LEARN the 80/20 Law of Uneven Distribution
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Have you even heard about this law? Eighty percent of your overall business will come directly from twenty percent of your already existing, customer base. Since you’re in the sales business, learn the rule of Pareto’s Law of Unequal Distribution! You can’t change Pareto’s 80/20 Law, It’s been tested and proven, throughout the years. Work with it….NOT against it. Give 80% of your precious time, talent, and effort to the 20% of your customers, who already support your business. If you neglect your 20%, while you seek new business in other places, someone else will grab them away from you. Then "they" will become someone else’s 20%, as they EXIT in droves, as your 20%. A great deal of NEW business should come from your existing accounts. Work your strengths on a daily basis. Give more effort to what you already have in your lap.
In order to do this properly, you need to REALLY understand how to treat your current customers. Your customer service must be exceptional. There is no way to get around this principle. Auto-Response Systems can be used, but they will NEVER take your place. You just might auto-respond yourself, right out of business. If your competitors specialize in live customer service, you will lose business, if you don’t personalize your services. Your existing customers deserve the best. Give it to them, hey will be responsible for the greater part, of all of your new business. You really only have 20% of your time to prospect and cover the 80% of your customers, who are not contributing as they could be contributing, to your bottom line. This is how the law of uneven distribution should be made to work. Inventing new personal approaches isn’t smart. Pareto figured this masterpiece out hundreds of years ago. History doesn’t name timeless laws after people for nothing. Pareto’s Law has withstood the TRUE test of time. Follow his law and you certainly will Prosper and Stand the test of time, too!. Copyright © BillVannot.com – All Rights Reserved ———————- Bill Vannot is in the success for everyone’s business. Winners don’t have to crawl to the bank! Our Tow-Truck Marketing can help TOW you….to your intended destination: http://www.BillVannot.com This article may be reprinted freely as long as the reference box remains intact. |
April 26th, 2010 at 8:13 am
Bill:
Nice info on Pareto’s law. I really like the way you presented it as far as “Give 80% of your precious time, talent, and effort to the 20% of your customers, who already support your business.”
I have always looked at it by focusing on the 20% of work that builds 80% of your business. But you thoughts are more customer focused and you have really changed the way I will be doing business in the future.
Thanks,
- Rick
April 26th, 2010 at 5:17 pm
Bill,
That is food for thought…that 80% of your sales come from 20% of the marketers and that if you don’t provide personal responses to them, that they can go leave and find someone who will serve their interests and needs better. It is an important point to remember for the future. Thanks.
Hi, my name is Cheryl and I am one of Mark Terrell’s students. He asked me to visit blogs to gain traffic and also to learn. I’d appreciate it if you would visit mine and comment by clicking on a blog title and scrolling to the bottom and letting me know what you think.
Thank you.
Cheryl Jones
April 26th, 2010 at 7:01 pm
Hi Rick
Thanks for your comment…I’m glad that you liked the article.
I had a good teacher, a very wise lady from New Orleans, who unfortunately is no longer with us. It was she that first told me about Pareto’s law
Tale Care
Bill:)
April 26th, 2010 at 7:08 pm
Hi Cheryl
Thanks for your comment…it certainly has got a few people thinking:)
I will certainly visit your blog in the next couple of days and make a comment on one of your posts.
Good luck with your course with Mark
Bill:)