What is the 80/20 rule of marketing? (https://livelongdigital.com.au/solopreneur/)

Coaches, consultants and small businesses (https://livelongdigital.com.au/seo-services/small-business-seo/) often search for ways to increase productivity, save time and boost sales.

Implementing the 80/20 marketing (https://livelongdigital.com.au/digital-marketing-services/digital-marketing-packages/) rule can help people achieve these goals. If you’re looking to develop a marketing strategy or improve business operations, you can use the 80/20 marketing rule to determine an effective plan and strategy.

In this podcast, we discuss what the 80/20 rule is in marketing and eight ways you can apply it for an effective campaign or other marketing operations. (https://livelongdigital.com.au/solopreneur/)

Key takeaways:

• The 80/20 rule states that 80% of results come from 20% of accounts.
• Some experts refer to the 80/20 rule as the Pareto principle named after economist Vilfredo Pareto of Italy, who compared wealth to population.
• The 80/20 rule applies in various areas, such as marketing, content creation, management and human resources. (https://livelongdigital.com.au/solopreneur/)

Vilfredo de Pareto was an Italian sociologist and economist who, during his studies, realized that, in general, 80% of a nation’s income was in the hands of only 20% of the population.

Extrapolating this concept, Pareto defined a rule that became known as the Pareto 80 20 rule, which could be summarized as follows:

80% of results are produced by 20% of causes. (https://livelongdigital.com.au/solopreneur/)