Marketing Lagniappe – Pareto’s Law and Flipping Traditional Marketing on its Head
November 10, 2009
Click on the image above to view the Slideshare presentation
I just uploaded a new presentation to Slideshare. Here is a synopsis of the presentation:
- It talks about how traditional marketing is broken and the need to flip it on its head.
- It discusses Pareto’s 80/20 law and how it applies to traditional marketing.
- I put forth the Phelps 80/20 corollary on traditional marketing.
- It examines the flaw of focusing the majority of your marketing efforts on the purchase funnel.
- It discusses the poor ROI from traditional marketing and the revolving door effect.
- It introduces the idea of flipping traditional marketing by focusing on your current customers.
- It talks about the three benefits of putting your customers first: reduce attrition, increase satisfaction and loyalty.
- I define the concept of marketing lagniappe as the means to provide added value.
- It shows the net effect: new customers become repeats, repeats customers become occassionals, occassional customers become frequents and frequent customers become evangelists.
Check it out. I’d be interested to hear your thoughts on Pareto’s Law and the concept of flipping the funnel.
Today’s Lagniappe (a little something extra for good measure) – Check out the last slide on the presentation as I’ve put together a mocked up cover for my upcoming book, Marketing Lagniappe – In Search of Your Purple Goldfish
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The goal of marketing is to capture the mind and ultimately conquer the heart of your target audience.
The aim of 9 INCH MARKETING is to examine that journey. We'll explore 'how to' bridge the gap between traditional and social media by taking a sensory approach to integrated marketing.
Marketing has thoroughly evolved over the years. Print ads marketing seems to be on its way to extinction, coz it is expensive and does a lot or marketing efforts for selling your products and services. With the evolution of the world wide web the landscape of marketing has greatly changed coz you can post advertisements through social media and other mediums that are free of charge yet effective.