The 80/20 Rule – The Pareto Principle and The Power of Reaching Mavens
Have you ever met someone who seemingly knows everything? I’m not talking about the showoff types who present the facade knowing more than you, when in reality they have no clue what they’re talking about. I’m talking about people who are truly sophisticated and well-rounded, genuinely versed in almost every topic. The reason they know so much is attributed to the fact that they regularly research and read about things that naturally interest them. They are genuinely curious about the finer details of everything they buy and experience, and like to share their knowledge and opinions on whatever they know.
Well if you have met someone like I’ve described, you’ve encountered a Maven. “Maven” is a word derived from the Hebrew word (מבֿין), meaning “one who understands,” and refers to people who are always “in the know.” They are the ones who know when new technology comes out, or what happens to be the latest trend.
Advertising and reaching such an influential and trendsetting group could be extremely beneficial to an advertiser because, not only do Mavens use advertising to gather information for themselves, but because if they know and like your brand, they are the ones that are going to spread the word about you. They will do so because they are considered experts amongst their friends and family. They are looked at as a “human Google search.” Not everyone is as computer savvy or has the luxury to search online for hours upon hours. Peers will often come to Mavens for advice before making a purchase, and they will trust their recommendations because they know that Mavens ALWAYS have the most current information.
Brands must appeal to these influential consumers because as Malcolm Gladwell wrote in his book “The Tipping Point: How Little Things Can Make a Big Difference,” reaching this 20% of people will do 80% of the work in your advertising efforts.
My stepfather is a Maven. A retired computer engineer, and an artist- technology and innovation are an extension of his personality. He has several computers, expensive cameras and printers, and knows anything and everything there is to know about them. Family friends, relatives, and even I, often come to him for advice before purchasing anything from the above and other categories. In turn, he has a HUGE influence on our purchasing decision making process.
So what does this mean for brands? Reaching a Maven means reaching a brand ambassador, if they like you, they will advocate for you.
The chart below demonstrated that Adspace shoppers are Mavens!