Each week on Friday, the Beat will publish this marketing informational newsletter by Sabrina Pack of SkyWest Media and Silver City Radio.
Did you know that the Pareto Principle, also known as the 80/20 Rule, states that roughly 80% of a firm’s revenue comes from 20% of its customers. When considering the magnitude of this statement, then it should highlight to managers the value of their core customers and importance of brand loyalty. Keeping those customers happy and engaged with your brand is critical to your success. This is especially true for small markets, because we do have a limited population base, meaning more than ever those primary customers are so very important to our continued success.