The 80-20 rule changes the leads generation game.
Most of us know it first hand: Of your total number subscribers, readers, customers or downline, about 20% give you most of your action. Sometimes, it's much less.So if you have 100 readers, 20 (or less) will be your regular buyers, waiting for your new stuff. The rest are well, not very important to your financial well-being.
Most leads generation programs or traffic-getting programs, though, entice you with BIG lists. (And of course, in 15 seconds.)But whether you have 355 or 35,550 on your list, those who perform regularly (that means "buy" if it's your subscribers) comprise less than 20%.
So what does that mean for your list building focus?
This: stop fixating on building a big list. Very expensive to get a list where 80% do zip.
Build only the 20% part of the list. Those who will LOVE it, and buy regularly because they love what you offer.Why focus on the others?
Next: What to offer the 20%-ers...
9 comments :
very good analysis on using 80/20 rule on building a list. thanks
Good morning Kim,
Have you been reading John Assaraf's "The Answer"? I just downloaded it from itunes this past week and was listening to this same thing yesterday.
Great post!!
Roxanne
Roxanne - have not heard anything by Assaraf...obviously great minds...hehehe.
A very awesome post! The 80-20 rule holds true time after time and while not always exactly 20% it is typically close enough.
Thanks for a great post.
Glenn Antoine
Persistence Marketing
http://www.persistencemarketing.net
Thanks Kim. I think that is great advice and have been thinking along those lines lately with my social networking. It's not about the list it's the quality of the list. Are these the people who would benefit from what you have to offer?
Thanks for confirming my thoughts.
Ellen
Hi Kim,
I agree that 80% tend to do nothing in terms of buying or taking action.
What I perhaps missed is how you propose to only get the 20% who are active without also getting the 80%.
If there is such a system or filter that would do the elimination to start with then I'd like to explore it. Any suggestions?
Funny how the numbers don't always add up the way you would like them too. You are right, it is usually 20% or less that is getting the job done and the rest are just hangers on or space fillers.
Hi Kim
I agree that 80% tend to not take action.
I am looking forward to findout how you get the 20% who are active without also getting the 80%.
Thanks for your thought today.
Donna
This sounds like advice to those trying to photocopy on both bsides of a sheet. Ever noticed that it's the second side that gets jammed, rarely the first? So solve this by copying the second side first! This advice usually results in odd looks from the receiver!!
I'll be interested to see how to eliminate or reduce the 80%!
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