The 80/20 of business: the principle which states that 80% of a business’ outputs (profits) comes from 20% of their inputs (consumers). In other words, the majority of a business’s profits can stem from a small segment of their consumers which they can then focus their promotional efforts towards. The real question, however, is how does this principle affect social media marketing, and how can a business use it for effective promotion?
To start with, what is social media marketing? It is the strategy businesses use to advertise their products and services across selected social media websites. However, using every social media platform there is just to promote your business is not the most effective strategy. This is where the 80/20 of business principle comes in.
Instead of focusing promotional efforts towards a specific market or consumer, the 80/20 of business rule is used in social media marketing to ensure a business worries less about promoting their product or service and concentrates more on developing positive relationships with their consumers online. Therefore, 80% of a business’s content should be produced to engage and interact with their consumers, whilst the other 20% should be used for promotion. The 80/20 of business principle should be incorporated into every business marketing strategy to ensure that social media is not being used just to advertise products and services to consumers. The majority of a business’s social media activity should focus on being inspiring, informative and educational, with occasional drips of promotional content.
For example, if you have an eight-week social media campaign put in place to increase your brand awareness and popularity online, then only two pieces of promotional content should be posted across the campaign at most. The rest of the campaign’s posts should focus more on producing content that engages and interacts with that business’s target market, such as assisting them with any enquiries they may have regarding a business’s product or service and delivering efficient responses. This will provide more positive results as good customer service leads to customer loyalty, which will make their consumers more inclined to spread the word online and tell their friends, family, colleagues, etc. about their favourite brand’s product or service.
Overall, the 80/20 of business principle affects social media marketing by focusing less on who a business’s product or service is being targeted at, and more on how it is being targeted in order to produce the most effective results. Businesses can utilise this principle to ensure that they do not waste time, money and effort on predominantly promoting their products or services just to increase their sales, when they should be applying these resources to consumer engagement which will expand their brand awareness.
There we have it. I hope you have enjoyed reading this blog and have found it highly insightful.
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