Why the Pareto principle, aka the 80/20 rule, is so important in marketing
Anyone who is in marketing has heard of the Pareto principle, better known as the 80/20 rule, at least once. In the late 1800s, following empirical observations supported by statistical evidence, the Italian economist and sociologist asserted that 80% of overall results come from 20% of all causes. In time, this principle has found several applications in various fields, especially in economics. We believe that the 80/20 rule is particularly useful in marketing as it helps us identify real growth strategies and is a valuable tool to guide our actions. How can such a simple and outdated rule still be so effective and relevant? Let’s find out together.
