98 - What's the 80-20 Rule in Jewelry Marketing?

Developed by Italian economist Vilfredo Pareto in the early 1900s, the Pareto principle, or "the 80-20 rule", states that approximately 80% of the results come from 20% of the causes or efforts. Did you know that the Pareto principle has a place in jewelry marketing? When it comes to marketing, a common trend among many jewelry businesses is that 80% of revenue will actually only come from 20% of customers because that minority consists of the best and most loyal customers who buy frequently. Do you find that's true with your business? Listen to this episode to learn more. Check out the accompanying blog post here: https://joyjoya.com/2020/09/24/whats-the-80-20-rule-in-jewelry-marketing/