Apply 80-20 Rule To Your Business

When the Italian economist Vilfredo Pareto made a captivating discovery way back in 1906, he learned that 80% of Italy’s land is owned by 20% of its population. Later, as an economist, he learned that this is applicable to many instances. This 80-20 rule is named as Pareto principle and this can be applied to your business to understand and improve your operations, team and sales strategies. This principle helps you to identify your key customers and concentrate on solving their needs. It is not possible for any business to please everyone or make new customers every day. To increase sales/ profits, you should concentrate on your key customers. These key customers are the ones who mostly turn to loyal or repeat customers. This can be applied to your team also to identify the 20 percent employees who contribute 80 percent of sales and provide them the best of tools to maximize their performance. You can rectify any problem and encourage the remaining 20 percent to be more productive. This principle will help you identify the marketing channel which yields you the maximum returns. However this principle cannot predict the future. So, you need not limit other channels of marketing also. But this principle will help you identify the channel that is most responsive to your business. Social media is the successful marketing channel when it comes to online platform. Socially app can help you market your products online. This app gets you the stunning graphic design posters with highly engaging correlated content for your products in best price. You can beautify the poster further by adjusting its color to match your products. Share these amazing posters on your social media page to successfully market your products and grow your business.

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