Senin, 30 November 2009

12/1 The Finance Buff

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Hiding in the Long Tail
November 30, 2009 at 9:14 am

I wanted to get the new book Free by Chris Anderson, but there's a long wait at my public library. So I got his previous book The Long Tail.

[Links to Amazon.com are affiliate links. Amazon will pay me 4% to 6.5% of the purchase price if you make a purchase within 24 hours.]

Anderson says with the lower cost of inventory and distribution, businesses can successfully sell a large number of niche products in small quantity and still make a good profit, because the small quantities across so many items add up to a huge volume collectively.

Come to think of it, my blog is a member of the long tail. If we see financial media as the market, Wall Street Journal, New York Times Business section, CNNMoney, and various mainstream media are in the head. This blog is way out there in the tail.

Even if we narrow down to personal finance blogs, there are much more popular blogs such as Get Rich Slowly, The Simple Dollar and the like in the head, with my little blog still on the far right in the long tail.

That's perfectly OK with me. The spirit of a long tail supplier is not to be everything to everyone. For this reason, I want to thank all of you who decide to read my blog. Among so many choices, you chose to read my blog. You must have seen value in what I write. Thank you for your encouragement.

Lately I noticed some mainstream media blogs listed my blog in their blogroll together with some much more popular destinations.

NY Times Bucks blog:

Money Magazine's More Money blog:

To be listed in these blogrolls is quite something. I would say every other blog in the lists is at least ten times more popular than mine. Consider The Consumerist. It's published by a subsidiary of Consumers Union, the publisher of Consumer Reports magazine. It has a team of no less than six editors. My small blog is not in the same league. Yet the NY Times and Money magazine blog editors plucked me out of the long tail and placed my blog next to The Consumerist.

Both Bucks and More Money are pretty good. I say this not because they link to me. I have been reading both of them before I noticed their link to me. Journalists are professional writers. They write really well. They also have sources they can lean on. When the constraint of fitting into newspaper word count and publishing schedule is removed, I think they produce a much better product.

To make sure that I continue to serve my constituents well, I do my third annual reader satisfaction survey. There are only eight questions. Please kindly give me two minutes of your time and let me know how I'm doing and what I can do better. Readers gave me good feedback in my two previous surveys. I incorporated their feedback into my blog. This time, I'm giving out one $25 iTunes gift card to the reader who gives me the most helpful suggestions.

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