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Mediation Marketing and the 80/20 Rule
29 November 2006You have undoubtedly heard of the 80/20 rule?
If not, here’s a quick background. Vilfredo Pareto (1848-1923) an Italian economist originated the theory when he observed that 20% of the Italian people owned 80% of its wealth.
Since the days of Pareto, scientists have scientifically proven in all sorts of amazing and random areas of life that 80% of results are generated by 20% effort (or inputs). (There are a couple of different books that go through all the interesting experiments and results). In addition to being known as “Pareto’s Principle” it is also known as the “Vital Few and Trivial Many Rule.”
For years, marketers have also found the 80/20 rule applies to marketing and business development.
- 20% of clients typically account for 80% of a business’ revenue
- 20% of your marketing efforts will result in 80% of your new business
The flip side of the equation is that 20% of your results can absorb 80% of your costs.
It doesn’t take a mathematician to realize that as marketers we need to pay attention to what inputs lead to what outputs and to be strategic about how we use our resources (time, money, energy and people). See post on Measuring your success.
Have you found your 20% sweet spots — those 20% activities that lead to 80% of your new business?
For me, the number one thing I do to bring in new business is give presentations (speeches or workshops). Many people find this to be extremely effective. The other thing that has led to new business is my internet presence (blogs, website etc.).
How about you? Of the different marketing activities have you found that some lead to new business and others don’t?
Focus on the productive 20% and begin to weed out the unproductive 80% and you will be miles ahead of the game.
Another application of this principle, is that 80% of your success will come from 20% of the effort you put into your inner game. Aligning your thoughts, beliefs and your core inner self (body, mind and spirit) is probably the single most important thing you can do to achieve greatness in any area.
I know that without inner mastery, all the great marketing strategies in the world could prove useless. It’s the secret that most successful people don’t talk about but they all have.
If you aren’t consciously improving your inner game, just think about what next bigger level of success that you are capable of achieving that you are not.
Maybe you have a measure of success now — but you must ask yourself, What more am I capable of being, doing and having?
Think Big about yourself and your role in this world.
You have a lot to offer.
If you want to learn techniques and strategies on how you can win the inner game of success you won’t want to miss our free teleseminar — Winning The Inner Game– creating success from the inside out on
December 14, 2006
1 pm EST (10 am PST)
You must pre-register (send an email to me kristina [at] kristinahaymes.com– the web page isn’t ready yet).
80/20 be mindful about your life and your efforts — maximize your 20% inputs today!
NEVER GIVE UP!
Your partner in peace,
Kristina Haymes
Mediation Marketing Queen(TM)
www.mediationmarketingsecrets.com
Posted in Keys to Inner Mastery, Marketing Strategies, The Inner Game of Success, Practice Building Advice
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