229New Marketing Reality 2Let the triangle on the opposite page represent the population on a whole
and let the top part of that triangle represent the small number of people who
will give you most of your business. Most people agree that a small percentage
of the population will give them most of their sales. This 20/80% rule is widely
accepted. The top of the triangle represents that profitable group of prospects
or future clients who will purchase your product or service within the next few
weeks, months or years. They exist. They are real.
The bottom part of the triangle represents the vast majority of the population
and it is still where, our research clearly shows, most businesses attempt to find
business. This is why so many of them work so hard for such poor returns, yet
they continue, year after year trying to find customers in this vast wasteland that
we call the Unknown Marketplace. We named it that because what’s unknown is
the people’s predisposition to buy what you are selling. You are throwing all kinds
of money, time and effort to a huge group of people who have not identified
themselves as somewhat predisposed to buying your product or service.
The way to win in business is to only market to and spend time with the Known
Market. The 20% of people who will yield 80% of your income; those people
who have put their hands up and somehow said, “I’m somewhat likely to buy what
you are offering!”
By attempting to find the Known Market from the bottom up, you are doomed
to poor sales and marketing results. A much better method exists. It causes the
Known Marketplace to come directly to you!