Art is a Long Tail Product and World Class Pricing
by Clint Watson on 11/18/2005
I recently attended a speech by the editor of Wired magazine, Chris Anderson. He is touting his new marketing theory called "The Long Tail." In short, "The Long Tail" comprises all of the products in a given market by producers who are not as well-known, and therefore generally ignored by the "mainstream." For example, Hollywood produces and markets around 200 films per year (the "mainstream"), but there are thousands and thousands of independent films made each year and these are "the long tail" in the movie industry. (Visit Chris' blog at http://www.thelongtail.com for more details.)
As I listened, I realized that for the most part, art is a long-tail industry. Historically, this was bad news, as only the "mainstream" get the attention and therefore the sales. However, the Internet has DRASTICALLY changed the playing field. Marketing in the long tail is now not only viable, but often more profitable.
This has also affecting pricing in the art world. Prices are now transparent and artists and dealers who play games will be quickly discovered and punished by the marketplace. For a complete essay on this subject, visit www.webartsites.com and read "World Class Pricing" by Robert Genn.
Any stories from "out there" about how the Internet has changed YOUR marketing strategy?
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