Internet Marketing Strategies – How to Apply the 80 – 20 Rule
There is so much which we have heard about the 80/20 rule. Let us see the ways in which this rule can be applied to the internet marketing strategies.
What is this 80/20 rule? This means 80% of the success in the internet marketing and 20% of the skills of the people. In the internet marketing, there is a huge difference between the people who are successful in this market and the people who have not yet seen any success in this. But the second set of people is still struggling because they know that they have already won the 80% of the battle. As they are the one who are entering the world of internet marketing. So 80% is contributed by the exact mindset of the people. Half of the battle is won if you have right mindset and approach towards the success of the new business.
In this situation there are few people who think that they should pay attention to the how to part of the business and for this they get engaged by learning the planning. They do not have proper mind set and when they face a small mistake, they give up from their work. Another way of applying 80/20 rule is by saying that 80% of the revenue will be generated from the 20% of the customers. Now how to conceptualize this? This means that there might be many customers in the email marketing system but there are only few stable customers who are responsible for the regular cash flow and the revenue of your internet business. They are one who get attach with your products on the other hand there are those customers who just buy once or twice from your site and then move on with others.
Third major way of applying 80/20 rule is that 80% of your project will fail and 20% will be successful. It is known that some of the best marketers fail 8 times for every 10 times. So keeping in mind this thing, you should never stop your work. Never try to give up the work by facing failures.