e-commerce & social media

This article delved into the idea behind the Pareto Principle, which is more commonly known as the 80/20 rule. Although this concept can be applied to anything in people’s lives, it relates to social media in what businesses should be focusing on. For instance, it is generally the very loyal and involved 20% of your customers who are going to drive more of your sales than say the remaining 80% who are also a part of your target market. Learning how to hone in on the exact customers who are going to make a real difference is the key to being successful. This does not mean that the consumers who are not as involved need to be forgotten about but rather, they do not require as much attention since their actions are not going to heavily influence the health of a business. This rule can also help companies in balancing the things that matter most to them. For instance, using the 80/20 concept for social media can aid people in finding the perfect amount of what content they’re posting. Perhaps the larger portion of their postings are curated from other respected sites and a smaller amount of statuses or tweets actually pertain to the company themselves. Overall, the 80/20 rule is a handy tool when it comes to understanding what a company should exactly be focusing on and eliminating any time waste could allow businesses to be able to further engage when it is really going to make a difference and with who it Is actually going to be with.

This infographic is a quick and easy way to understand the basics of the Pareto Principle as it pertains to social media.