You have probably heard of the Pareto Principle (also known as the 80/20 principle) that states roughly 80% of your results will come from 20% of inputs. The principle is based on the research of a man named Vilfredo Pareto who was an Italian sociologist and economist from the early 20th century. There is a great book on the subject called the 80/20 Principle by Richard Koch. This idea has been applied to all types of business related activities, for example: 80% of sales come from 20% of customers. It doesn’t always have to be 80/20; it could be 90/20 or even 99/10. The main point is that most of us spend far too much time and effort on the majority of activities that are not ultimately important to our business.
How Can We Apply This to Digital Marketing?
So you are probably asking yourself: what does this have to do with my digital marketing strategy? A great place to think about efficiency in your marketing is social media. There are a lot of digital strategists that will tell you that you need to use Twitter, Facebook, Pinterest, Linkedin, you need to have a WordPress blog and a Tumblr and Foursquare. Overwhelmed yet? The reality is the vast majority of businesses should not be spreading themselves so thin. If you are a Fortune 500 company and you can afford to have people to manage all of that, then by all means do it. If you are like the rest of us, it’s just not worth your time.
What Social Media is Most Relevant for Your Business?
Are you a company with a strong emphasis on visual elements? Pinterest is probably a good bet. Do you share a lot of news and ideas? Consider getting on Twitter. Are you selling a product that consumers love? Facebook is a great place to share. Are you a B2B company looking to expand? LinkedIn will probably help the most.
You don’t have to do it all. In fact, you shouldn’t. Focus your efforts on where you can create the most value for your potential customers. Make sure that you consider what is relevant for your business. Pick your top two social networks and learn the best practices. Then work at them consistently. You will see a far greater return on your time and effort.