Italian economist Vilfredo Pareto famously implied that 80 percent of the effects come from 20 percent of the causes. That assertion, although once accurate, is now outdated.
While the 80/20 rule certainly has benefits in framing our minds to efficiently prioritize vital activities over more trivial ones, the truth is that marketers today find themselves in a post-Pareto world, where the causes and effects of consumer actions are driven by an even smaller, elite minority.
The 80/20 rule has become a much narrower one: in today’s marketing environment, less than 1% of customers are driving 90% of the overall revenue.
By identifying and nurturing your most valuable customers, brands can gain a sharper perspective on how to improve the overall shopping experience. Learn about five metrics that will help you identify these customers and how to start engaging them in this blog post.
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