From the course: Create Your Brand Message Strategy
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Work with your ideal customer
From the course: Create Your Brand Message Strategy
Work with your ideal customer
- Companies waste far too much time trying to satisfy some customers that will never be satisfied or trying to convince people of their value. You've probably heard of the Pareto principle, also known as the 80/20 rule. The 80/20 rule States that 80% of your income comes from 20% of your customers. While there might be some mathematical truth to this, it's not an efficient and profitable way to run a business, because if 80% of your income comes from 20% of your customers, what's really happening is you are wasting your time on eight out of 10 customers. And you know the customers, the ones you bend over backwards for, jump through hoops for, and they are almost always the least profitable. On the other hand, there are those customers that are a pleasure to work with, that are almost always the most profitable. You want more of those customers, right? Well then, how do you do that? First, you keep in mind, it is…
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