The Pareto principle was named after its founder Vilfredo Pareto, an Italian economist. The 80-20 rule also known as the Pareto principle can be traced back to 1906. Back to: BUSINESS MANAGEMENT Back to: RESEARCH, ANALYSIS, & DECISION SCIENCE How does the 80-20 Rule Work? This rule helps businessmen to channel their investment only in areas that bring more returns to their businesses. Since in business most people are more concerned about the output (profits), this rule emphasizes that you focus your investment on the two items (20%) which are more beneficial to your business instead of wasting time on the other eight (80%) which are less productive. A simple way of explaining this would be, on any to-do-list, two items out of ten will turn out to be beneficial than the other eight put together. This means that 20 percent of the actions you take contributes to 80 percent of the results you are likely to get. The business personnel uses this 80-20 rule to explain how 20 percent of the clients, are contributing to 80 percent of the revenue. It is a business rule which states that 80 percent of many events come from 20 percent of the causes. The 80-20 rule, also known as Pareto Analysis, is the principle of factor sparsity. Need Help Becoming a Local Social Media Savant?Ĭontact BrandMuscle to learn about how our leading software and services can be leveraged to meet your social media marketing goals and scale its impact.Update Table of Contents What is the Pareto or 80-20 Rule? How does the 80-20 Rule Work? Applying the Pareto Analysis Modern Use of 80-20 Rule Advantages of Using the 80-20 Rule Limitations of the 80-20 Rule The Bottom Line Academic Research on Rule of 80/20 What is the Pareto or 80-20 Rule? Find news outlets that produce compelling lifestyle pieces that align well with your product offering, then curate it to appear on your social media feeds. For example, if you post 20 times per month, about 16 posts should include helpful content and 4 posts can be promotional.Ĭonnecting RSS feeds to a social media scheduling tool can also make it easy to find helpful content that’s relevant to your audience’s needs. You can easily look at the calendar to see how much of your scheduled content is geared to be useful to your audience and how much is promotional, or designate certain days of the week for different types of content. Using a social media scheduling tool or through-channel marketing automation platform can help you plan content according to the 80/20 rule. How to Plan Social Media Content According to the 80/20 Rule
0 Comments
Leave a Reply. |
Details
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |