Week 8: The Twenty Percent

The Twenty Percent

Pareto Principle: 20% of your customers will generate 80% of your sales 

Targeting that 20%: In my past assignment done of interviewing an entrepreneur and asking him questions about his restaurant Snappers, I decided to contact him once again for this assignment as he was an enjoyable entrepreneur to work with. I will find out who his 20% is, who he thinks his 20% is, and whether he is right or not (customer feedback?).

I was unable to obtain recordings of the entrepreneur and costumers because this restaurant is in Palm Harbor, Florida and I am still in Gainesville at the time of this assignment. However, I called the owner from Snappers and phone interviewed him. As for the customers, I had one of my friends from home interview three customers and send me video recordings of them. This is what I got:

1) Find a business owner and talk to them about their customers. 

Me: "At Snappers, who would you say is your main market? Who are your target customers?"

Paul: "Well I'll definitely have to say the locals. Snappers is surrounded by neighborhoods and as a small mom and pops place, the locals love it here. Everyone knows each other, I take time to learn about my customers...the hospitality here is just so intimate."

M: "Would you say there are any unmet needs of your customers?"

P: "I know Snappers is not perfect, but most of our customers leave very satisfied...I hope that answers your question."

M: "What are your customer's demographics? What would you say an average customer looks like / tend to be like?"

P: "Well, as a bar also we tend to attract a crowd a bit more older. We also have great deals and are near many neighborhoods with an older population. We get a lot of families here with kids and a lot of older folks."

M: "What kind of media do your customers use?"

P: "Everyone has their cellphone and I would say FaceBook is big too."

2) Next, go and talk to 3 'target customers' -- using the demographics/psychographics the entrepreneur described.

Customer #1: Man with three kids and a wife.

Me: "Is this your first time eating at Snappers?"

Customer: "Nope! My family and I come here all the time."

Me: "As a regular customer here, would you say you have any unmet needs?"

Customer: "Hmm, I'll have to think...oh wait, I'd love there to be more outside seating where people aren't smoking so my kids can sit there too. That's the only thing."

Me: "Great thanks for your time."

Customer #2: Older couple in their 60s.

Me: "Is this your first time eating at Snappers?"

Customer: "No."

Me: "As a regular customer here, would you say you have any unmet needs?"

Customer: "My soup isn't here yet. Hahaha no service here is great we have been coming here for 10 years now, Paul is great."

Me: "Aw good thank you guys for your time."

Customer #3: Father and son in his teens.

Me: "Is this your first time eating at Snappers?"

Customer: "No, we live in the neighborhood right behind here. Come here quite often."

Me: "As a regular customer here, would you say you have any unmet needs?"

Customer: "Nope."

Me: "Awesome, thanks for your time."

3) Reflect.

Based off of the interviews from the owner and the customers, it seems to me that they're truly aren't any major problems at Snappers. The costumers seemed to love Snappers and were all locals for the most part. I'm sure there are things that can be improved, but overall Snappers seems to be doing just great! It's been opened for 25 years now too. Paul must be doing something right.