Long tail of the business end
The founder of excite has an interesting blog entry at Bnoopy regarding the long tail end on how to make money off of your customers. It seems that while at Excite.com they made their money off of the 3% of searches because those were the most searched while 97% of their searches were one time searches. They couldn’t figure out how to monetize that traffic. Then Overture and Google came along and figured it out. Well Overture did it first, but Google did it better. Anyhow, this is an interesting insight, as it really shows that businesses can succeed so long as you are not trying to compete for the same small piece of the pie.
One thing as an entrepreneur myself is to figure out how to make as many sells, in my current case, the tea industry, and see what area of the tea industry is not being met. I feel that we did this with the ability to create custom tea blends without having to purchase a large amount and without incurring any type of setup fees. This has proven to be pretty successful for those that are willing to try to create their own custom tea blends. But most of our customers just choose to drink what we have on hand. So what can the long tail end be for those in the tea industry?
It could be bagged loose leaf teas, but there are already big players in this arena. Could it be bottled teas? Here too are already many players addressing this business area.
What could it be? The only thing I can think of is the specialty tea business. Of which I can’t get into because these are trade secrets but there has to be something that we can do online that isn’t being addressed. There are some recipes that we have put up in our Tea Villa Tea Community.
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