Best Ways to Improve the Outcomes of Your Marketing Campaigns
We all want the best outcomes possible from our marketing campaigns, right? I’ve helped various businesses increase their revenue by bringing in more clients or consumers with the use of Facebook advertisements. I’m accountable for some of the top campaign ROIs around the globe.
Let me take you back to Vilfredo Pareto, the inventor of the 80/20 rule and the Pareto principle. According to the guideline, 20% of any effort will often yield an outcome of 80%. 80 percent of our revenue, whether it be from a business or digital marketing, comes from our top customers.
This rule has been demonstrated to be accurate in a number of contexts, including marketing. It was advised to try to reach the top 20% of our ideal prospects and concentrate 80% of our efforts on them rather than attempting to reach all of our clients.
The same Pareto proportions no longer apply, which could have been true around three decades ago. This is mostly because of the development and widespread use of social media.
I don’t need to emphasize how active social media is, with users on all platforms participating in a variety of activities.
So let’s be very clear on what I refer to as “the 4 percent” or “the 96/4” guideline before we start producing an ad, coming up with leads, and using the communication language of our business.
My recommendation is to analyze your market and apply the 80/20 rule to determine which 20 percent of it we can best serve.
Then proceed to divide the initial 20 percent by another 20 percent, or roughly 4 percent of the market.
Obviously, learning about this information and putting it to use are two very different things. Visit www.workwithnic.com if you’d like to work with Nic one-on-one. So that he can assist you in accelerating the success of your company.
Consider the clients who have supported us the longest and from whom we have generated the greatest revenue to get a sense of who would make up our 4 percent.
They were so forthright about individuals. Who did not fit into their 4 percent because they were aware of who their target audience is? They added that they don’t believe in reducing the costs associated with brewing beer of a high caliber. And that they instead pass those costs along to their clients.
On the other side, being particular is what drives more people to our site. The well-known entrepreneur Seth Godin refers to this as “being famous to the family.”
So let’s design our digital marketing initiatives so that they may specifically target that 4 percent. This is what distinguishes between being a big fish in a small pond and a small fish in a big pond.
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