PARETO PRINCIPLE : WHY 80% OF YOUR RESULTS COMES FROM 20% OF YOUR ACTIVITIES
One of the concepts that’s been running on repeat in my head the last few weeks is that of 80/20 also known as Pareto principal.
The overall meaning behind it is that most of the results in a given situation can be attributed to a small amount of causes.
Applying this principle to various areas of your life can really help maximise the results you get.
This principal can be applied to just about all areas of life, your fitness for example there would be a smaller percentage of the exercises that you do that pack the biggest punch so to speak.
In marketing you could look at the different offers you’ve run in the past and most likely will see a small handful of them have yielded the best results
Even with customers themselves a small percentage usually brings in a larger part of your businesses revenue.
Understanding who they are and what makes them different will allow you to cater future marketing to bring in more people like them.
Try this look at who your best customers have been previously, where they came from and what attracted them to your business in the first place (ask them if you can)
Then create a marketing campaign to attract more people like them.