80-20 Rule in Broadcasting
Ibrahim Turundu, CEO, Nigeria, Member
When Brian Tracy's "Eat that frog" introduced me to Pareto principle some years back, I called for our marketing books and to my surprise only about 20% of advertising agencies placed adverts worth more than 80% of our revenue on our stations.
We altered our revenue drive strategy so that 20% from top management and best sales staff followed up on 20% big clients while other staff followed up on the 80% majority. Results were immediately impressive.
Agencies are also mainly interested in placing adverts adjacent to news and a few high audience shows, loosely relating to the Pareto principle!
Now it all sounds like common sense, but discovering the rule and using it to our advantage was like magic....