The 80/20 Rule According To Perry Marshall
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It’s also called the Pareto Principle and it’s not new. But the 80/20 Rule according to Perry Marshall is rather like the original Pareto Principle on steroids because it’s about looking at EVERYTHING in your business through your 80/20 Rule glasses and seeing things the way they really are.
In a special PDF provided to his list, Marshall provides some examples of the 80/20 Rule in action:
“80% of the sales come from 20% of the customers
80% of the profits come from 20% of the products
80% of the problems come from 20% of the customers
80% of the crimes are committed by 20% of the criminals
80% of your productivity occurs during 20% of your time
20% of your customers at any level have the potential to spend five times as much money as they are right now
…And so on. We all know this. But the real gains come from
a) cascading multiple 80/20 relationships together, and
b) applying the successive gains to multi-step marketing. It will literally make marketing generate 4X to 16X to 64X as much results.”
Marshall explains that he completely transformed his own information marketing business by applying the 80/20 Rule in multiple layers. In other words, he looked at his customers and his potential customers and began to segment them in his mind, and then in his email list. That way, he could relate to different segments in different ways, and more or less frequently depending on their level of interest.
This is a GREAT idea any info marketer can put to use immediately – looking at our list of contacts and segmenting them on the basis of the 80/20 Rule.