There is fair chance that you might have heard about Pareto principle. But the point is do you understand it? Or if we be specific, do you know its importance in social media marketing?
It goes under various appellations: “The 80/20 rule”, “law of the vital few” or “The principle of Factor Sparsity”
While this principle have wide ranging implications, it’s principle is very straightforward yet subtle
“80 percent of the effects come from 20 percent of the causes.”
It’s origin, interestingly, was a revelation about Italian land-ownership patterns: Italian economist Vilfredo Pareto (1848-1923) discovered in the course of his research that most of his nation’s land, around 80 percent, was owned by just a few powerful people: 20 percent of the population.
Pareto was surprised by this finding; and, to his astonishment, when he did more research, he learned that the major proportion of land in other countries and regions was owned by roughly 20 percent of the population in those places, as well.
The Pareto Principle, then, was first applied to wealth distribution. Later, it was proved to be operating in other arenas, too, from gardens and shoe ownership to crime rates and business:
20 percent of the pea plants in a garden produce 80 percent of the peas. (Legend has it that this was where Pareto first conceived of the principle.)
20 percent of the people in any given company earn 80 percent of the profits.
20 percent of your time can produce 80 percent of your results.
Software engineers spend 80 percent of their time on 20 percent of the software’s features.
Microsoft noticed that 80 percent of bug reports and error were coming from 20 percent of bugs.
Pareto, actually, seems to be everywhere we look.
As extensible this Pareto principle may seem, however, it’s not a magic trick. To be more precise, it’s a trend, something that happens most of the time. Because it is so simple and easy to understand, we find its application almost everywhere. From farming to corporate industry, marketing and sales, computer programming to fixing bugs, it is visible everywhere. No wonder it finds a strong position in growing blogging industry.
We all know that in blogging industry, content is king. But even if you create awesome and unique contents, and just sit there doing nothing and expecting it to do the magic trick, chances are your expectations are going to shatter, until and unless you are a super famous blogger, which I assume you’re not. Here’s where content and social media marketing come into play. We all are well aware of the power of social media. And most of us use it day and night to drive traffic to the website. But we all make a fatal mistake in the beginning, we spam the social media with our contents to increase traffic in a short period of time.
It is a fatal mistake and why is it so?
Because people join social media to be social, they don’t want to be your sales pitch target.
Pareto principle in social media
80/20 in social media updates
Ever wondered where those likes, retweets, pluses are coming from. 20% of your social media updates account for 80% of engagements. Use a social media tracker to track high performing updates and try to apply the same features in other updates to grow your social media presence.
80/20 for social media contents
80 percent of your updates should be educative and entertaining. Always remember that people use social media platform to socialize, they are not interested in your sales pitch. Moreover if you use groups, try to add value to that. Try to post something that is helpful for majority of the members. It can be an article, or helpful update. It can also be a quote. Always try to help other and add value to their work
Only 20 percent of your post should be promotional. It should clearly speak about your brand. Try to add what you have to offer, how you and your product can help them. There should be information regarding to your product or service, discounts offered and it should include strong statistics. Your posts should make an impact on users.
Add persuasive Call-to-actions in your promotional updates
Make sure you integrate a persuasive call-to-action that inspires your audience to learn more about your company so it possibly leads to conversion in the future.
Make your content shareable
Dedicating 80% to interesting content that really caters to the interests and needs of your audience means compiling content from influencers with whose ideas and insights you agree. It supports your thinking, the way you do business, or what you believe is going on in your industry. Think about retweets, inspirational quotes, links to news, questions, etc.
You simply look for content that appeals to your audience and share it on your social channels. Compare it to sifting through your own personal RSS reader to pick up on interesting new items.
These three simple steps will make the ‘sharing process’ a lot easier:
- Follow influencers, and learn from what they find interesting.
- Share interesting content with your own followers, and try to connect to them.
- Engage with your influencersso it motivates them to want to share your own content.
- Find people from similar niche and interact with them: Try to interact with similar people and build your own community and friend list of like minded people. It helps a lot
Pareto Principle in blogging.
80/20 in traffic from different channels
If you analyze your traffic channels, you will find that 80% of your referral traffic is coming from the 20% of your referrers. Keep a close look at those referrers and try to build a strong relation with them because they are responsible for 80% of your referral traffic.
80/20 in conversion from pages
When it comes to conversion optimization, notice that roughly 20% of your pages are responsible for 80% of your conversions. Keep a sharp look at the stats and optimize those high converting pages. Try to put highly targeted affiliate link or advertisements to see a sharp growth in sales or ppc conversions.
80/20 in Organic traffic
If you analyze your traffic details, you will find that there will be some posts that don’t perform well, hardly any view. There will be some who sometimes bring traffic and sometimes not and there will be some posts which are evergreen. They continue to drive lots of traffic. Focus on those pages, analyze them, their elements and contents, and try to improve them further. Try to improve their quality as much as possible and try to create new posts like those, because they have brought you 80% of your traffic.
80/20 in sales from advertising channels
When you take into consideration your advertising channels, you probably use adwords, retargeting and perhaps some site-specific banners, or other outlets. Where are most of your sales and leads coming from? Focus on the channels that produce the most
80/20 in Sales
What products do you sell? If the Pareto Principle holds true for your business, then you’ve got some hot sellers, responsible for around 80 percent of your sales. These are the products that you should work to enhance, promote, advertise and push. They’re hot sellers for a reason, so make the most of them.
80/20 in customers
If you check the records of your service or product buyers, you will notice that 20% of customers buy 80% of your products. So you know what you have to do, you have to focus more on those 20% make a strong relation with them, try to help them even going out of the way. These customers are your leads and they are your advertisers, nothing brings best long-time customers than word-of-mouth advertisements.
80/20 in customer complaints
This principle is true in this segment also. There are always some customers who complain a lot, make a fuss and are hard to deal with. Sometimes, we even wish that it’s better to have to no customers than customers like this. They are responsible for 80% of your time and attention. They are the one who drain out the maximum energy from your customer support. Always keep such customers in mind while designing your customer support.
The Pareto Principle is not a law. It can be applied sometimes in some circumstances, but not all the time.
The Pareto principle can be extremely powerful. And that means the same kind of power that comes from finally realizing that your data is telling you a story and that it is actionable.
Source : NeilPatel.com
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