Expert view: The 40/40/20 rule
Ignition managing director Andy Chemney reveals the sources of business success.There’s an important formula in marketing called the 40/40/20 rule.
It holds true for all industries and it works like this:
- 40% of the success of your marketing is dependent on how well you target your prospects. You need to ensure you are delivering a highly relevant message to the right prospect at the right time. Segment your prospects by behaviour NOT by demographics.
- 40% of the success of your marketing is dependent on what you’re offering. So your messages won’t succeed unless the offer is important and has recognized value by the recipient.
- 20% of the success of your marketing is dependent on the creative implementation. After you’ve targeted the right audience and developed the right offer, the next step is to ensure that you package the message in a way that will ensure it will be noticed, read and acted upon.
- 80% of your success is dependant on good, solid marketing research of your prospects. Do you spend the time getting this element right?
- All that research is wasted unless you are working with an agency that can help you cut through the clutter and deliver a creative strategy that will get you a response from those prospects – whether it be online or offline.