Perry Marshall is a marketer extraordinaire, and is famous in the marketing world for his books on Google Adwords, and advertising on Facebook. Many of his customers come to him to figure out how to turn clicks into customers, but in today’s episode, he will be sharing more about his insight into the 80/20 principle, and how it applies to marketing. Listen to Perry deconstruct one of the fundamental laws of not just economics and the marketplace, but the universe, and pick up some great tips on how to leverage that, to grow your business!

 

Key Takeaways:

[:20] John welcomes his guest for this episode — Perry Marshall.

[2:10] Perry gives us his elevator pitch about what he does.

[4:04] What exactly is the 80/20 principle from a global standpoint, and how has Perry applied it directly to marketing?

[6:16] 80/20 isn't merely an economic rule of thumb; it is a law of cause and effect all over the universe. Perry explains with an example.

[9:00] It's easy to see the 80/20 in hindsight, but how can you use 80/20 in advance?

[13:08] Combining the principle of the hyper-responsive customer and 80/20, gives you a very predictable set of behaviors from these customers.

[15:11] John poses Perry a question based on an example that's relevant to many — if you increase the price on an existing product, does the 80/20 rule still apply?

[21:00] John shares his own experience of buying a company built around a software. His experience fits the 80/20 rule perfectly!

[22:56] Perry suggests looking into what band of financial value hasn't been harnessed to raise the value of a company.

[26:14] Perry talks about finding the levers that were previously invisible. What lever would make a customer buy an espresso machine as opposed to an espresso?

[32:40] Guessing is never a good idea when it comes to choosing between ideas. One person can almost never guess what thousands of people will like or not like.

[37:03] It's easier to work with the world that is, instead of the world that should be.

[42:35] Perry gives a living example of the split-test, something marketers should always do to determine where the market wants to go.

[47:30] Just by observing what happens in the marketplace, good marketers can identify some huge levers that allow them to flow with the natural way the market is moving.

[48:47] John has a story to share about Perry!

[49:59] Perry has a special offer on his book — buy it for $.01 + shipping, and get some bonuses with it! Get it from his website!

 

Mentioned in This Episode:

Financial Gravity

The Financial Gravity Podcast with John Pollock

Ultimate Guide to Google Adwords, by Perry Marshall

Ultimate Guide to Facebook Advertising, Perry Marshall and Keith Krance

80/20 Sales and Marketing, by Perry Marshall

Pareto Principle

Brian Kurtz