Successful youth marketing comes down to successful execution of the 90-10 rule:
Focus 100% of your energy on 10% of the market. (…and let that 10% take care of the remaining 90%)
Unfortunately too much youth marketing dilutes itself by committing 100% to 100%. Too often Product Model requirements compounded by reach-based agency tactics compel companies to mass market mediocrity.
Seth talks about through the analogy of the farm. How big’s your farm? Large farms require large budgets, large investments in machinery, manpower and seed. Small focused farms require fewer overheads and are far more profitable.
Apple and RIM are a good case in point: 7% of the mobile handset market (share), 22% of its revenues and 62% of its profits. (see mobileYouth report for more data) By focusing on a small beachhead brands can use profits to reinvest in product development and marketing.
In my own experience, this holds true. Stop selling to the unconverted.
For the first 7 years of our business we were selling to the unconverted – pitching mobileYouth to people in organizations who either didn’t get the need for the “youth thing” or just didn’t get it. So we’d labor the conversion – evidence, case studies, presentations. It’s hard work. Stop caring about the 90%.
Find the 10%, the Passionistas, the beachhead.
The good news is you don’t need to go looking for them, they find you – you just need to give them enough Social Currency to make it happen. Agents of change need you, they come looking for you. See the presentation deck below – according to Slideshare 9000 active views in 3 weeks (that’s 9000 people interact with the deck, not 9,000 land on the page). These are great tools for generating business because you’re attracting the Agents of Change – the 10% – not the 90%. You’re attracting people already sold on your idea, your model, your product. Talking to and motivating the 10% doesn’t drain your marketing of resources and energy.
Go Create Something.
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Youth marketing and the 90-10 rule http://ow.ly/149aq
RT @grahamdbrown: Youth marketing and the 90-10 rule http://ow.ly/149aq
right on, i think this applies to my podcast for sure. why try to convert the people who aren’t into it when we could be engaging with people who actually care?
mobileYouth: The 90 – 10 Rule /by @grahamdbrown http://bit.ly/9CaNnc #marketing
This can be applied to other segments as well. >> The 90 – 10 Rule – http://j.mp/cOxcDF
RT @hemantmmehta: Excellent post – The 90 – 10 Rule http://is.gd/7K8QG
Secrets of Apple & RIM success: 7% market share = 62% market profits. Learn about Beachheads and 90-10 rule http://ow.ly/1cFEq