Pareto Principle

The term "Pareto principle" can also refer to Pareto efficiency.The Pareto principle (also known as the 80–20 rule, the law of the vital few, and the principle of factor sparsity) states that, for many events, roughly 80% of the effects come from 20% of the causes. Business-management consultant Joseph M. Juran suggested the principle and named it after Italian economist Vilfredo Pareto, who observed in 1906 that 80% of the land in Italy was owned by 20% of the population; Pareto developed the principle by observing that 20% of the pea pods in his garden contained 80% of the peas.It is a common rule of thumb in business; e.g., "80% of your sales come from 20% of your clients".
Posts about Pareto Principle
  • Stay a Step Ahead on Social Media: Tips from SMX Social in Las Vegas

    … that targets young students up late at night? Post in the evening. Go for it. The takeaway: Know your demographic and meet them on their terms. There is a wealth of tools out there for discovering when your followers are online. Facebook has Insights, Twitter and Pinterest have Analytics, and Simply Measured offers analytics tools for LinkedIn…

    @ProBloggerin Social- 18 readers -
  • 5 Things I Would Do If I Were Starting Affiliate Marketing Today

    … a Skype wall with “Hey, how are u?” repeated ad infinitum. Their attention goes, firstly, to the volume players who already generate good revenue. Forget the Pareto Principle. We’re talking 95/5 laws of revenue distribution here. With that said, you will need to come up with some novel ways of extracting information from key industry figures: Your…

    Finch Sellsin Affiliate- 14 readers -
  • 2014 Holiday Marketing Guide: Lessons From the Big Wigs

    … as a springboard for planning is a non-intimidating place to start. According to the Pareto Principle, 80% of your business comes from 20% of your total customer base, and this is unlikely to skew much during the holidays. To increase your holiday sales, focus first and foremost on increasing your sales to your most loyal fans and of your top-selling…

    Chelsea Baldwin/ The Daily Eggin Social EMail- 22 readers -
  • Identify and Market to the 5 Types of Freelance Service Clients

    … different type of clients have different mindsets. They have different expectations and different assumptions. If you position your freelance service to the wrong kind of client, you are not going to get the results that you are looking for. In fact, you might be getting the results that the vast majority of freelancers from India, Pakistan, the United…

    Gene Eugenio/ Marketing Beesin SEO- 13 readers -
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