the question arises
The Pareto rule in sales works no less efficiently than in other areas. It has long been proven that 20% of the most loyal and loyal customers provide 80% of the company’s profits, and the remaining 80% of customers – only 20% of the profits. However, most business owners, heads of sales departments and sales specialists are working hard to increase the second 80% of customers, while it is worth focusing your efforts on the first 20%. This article will discuss how to work with clients so that they become your loyal fans and gradually increase the number of the first 20%, and, consequently, the amount of 80% of the profit.
If you are responsible for sales in your company, or for business development, then the techniques that you will learn about in this article are the shortest way to take your company to a different level and achieve the speed that was planned. These strategies are suitable for small and medium-sized businesses. They will not require large investments from you, and some of them are generally free, but at the same time they are very effective. Continue reading
The principle of the invisible hand of the market is a term coined by the Scottish economist and one of the founders of modern economic theory, Adam Smith, to explain the mysterious processes in the market. He realized that the behavior of buyers and sellers in the market is determined not only by their desires, but also by some third party that is not visible.
The principle of the invisible hand of the market
For the reason that this side is not visible and clearly has to do with the market, it was called the “invisible hand of the market.” This third party coordinates the decisions and desires of buyers and sellers, and does this unnoticed by them. Continue reading