Did you know 80% of your ‘success’ likely comes from 20% of your efforts?

, , , ,

Pareto’s principle is the idea that “for many events, roughly 80% of the effects come from 20% of the causes”.

Originally Pareto had observed that 80% of the land in Italy was owned by just 20% of the population. He then noticed that 20% of the pea-pods in his garden contained 80% of the peas.

In Marketing the principle is applied to illustrate that it is often just 20% of the activities you carry out that result in 80% of your income.

You can apply this to your particular business / marketing circumstances in the way that most suits you, some examples are below:

  • Maybe 20% of your “best” clients produce 80% of your income.
  • Perhaps 20% of your “difficult” clients produce 80% of your time consuming challenges.
  • 20% of your top selling products are resulting in 80% of your sales.
  • 80% of your leads come from 20% of your marketing efforts.

Take something that you would like to improve about your business or a particular issue you are having and see if you can apply Pareto’s principle to help you see where changes can be made. For example which are your top products producing the majority of your sales? Are these the same products that you are focussing your marketing efforts on in order to bring in even more sales? Who are your top clients or customers, perhaps it might be worthwhile celebrating the partnership with a small gift of thanks to them in order to foster the relationship.

How can you use Pareto’s 80/20 principle maximise the efforts in your business?

Contact My Robot Monkey Today – Full Service Marketing and Digital Agency www.myrobotmonkey.com.au

Why is social media important for your business?

, , ,

Social media has become a major part of modern day living, it is how we connect, share photos and plan events with friends and family, how we advertise our skills for work and how we express the things that are important to us. It has also become a way to share, promote and sell products and services. The latest figures show 81% of consumers go online to research before heading out to make a purchase, this is up 20% on last year and is expected to continue to rise. Social media accounts for a lot of this research; peers reviews and recommendations online have a big impact on a final purchase.

So we can see why a great digital and social media presence is so important for most types of business. In most cases the customers first exposure to you will be online; through your Website, Facebook or LinkedIn page or perhaps your Twitter, YouTube, Instagram or Pinterest and what they see and experience there will make all the difference.

Social media can help your business…

  • Generate leads and improve sales
  • Increase exposure of your brand
  • Improve search engine rankings
  • Increase traffic to your website through shared links
  • Build customer loyalty
  • Increase conversion rates
  • Carry out simple market research and better understand customer wants and needs
  • Lower marketing costs and strong return on investment

Although there are exceptions, not all types of social media are directly suitable for all types of businesses and if you are a smaller company or just starting out you run the risk of being overwhelmed by trying to keep up with all your different media. It is worth noting that if you do plan to plug in to as many social media outlets as possible there are many great software programs that help automate your social media updates, just be aware that you may run the risk of regurgitating the same information all over your outlets which will be tiresome to any potential customers who may have joined you in more than one site.

Service based businesses and B2B commodities are better off focusing on Facebook business page, Twitter, Linked in and Google+. B2C products and more luxury services such as beauty therapies, fashion services, clothing, cosmetics and accessories are more suited to creative, image based social media marketing through Facebook retail pages, Pinterest and Instagram.

So go ahead, dive in and get started, you’ll learn as you go. Social media is a great tool for the modern day business person and can really help with building a brand that consumers can connect to.

Contact My Robot Monkey for your Marketing | Creative | Digital needs! www.myrobotmonkey.com.au

How does your customer think about your brand?

Your customers’ first impression of your business will be determined through your brand; whether it be your business name, your colour palette, logo, website, advertising, social media or any element your customers may have seen or heard.

It is extremely valuable to align and communicate your business values and offering clearly, and to be consistent with all your customer touch points, as this may determine whether you gain or lose that customer from the outset.

In our world today consumers are overwhelmed with choice. Your potential customers are considering which company to engage with or make a purchase. By taking away all the road blocks, clearly communicating your message and being consistent through all forms of your customer touch points, you’re half way there in gaining that sale or engaging a new customer.

At My Robot Monkey we can help you understand how to clearly communicate your valuable message in a busy market!

www.myrobotmonkey.com.au

www.facebook.com/myrobotmonkey