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What is the Pareto Principle?

What is the Pareto Principle?

The Pareto principle is just a fancy term for the 80 / 20 rule. The 80/20 rule can also be referred to as the law of the vital few and the principle of factor sparsity. A fella by the name of Joseph M. Juran, who is a management consultant, suggested the principle and decided to name it after Italian economist Vilfredo Pareto.

You may have heard of the 80 / 20 rule in regards to social media marketing but never understood the theory. The 80 / 20 rule is a key component to social media marketing and we highly recommend following it. In a nutshell, the 80 /20 rule means that 80% of the social media postings are not directly business related (but industry related) and 20% of the social media postings are directly related to your business services.

Since we are on the topic of tires and tire dealers, we’ll use this industry as an example. The social media postings of a tire dealer’s page would be 80% about the industry so a funny tire meme, a Good Samaritan story of someone buying tires for a stranger or a YouTube video on how tires are made. The 20% would be about the company in general so coupons, rebates and news around the store.

If you’re wondering what the big advantage for the 80 / 20 rule is, it’s really quite simple. It’s about keeping customers engaged to your platforms. We’ve all seen the profiles that are filled with self-promotion and it gives the idea that the company only cares about themselves. Sharing posts that fall in the 80% category create user engagement and will trickle down to increase of reviews, messages and more!

Reach out to Upright Tire if you are interested in social media marketing services. Upright Tire has a great wealth of knowledge in the online marketing industry and social media is just a slice of the pie!

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