Utilizing the Pareto Principle in Today’s Marketing Environment

As the VP of Strategic Partnerships and Sponsorships for the American Marketing Association Tampa, I am often asked to speak in regard to what will deliver companies the best return-on-investment for their marketing dollars. Many are surprised to hear me say that the best, often most strategic solution, can be had for less than $100 if you do it yourself, or less than $500 if you want a turn-key solution! It’s the blending of a 100 year old business principle and one of the most modern forms of communication.

The Pareto Principle, established in 1906, is also known as “The 80-20 Rule”. For businesses, it is a common rule of thumb that 80% of sales typically comes from 20% of  a company’s clients. So why do so many companies chase after “new sales” when their best prospects are their current client base? The answer is that many know there are dozens of ways to reach new clients, but they aren’t really sure how to engage the clients they already have?

An effective e-marketing solution, especially in the form of an e-newsletter or e-postcard, outperforms virtually any other type of marketing engagement available when it comes to return-on-investment. The biggest question, however, is often, “How do you ensure it doesn’t become just another piece of junk mail?”

We have found that effective campaigns are typically made of quick “news bites” that allow clients to quickly read bits of stories that interest them and then click to read more. These stories and video elements often direct clients back to your corporate website, social media channels or e-mail for more info. Most often, they include a focus on content, not sales pitches. Many include incredible tracking tools to allow you to see who opened what, what they clicked on and what topics your most important customers are interested in finding out more about. Additionally, an e-marketing solution allows that engagement on their terms, when it’s most convenient for them. That step alone will typically allow businesses to deliver the messages they want at a time most easily accessible to their core 80-20 clients. Almost no other media can deliver an ROI like that!

Want to have a free e-marketing mock-up made for your brand? Click HERE to request!