Tuesday, June 14, 2005

The Pareto Law

The Pareto Law is one many know about. It's the notion that 20 percent of any given group accounts for 80 percent of the activity. This law has enormous implications for successful marketing. The key is to identify your 20 percent and proceed to court and spark.

Too much marketing is aimed at the masses, but think of the economies and efficacy of appealing to your Pareto 20. If you plumb that group for its characteristics, then you have a good idea who your most receptive target audience is. Once you know who you're talking to, you have a much better idea what to say.

It's a simply elegant marketing approach that works because it's based on a basic truth of human nature.

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