of their content on a second-by-second basis? Yes, second by second – not minute by minute.
Those in charge of brands must treat their audiences with greater respect when it comes to what they are serving up, how they are doing it, and how it connects with an audience. Having a heart, soul, and deep connection with an audience is vital.
To better adapt to the never-ending growth of the “long tail,” leaders should reflect on some opportunities to better confront this.
One that strikes me is the topic of radio station-branded mobile apps. Have stations stopped investing in their app experience? Can apps be better personalized to offer custom playlists, push notifications, and exclusive content, enhancing user engagement and loyalty?
The streaming experience is another critical battleground to shore up and maximize the user experience. We know radio stations need to be accessible 24/7 across all devices and the industry continues to fumble streaming execution. If the “long tail” consists of streaming competition this is fundamental to the future success of combating it.
To better understand how to compete in this world of many choices, broadcasters have the opportunity to better leverage data analytics to understand consumer preferences and better serve their audiences. It strikes me as fundamental that if station brands want to improve audience retention and satisfaction, they better know what motivates the heart and soul of their audiences.
Since we are living in a new virtual world, how can we better engage audiences more consistently with virtual concerts, webinars, and other online events that face-off versus “the long tail”? Besides sponsorship possibilities, there is a competitive advantage untapped if executed thoughtfully with an eye on quality as well.
Finally, is their opportunity competing with the “long tail” for stations to better partner and collaborate with Apple or Spotify to increase discoverability and reach? Add YouTube as well and I’m sure others.
By acknowledging the continued growth of the “long tail,” broadcasters can be more open-minded to shifting strategy and focusing on greater digital connection.
Buzz Knight can be reached by e-mail at [email protected]. Read Buzz’ Radio Ink archives here.
