The 80/20 rule of sales and marketing has been around forever.
80% of your business comes from 20% of your target market.
So what exactly does that mean?
Especially, when you’ve got so many marketing choices out there, you need to know — Who’s your perfect customer? Who’s your most frequent customer?
Here are 5 tips on how to apply the 80/20 rule to your business:
- Clearly define your target market personas – that 20%. Obviously, you can have more than one! Do some research. What are their buying habits? Likes and dislikes? What devices do they prefer? Which social networks do they frequent the most? What are they going to enter into the search box to find you?
- Brand your business so that you speak directly to that 20%. Moreover, this does not mean using your favorite color. There’s a whole psychology of color that you need to understand to be effective.
- What’s your strategy to build the brand and get exposure? Naturally, that’s where your website, blogging, and social media come in.
- Educate your target audience on why your product or service will make their lives better or solve their problems. That’s what content marketing is for.
- Lastly, set up a buying process that makes sense to them. To do this, you have to step into their shoes and see EVERYTHING from their perspective. Knowing and understanding your target’s buying journey and user experience is critical.
Nevertheless, this might sound complicated to you. Do you have to hire a business or marketing coach? No, not if you are willing to learn.
That’s the beauty of my 1:1 Customized coaching and training! Learn what you need to learn at your own speed.
Unmistakably, even if you do hire someone, you still need to have a working knowledge of how all this goes together so you can supervise the person or agency. Ignorance is dangerous. I’ve spoken to people who have been locked out of their accounts for trusting an intern and being clueless. Therefore, there’s no excuse. You don’t have to know EVERYTHING! Just what you need to market your business effectively.