When you analyze your customer database, don't be surprised if that reliable 80/20 rule is working.
If you haven't been analyzing the ratio of sales to customers, now is a good time to do so.
The 80/20 rule can be interpreted here as: 80% of results come from 20% of customers or prospects. This means your analysis will probably reveal that 80% of your sales are coming from 20% of your customer base.
Is this new to you or do you need this reminder to examine the way you treat that valuable 20% group? Recognition and praise will help while you're exploring some reinforcing reward systems.
The 80/20 rule may also apply to your prospect list. In this case, the challenge is to find ways to identify that 20%. Studying the demographics and psycho-graphics or formulating test questions can offer solutions.
Stories from members will add great value to these maxims
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