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Most of us are familiar with our side of the 80/20 principle. We know that 20% of our actions will produce 80% of our results. So, if we’re smart, we’ll try to stay in that “20 zone” as much as we can. We’ll try to ruthlessly exterminate, delegate, outsource or even just ignore as many of the “80 tasks” that we can.
What about the customer side of the 80/20 principle? You know that 20% of your customers will provide 80% of your revenue. Did you know that 20% of the things you offer, provide, sell and even say account for 80% of the influence you have over those customers?
You must know your “whales”, as they are called in the casino world. What do they like and what will they pay more for? An interesting example about this is amazon.com. For about $100 per year, Amazon Prime members enjoy fast free shipping and even some free streaming of movies and TV shows. Prime members spend 2-4 times as much as regular members. That’s 200% – 400% more revenue than from a non-Prime member.
Those are Amazon’s whales and Amazon wants to net as many as they can. Amazon’s whales love fast, free shipping and Amazon knows that. What else do they like? Amazon is still trying to figure it out. They’re spending a lot of money trying to do so. It’s wise to try and you should be wise to do the same.
Do you know what your whales love? What would they pay more for? What will they leave you for if they do not get it?
- They love luxurious, tropical locations
- They love networking with high-calibre marketing minds
- They love seminars filled with cutting-edge info on how to make bigger profits online
This is why the company founder, Russel Brunson gives them just that. It’s why his affiliates have earned over $20,000,000 in commissions promoting to these “whales”.