The Pareto Effect tell us that 80% of results come from 20% of the causes. From a social selling perspective, striving to be part of the 20% will allow you to dominate your market.
In life we're often presented with very real and defining choices. Most of us don’t like to face these, but these choices help us become who we are.
Our careers are no different.
The Pareto Principle, or Pareto Effect, states that roughly 80% of the effects come from 20% of the actions or causes. We know it more popularly as the 80/20 rule.
In the world of sales today we are also being presented with a very clear and defining choice: learn social selling or risk fading into obscurity.
Perhaps obscurity is not the right word – I feel the consequences of ignoring social selling are even more severe than this. Ignoring social selling can mean losing out on deals to the point where it materially affects your bottom line! This may sound harsh and stark but it's a fact.
What does the Pareto Effect have to do with social selling? It means that you should strive to be in the top 20% of the world’s sales professionals when it comes to mastering social selling concepts. If you do, by the time the other 80% start, you’ll be in an elite group that has already begun to dominate.
Think about your industry. Do you work for a company that’s in the top 20% of the space? If so, are you in the 20% of the elite sales professionals there? If not, you don’t have the 20/20 advantage (a term invented by a good friend), you just have a double whammy!
If you’ve been prospecting the same way for the last 5, 10, or 15 years, it’s time to start to change. You must add social to your mix. As the majority of the world’s workers become millennials, social media usage for business purposes will only increase.
As purveyors of social selling, I feel confident enough to say that it's clear that there hasn’t even been a 1% penetration in the market with it (yet). This presents a massive opportunity for you.
If you’d like to have an extreme advantage over your peers and competitors, social selling is something you must learn today. Would you rather dominate or compete? The choice is really that simple.
If you’re looking for a right time to learn social, you’re thinking about this the wrong way. It’s better looked at from an opportunity cost perspective. You need to get into the mindset that you’re already behind – because technically, you are. There are already social selling superstars starting to emerge in every country around the world. Your runway for takeoff is shrinking by the day and you need to move swiftly.
The Bottom Line
Those that are start early often have an extreme advantage over those that start late. If you adopt social selling early, you’ll have enough leeway to make mistakes and learn along the way. By the time your competitors start, you’ll have learned so much that you can use that insight to start dominating your competitors.
Want to be in the top 20% of social sellers globally? Contact me today to learn more on how you can start. Let’s set up 15 minutes to talk and I’ll walk you through a few easy ways to get the ball rolling.
To learn more about Social Selling check out 10 Steps to Becoming a Social Selling Machine or 9 Steps to a Winning LinkedIn Profile for Sales Professionals.
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