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Know-Wow! (4): The Low of Wow (or the “10-300 Principle”)

February 28th, 2007 · Add Comment

Part 4 on KNOW-WOW!: the art of delighting to achieve success in business.

You all know of Pareto’s 20-80 principle. It says that 20% of your input (products, markets, customers) will bring you 80% of your overall output.

Well, the input-output imbalance holds true here as well. Actually, this imbalance proves to be even more dramatic, as there are human emotions involved. This principle could be called the “The Law of Wow”, or, if you will, a 10%-300% principle. Let me try to phrase it:

“If you invest 10% more effort in trying to wow your customers, you will stand a 300% better chance to win prospective customers than your competitor”.

How come? Well, imagine being “only” 10% taller than anyone else around you. Who will stand out and get attention of ALL? By being 10% better (faster, less expensive, prettier…) you will get attention of ALL your prospective customers and thus far better chance to convert them into your real customers. It takes only 10% of your extra effort!

Tags: "Know-Wow" · Viral Marketing

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