rackliner.blogg.se - The 80 20 principle

This takes on a lot of forms, the most popular (and worthy) being blogging and website content (promoted on Google using SEO) and social media on platforms such as Facebook, Twitter and Instagram. Top 20% ContentĮvery company worth its salt is using content marketing to build brand awareness these days. Any of these niches may bring in a significant amount of sales temporarily or for an extended period of time. The concept of “niche” doesn’t apply just to customers - it pertains equally to industries, customer segments, or product mix. Use this information to identify commonalities among prospects actively looking to make a purchase, and build on their experiences to drive them along your sales funnel. Formulate effective strategies to engage and convert more on those channels.ĭuring the selling cycle, you’ll likely come across customers who exhibit particular behaviors that signal buyer intent.Narrow down the ones that your team is good at targeting.Identify the channels where a significant number of your potential customers are present.So, while spray-and-pray is the default approach, a bit more common-sensical thing to do would be to The 80/20 rule says that only a fifth of all your channels will bring you great results. Given the gazillion platforms, websites, media formats and outlets out there, how do you decide where to focus your finite resources? The explosion of content marketing in a variety of forms lately means marketers are spoilt for choices. You can then leverage this information to boost your sales and marketing strategies in these locations. You’ll notice that certain locales, cities or regions are far more lucrative than the rest, obviously due to the presence of a high-income customer segment. Look for trends in your POS platforms, paying special attention to where these customers are. If you’re in retail or in service such as food delivery, wedding planning or cab booking, chances are you find more valuable customers in wealthier neighborhoods.

Once you’ve identified your most profitable customers, the easiest common ground to look for is where they reside. Keep them delighted with your service, keep engaging with them on a more personal level, and continue exploring further business opportunities with them. Make sure that you’re always providing a superior customer experience to your best clients. Don’t lose touch with your core clients while acquiring new customers or dealing with problem clients. Once you’ve identified them, tag them as a top priority for your sales and marketing efforts and use their customer data to help you find and attract new audiences.Ĭertain clients are always going to be your high-volume buyers, but it’s important not to take them for granted. Keep close tabs on which customers made a recent purchase, are frequent buyers, or which ones were generous in their purchases. You probably have hundreds or thousands of contacts on your client and prospect lists from your website, and email and social media marketing efforts. Once you formulate and answer these pointed questions for self-discovery, here are a few strategies to help you focus your attention and resources on your top 20% tactics, customers and channels.

Which are our best-selling products or services?.

Which marketing channels bring us the most conversions and sales?.

Who are our most valuable and loyal customers?.

In the sales and marketing ecosystem, you can use the 80/20 rule as a guide to come up with highly effective marketing campaigns as well as sales best practices by asking questions such as: This way, you can zero in on the USP that is bringing you 80% of your revenue or the root cause of 80% of your problems.Īpplying the 80/20 Principle in Marketing & Sales In order to create maximum value in business, you have to apply the 80/20 rule in the context of cause-effect relationships in various areas. Salespeople, leaders, consultants and others have demonstrated time and again that the 80/20 rule holds its ground when it comes to team or individual performance, best practices and management strategies, routine tasks, operational processes, or high-level business insights.Īt its core, the 80/20 rule is all about identifying your best business assets and using them effectively to maximize value creation. It might not be totally accurate or precise, but statistics across industries support the rule’s validity. The 80/20 principle is based on empirical and anecdotal evidence more than a scientific fact. Is The 80/20 Rule Really True? Or Useful in Business?

Using the 80-20 rule, I put together these 10 tips for optimizing your content marketing. Alternatively, you could say that 20% of what you do is responsible for 80% of your profits. What’s the implication for your business? The 80/20 rule suggests that 80% of your company’s revenue comes from 20% of your selling efforts.