How to Increase Sales and Marketing Results by Using 80/20 Principle with Perry Marshall | #60

Ep #60: Think about those people who you try to sell something. There are two groups of them. First, are those few clients that you love to work with. The second group, people who you try to sell, follow up for a long time and many still buy nothing.

In this episode, Perry Marshal shares how to increase sales and marketing results by using the 80/20 Principle. He will explain how it works in business and how to work with that 20% of the best.

Perry is one of the world’s most expensive and sought-after business consultants. 

More recently, he’s turned “80/20” into a verb. 80/20 is not just a fact about your business, it’s the action you take on your business. 80/20 is the central lever for every great strategy. His book 80/20 Sales & Marketing is mandatory in many growing companies. His books are course material in several business schools.

Time Stamped Show Notes:

[00:22] About the episode and Perry Marshall [02:02] How an innocent prank at work got Perry fired from one of his first jobs. [04:39] Perry’s stream of early ‘failures’ in school and work and how he was led to entrepreneurship through a multilevel marketing company [07:26] Perry picking up entrepreneurship skills by selling stereo equipment [09:01] How Richard Koch’s The 80/20 Principle fueled Perry’s Eureka moment regarding 80/20 Sales and Marketing [11:28] Professional gambling informs Perry’s and John’s skill in finding ‘marks’ – key player/customers to engage with [15:13] How the 80/20 Principle works in sales and marketing [17:10] An example of 80/20 Principle where the entry-level clients buy $5 lattes and the best clients buy $2,700 Espresso Machine [20:58] How to sell long-lasting and profitable results, to clients, not just procedures. [23:49] Engage and Survey your customers to find your key 20% [25:51] Why you should not treat clients equally [27:47] Eliminate and Disqualify Clients in the Sales Funnel [28:15] Perry highlights the Five Power Disqualifiers to reduce prospect pressure and secure sales [30:32] How Perry applies Disqualification and Elimination to the sales funnel of his most popular book by suggesting people take a quiz “Should You Be Advertising on Facebook?” [33:03] The number one thing you should do right away is fire your worst customer [34:13] Where to find Perry Marshall online and learn more about the 80/20 Principle in sales and marketing [34:59] For the show notes go to marinabarayeva.com/60 and subscribe to the Marketing for Creatives show

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