Use the 80/20 principle for greater productivity in marketing

If you are starting a new business, it's important to prioritise tasks that are most important. Return on investment isn't just a benefit of marketing investment; it's a way to think about how much time and effort you invest.

Richard Koch’s book "The 80/20 principle" is about concentrating attention on results. He uses Pareto's theory that 80% of consequences come from 20% of the causes. You can use the principle to prioritise marketing activity.

For instance, when you can identify 20% of the customers/clients that yield 80% of profits for your business, you can look for more clients that have similar characteristics.

How about identifying 20% of the tasks that generate 80% of output? or figuring out 80% of the tasks that can be delegated to free up more time on the tasks that only you can do?

This principle works when you consider the science. Research conducted by psychologists about our ability to multitask showed that switching between tasks is not without consequences such as reduction in memory, productivity and performance.

Working out your priorities requires the focus of one task at a time, when combined with the 80/20 principle, you'll find that you'll achieve more with less.