Marketing consultant Perry Marshall demonstrates vividly and firsthand how the 80/20 principle can be applied to sales and marketing:
By focusing on that 20% of the market responsible for 80% of your success, you can save a large portion of the costs and time invested. If you invest this time in turn, you can increase your success by factor 16.
The principle can even be potentiated: 80/20 squared means that only 4% of the market is responsible for 96% of the success. If you concentrate on this 4%, you can increase your success by factor 256.
Who are these 20% or 4%? They are those buyers who are willing to pay many times the regular price for better quality (be it performance, aesthetics, reputation, customer service, etc.).
The book describes how to find these customers – through market research, marketing via search engines and social media, and lead generation – to hiring the right people and outsourcing everything that is not a core competency.
Numerous examples demonstrate that the principle works not only in theory but also in practice.
Tools available online, such as the 80/20 Curve and the Marketing DNA Test (available for free if you have purchased the book), reveal the extraordinary potential of the principle.
The book is easy to read; it consists of short chapters, each concluding with a summary of the key points ("Pareto Summary").
The book is suitable for both novice and experienced marketers – and a recommendation for all who want to make their work many times more effective.
🎧 Suitable as an audiobook? No, due to numerous screenshots and diagrams.
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