According to Chris Anderson many companies make more mony from selling niche products than from bestsellers. This is definitely true for books and music. According to Erik Brynjolfsson, Yu (Jeffrey) Hu, and Duncan Simester in their 2006 working paper titled „Goodbye Pareto Principle, Hello Long Tail“[6], information technology in general and Internet markets in particular could substantially increase the collective share of hard to find products, thereby creating a longer tail in the distribution of sales ( Quoted from WIKIPEDIA.org)
Nowadays product selling internet shops, music download sites and other sites offering products or digital content are controlled by two different methods of displaying or recommending products to the customer:
1)Database queries search for distinct products that match the search word and either produce too many or too less results. And most of all only results of one kind.
Using a dynamic approach based on preference values could enhance the result generation by adding closely related or even niche products to the results in a dynamic way. With every query even of the same kind, the customer would be presented with a new set of results thus enabling the seller to offer a lot more of the available product range.
2)The second approch is collecting data of customer bying or usage behavior and presenting these results to the customer when querying the product database ( ie. Amazon: people who bought this also bought …).
Using Moodmixer’s preference based approch mixes the results of mainstrem with results of products only a few or even just one other customers had frequented, and can thus increase the chance of customers buying non-mainstream niche products. Your bestsellers are selling anyway, now sell the back catalog!
If you need to enhance your shop system with Moodmixer-technology feel free and ask us.
