Pareto’s Principle reminds us that roughly 20% of your customers will generate 80% of your profits. So if you’re looking to grow your business, you need to identify this 20%, profile them, look after them and find more like them.

Your action points:

1. Identify this 20% segment in your customer database.
2. Create a profile or ‘persona’ of your typical ‘ideal client’. You may need to create one for each of your primary customer segments.
3. Create a visual representation to help your team understand who they need to target.
4. Make sure that they’re being properly looked after.

   Talk to them and check that you fully understand why they are buying from you. Check if there is anything else you could be doing to improve upon the service you provide.

5. Develop a strategy to recruit more people like them that fit this profile.

By defining your ideal client’s persona you are helping to pin-point the people who matter most to your business. You can then focus your resources on marketing to them, and to people like them.