20/80 Rule
Pareto principal states roughly 80% of effects come from 20% of causes (from Wikipedia.)
That can be translated to "80% of sales maybe generated by 20% of customers" in businesses. Some suggest to focus on marketing toward this 20% group of customers instead of spreading the marketing effort to attract all customers.
I agree the importance of maintaining this 20% group but also feel I need to promote to 80% group so that they can move to 20% group. How? I still have to think!
Japanese version of this entry is here.
That can be translated to "80% of sales maybe generated by 20% of customers" in businesses. Some suggest to focus on marketing toward this 20% group of customers instead of spreading the marketing effort to attract all customers.
I agree the importance of maintaining this 20% group but also feel I need to promote to 80% group so that they can move to 20% group. How? I still have to think!
Japanese version of this entry is here.