80/20 rule applied in Digital Marketing
Let me take you through an exciting topic, ‘The famous Pareto Principle.’ Also known as the 80/20 rule, the law of the vital few, and the principle of factor sparsity. The concept developed by economist Vilfredo Pareto noticed that 80% of Italy’s land owned by 20% of the elite population. He extended his observation connection on other countries through surveys to find that a similar distribution exists!
We can apply Pareto’s 80/20 rule in almost every aspect of our lives. Using the 80/20 rule to goal setting brings tremendous career growth and business success. Using the 80/20 rule to setting SMART goals will boost your productivity. Wondering how? Write down your top 10 goals you want to accomplish today, identify your top goal that will bring the most positive impact in your life? Identify your second most important goal of the day and continue to finish these two significant goals. Are you wondering how you can identify the top two essential goals? Worry not. Always ask yourself, is this task in the top 20% of my activities or the bottom 80%? Which of these tasks is the hardest to accomplish to my success? Addressing the most valuable tasks of the day will help you gain tremendous rewards and payoffs. Also, it brings you a sense of satisfaction of accomplishing the high-value tasks.
After reading about this rule, I realized I was subconsciously applying it during my exams all my life! How many of us haven’t referred to previous years’ papers to identify which of the common topics repeatedly asked and be extremely thorough on those top common topics? RIGHT!! So, we all narrowed down vast syllabus topics and achieved the highest scores by addressing the elephant in the room. Of course, we can apply this principle in almost everything, but I’m eager to provide my insights into using this rule in Digital Marketing. Firstly, focus your attention and resources on your top 20% customers. To do this, it’s essential to follow the steps given:
- Regularly post on social media channels to discover and identify your best customers through your website, email, and social media marketing efforts.
- Locate your customers geographically to leverage and boost your sales and marketing strategies in those locations
- Identify commonalities among potential buyers to build your expertise on those commonalities to drive your sales funnel.
Working in a growing startup that is currently concentrating only on SEO and content marketing, I have subconsciously developed a habit of identifying and strategizing what content I need to publish for the company! From Startup Company’s LinkedIn analytics, 50% of the page visitors and who read my blogs written for the startup were mostly business developers, and the next 10% is educational professional. This helped me understand what kind of commercial blogs I need to focus on that would intrigue the page’s top visitors and make them follow the company account — applying 80/20 rule! Just stressing on the principle again!
PS: In general, resist the temptation to clearing up small tasks first. You are here to Do Less — Gain More!
My takeaway from digital marketing is 80% of social shares are from 20% of the social updates!
