How, 80% of your sales come from 20% of your customers?

The fact is that this is no doubt the case with many businesses, small and large. This means that most likely, your next sale will come from someone who has already done business with you. Back in 1906, Wilfredo Pareto learned that 80 percent of Italy's wealth is owned by only 20% of the population. Then one day, after inspecting his garden, he again noticed that 20% of his pea pods were 80% of his crop that year. Was there a lesson here? This made him think, and before long, the "Pareto Principle" was established. With the same accuracy, the same principle can be applied to business. You may know as a rule of 80/20. This lesser-known policy provides more insight into how businesses should be run. Instead of investing in a new business, you may be wise to spend a lot of time tracking down and helping people who are already giving you business. After all, you have already removed the first bar. Should current promotion increase automatic? As long as you are busy tracking and providing high quality service. What does this mean for you? Just think, about one-fifth of your customer is just waiting for you to give them something new. So if you do not follow your existing customers, you are actually exceeding 80% of your potential business. Of course, if you have at first given a bad experience, this may not be the case, but for businesses that pursue the goal of integrity, this should be a natural course. Think about it. Maybe you already invested a lot in getting that first business? Editing, advertising, advertising work. Now is the time to improve their “lifetime value.” There are many things you can do to show appreciation: Christmas and birthdays: a great time to send a thoughtful gift or email. Go to events: if your customer is hosting an annual charity event or a specific type of meeting, make sure you take the time to attend and show your support. Renewal: a good time to touch the foundation with a renewal notice that shows your heartfelt appreciation for their business. Recommendations: Put your money where your mouth is and show the number of your customers. An incentive gift or discount can go a long way in terms of future income. Tip of Contact: Call your customers regularly to see how they are performing, how the product / service you are selling works and to ask or listen to any other requirements. Use newsletter subscriptions to stay focused. Good service: the best way to ensure that customers will remain loyal. Go over and over. You will be amazed at how much attorney a customer can be an attorney in terms of transfers. Make sure you provide them with additional products / services that will meet your real needs. If they love you and the product they bought, they will buy from you too. The important thing is to always try to meet the needs of your current and future customers. Opportunities Never End!