The 80:20 Rule is effective for business management. The Italian economist Vilfredo Pareto created it in 1906, noticing that 20% of the people in Italy owned 80% of the land. A few decades later it also came to be known as the ‘Pareto Principle’.
Keeping things simple
The 80:20 Rule is also very simple. It says that 20% of invested input is responsible for 80% of the results or output. Because of its simplicity,it is applicable to many areas, including management, manufacturing and HR. It can be applied to digital marketing also.
Things are getting complex in digital marketing with fragmented audiences, hundreds of search engines and platforms. There are thousands of social media sites and products. Can Pareto provide tips to make our digital marketing simpler and more effective? Where 20% of the marketing actions result in 80% of the Returns on Marketing Investment?
How do we go about it? First, we identify the marketing outcomes that are most important for our marketing strategy. Of course, this is not easy to do. Next, we identify the most productive ways of achieving those outcomes. Everything cannot be equally important!
Digital Marketing Tips to minimize efforts and maximize results using 80:20 Rule
- Identify your core target audience. Invest 80% of your time and marketing budget on this primary core.
- Focus. Give your time and attention to content, products and segments which drive 80% or the majority of your online leads and sales.
- Stay simple. Complex, overdone content does not work as the most essential information can be missed.
- Avoid information overload. Look at the core object of your communication and create your content accordingly. Remember customers are in a rush.
- Use mobile marketing. Who knows,80% of online sales could soon be happening through mobile phones
- Making a call should be at a single click. Stop your customer from wasting 80% of his ‘call to action’ time in filling forms.
- Review and test your content. Watch and revisit your copy and visual content constantly. Test out alternatives and measure the results. Digital marketing offers a relatively cheaper way of testing messages and promotion ideas compared to traditional media.
- Customize content only where needed.
Sometimes, it may be better having the same compelling and tested content across all media. Customizing content for each channel could be a waste of time.
few more Digital Marketing Tips
- Engage. Listen. Don’t just sell – .Social media is more effective for engaging, interacting and listening to your customers. Of course, this trend could change in future. Also, listen to the biggest, most damaging customer complaints.
- Study Audience behavior –. Understand trends. Use authentic data.
80% of visitors to the landing page produced 20% of the sales or 80% of the searches employ 20% of the keywords! So, the Pareto Principle can be a useful tool to help us to think differently about improving our online marketing.
Digital marketing has become the essential part of the marketing plan of any business or company. Whether it is about the brand promotion, marketing a company or selling product or services, Digital marketing plays a significant role at each stage of your sales, marketing and advertisement activities. It’s vital to follow the current trends of the market to stay put on the stage of the digital realm.