Most Important Rule in Marketing?
My vote goes to Pareto’s 80/20 rule — 80% of the value or activity tends to come from 20% (or less) of customers, or whatever the active universe.
The rule is confirmed in marketing scenario after scenario, including fundraising.
Most recently, a Harvard Business Review study, reported here in Business Insider, finds that 90% of Twitter messages are generated by 10% of the users. Other interesting Twitter data here too.
For fundraisers, Pareto reminds us we must focus on our best donors, understand who they are and what drives them as best we possibly can, and direct the bulk of our fundraising and cultivation resources toward them.
This rule applies whether your portfolio is major gifts or direct response fundraising. For example, our DonorTrends research (see Donor Superstars white paper) indicates that about 20% of your donors could be "recruiters" for your cause or charity.
Is there a more important rule in marketing/fundraising? Tell me.
Tom
P.S. For more on cultivating your best donors, join our online Editors Briefing, Donor Loyalty: Curb Your Attrition, on Thursday June 4th at 2pm eastern. Register here.
One response to “Most Important Rule in Marketing?”
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I’m also a fan of “Crossing the Chasm” – finding the early supporters but making sure to continue creating broader causes and products that can gain mass support.
Great post – thanks!