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NEW YORK, NY, July 11, 2014 /24-7PressRelease/ -- The 80/20 Sales Rule applies to sales and marketing. The rule, also known as the Pareto Principle, says that about 80 percent of sales come from only about 20 percent of customers. That 20 percent is where a company will make the most profit for their sales and marketing budget. The trick is to learn how as an entrepreneur/small business owner who manages sales, to identify and really focus on that profitable 20 percent of customers.
It is important to identify these customers as they will be the most valuable to a new company. Being in a position to focus on valuable customers might sound like a luxury. After all, most small businesses are appreciative for any kind of customer but every business can find customers that are more valuable than others. This can be for many reasons, from the size of their purchase to how easy the customer is to deal with. Successful businesses are usually those that have identified these customers, build relationships with them and can then use this knowledge to bring in new customers with a similar profile.
Understanding customers is likely to help a new business sell more. The more information collected about them and their needs, the easier it is to identify opportunities to sell them new products and target them with suitable offers. Keeping note of existing customers can also aid in finding new ones. This information can be used to look for prospects with similar qualities and then sell to them in a similar way.
The knowledge a business has on these customers can be used to improve efficiency. Keeping a record of customer details and sales can also reduce errors and speed up transactions. This can also improve customer service. Having better access to information helps deal with customers more efficiently. Product offers can also be personalised and special treatment can be provided. This data can also make it easier to identify and resolve any issues the customer may have.
Finally, identifying and understanding customers helps planning. Predictions about what they will buy can be made and this means estimates of how much stock is needed, can be accurate. Linking customer management to purchasing can drastically improve profitability.
F-1 Enterprise Inc is a premier outsourcing solution located in the Bronx, New York. The firm specialise in a range of services such as direct marketing and customer acquisition, and is highly sought after by clients for their personalised and unique service. They use direct marketing, a face-to-face marketing approach that is highly cost-effective and guarantees clients a higher return on investment than more traditional forms of marketing.
F-1 Enterprise use the 80/20 sales technique and say that it has enabled the firm to have an extremely successful start to 2014 and has given them the opportunity to put expansive growth plans in the pipeline for 2015.
About F-1 Enterprise Inc
F-1 Enterprise Inc. is an outsourced sales and marketing firm based in Bronx, New York, specialising in direct marketing strategies.
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