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3. The long tail theory and the Pareto Principle are very similar. While the long tail theory defends that the sum of all the sales of niche products is equal or greater than the total sum of all the sales of mass products, the Pareto Principle makes a relationship with the 80/20 rule, explaining –for example – that we can focus 80% of our time in the 20% of our work, and the remaining 20% of our time in 80% of our work. This way, we will be more productive and effective. Both theories are about prioritizing tasks and optimizing results.
1. The long tail theory can be applied to the use of hashtags in social media as we can choose from a varied array of hashtags those that adapt best and describe our content in the most detailed way. This way, as the theory explains, the sum of the users we get from those hashtags will be equal or higher than the sum we would have gotten from using general hashtags.
Specialized hashtags are much better to capture the audience we want to capture, as they differentiate our posts and bring in a more select audience, as opposed to the general ones which may be more popular but are also overcrowded and will in turn make your posts less relevant and/or attract a group of people you were not looking for.
So, to have this advantage and get the right kind of visibility, one could, for example, use 2-3 general hashtags and 7-8 niche/specific hashtags.
While a 360º Marketing approach focuses on getting the attention of the user through a mix of all the available channels -from the most traditional ones like television or billboards to the newest ones like Instagram Reels, the 6º Marketing approach focuses mainly on the importance of peer to peer recommendation.
This means that the 6º Marketing approach focuses mainly on causing a good and memorable impression on the user. Good enough so that he or she will share it with other peers.
In this sense, this type of marketing doesn’t need to exhaust all the opportunities or tools available for a marketing campaign (regardless of if these are traditional or non-traditional, inbound or outbound).
This system asks itself which is the best route to connect with the user. A route in which the brand can successfully communicate with its audience in order to create a more meaningful and impactful connection.
Instead of overwhelming us through all the available channels, the 6º Marketing approach chooses one simple yet impactful way to get our attention, in which it is also easy for the user to recommend to his or her peers. This means that the channel is probably digital.
In the near future, if all social networks begin using blockchain technology, these could be some of the changes we see:
1. Control over false information (fake news, misleading headlines, fake profiles): This would mean (1) a huge gain for journalism, as fake news have increasingly become more common with the growth of social media and the digital landscape, and (2) a safer place for social media, as catfishing and deception through fake profiles would be impossible.
2. Ownership over our own data: Users wouldn’t have to agree to give up all of their data in order to use social media, but instead, could share the data they want with the networks or brands they want to. A more democratic approach to data access.
3. Possibility for users to be rewarded for creating quality content: This is related to what Paula Carrillo mentioned. Advertisers could use a reward system through which both users and brands contribute. Brands get visibility and honest feedback and in exchange users earn points or discounts on the brands they like and support.
4. Possibility of purchasing through social media with cryptocurrencies: As many brands already sell through ads in social media, this could mean the merger of cryptocurrencies with social media to make purchases through a safer and faster system.
