The 95:5 rule, in short, means that at any given moment, 95% of your potential customers are “out of the market,” meaning they are not actively involved in the process of searching for the solution you offer.
On the other side are 5% of those who participate in this process.
Sooner or later, people/companies in that 95 percent will netherlands telegram data “enter the market,” i.e., they will start looking for products/services in the categories you offer.
How does this tie into what we learned today about brand awareness?
This means that once these potential customers enter the market you are interested in (joining the group of 5% of entities), they are much more likely to ultimately choose a company they learned about while they were still in the group of 95% of potential customers.
Recently it has become popular to direct your message only to the 5% that are currently “on the market”.
If you want to significantly increase your chances that a customer in this group will choose your brand, you need to start directing your message to them before they even think about searching for the products or services you offer.
Of course, in practice this is easier said than done, which is why it is sometimes worth using the help of external marketing consultants who will show you how to build the right brand image and thus effectively increase brand awareness.
Thanks to this approach, you will ensure stable development of your business and protect it from problems in acquiring new customers.
We talked more about the 95:5 rule in one of the episodes of our podcast, which I encourage you to listen to.