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The 80/20 Strategy To Social Media

The 80/20 principle is a concept developed by economist Vilfredo Pareto that originally applied to population and wealth. He noticed that 80% of Italy's land was owned by 20% of the population. What's interesting about this concept is that it applies to so much more. For example, you might wear 20% of your shoes, 80% of the time. 80% of your profits might come from 20% of your services.

It doesn't have to be 80/20. It could be 90/10 or even 95/5. The concept still remains the same: correctly implementing a few marketing strategies will provide 80% or more of the results.

One of those strategies that can make a difference for your business for minimal effort and money is social media marketing. Watch the following video for more information on the 80/20 principle:




Before we dive into social media, you should have already tackled two other priorities (or are planning to soon):

  1. You want to have quality service. Word-of-mouth is the most effective type of marketing for a cleaner and if your customers aren't happy then no amount of marketing will help you in the long term. It seems obvious---like eat less, and exercise more for dieters---but most companies don't focus enough on this.
  2. Manage your Yelp presence. Most people will find a new cleaner by asking someone they know. Others, especially those under 40 will search online for dry cleaners in their area. The first results they see are typically the cleaners with the best Yelp reviews. Make sure you're managing this constantly so that you're one of the top listed cleaners.

Beyond this, there are many marketing strategies to choose from, but one of the cheapest is social media marketing.

Like marketing strategies, there are a multitude of social media websites you can choose from such as Twitter, Google+, Instagram, Snapchat, etc.

Luckily, the 80/20 principle comes to save the day again. As a dry cleaner, you want to market to people who can afford dry cleaning and are willing to pay for it. Generally, these are folks who are over 30 years old. Luckily, that target market overwhelmingly uses one social media website: Facebook---meaning that you'll get 99% of your results from focusing on this one website.

Next Module - Module 2: Social Media Expectations
 
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