Is your business "revenue insecure"? Do you have months when sales drop alarmingly?
If your business is seasonal, that might be acceptable.
If your business is not seasonal, you have a revenue problem. But don't fret, because there are solutions to low revenue issues!
Here are 5 simple yet proven ways to boost your small business revenue.
1. Sell MORE to your current clients (or customers, patients, members, whatevs).
How? Give them more to buy! Boost the transaction size with upsells, bundles or packages, monthly promotions or special offers.
2. Sell MORE OFTEN to your current clients.
How? There are many ways to increase transaction frequency, and your clients may thank you for it. Because very often, your best clients simply forget to buy. Consider recurring billing so your clients don't miss needed products or services. Or look at subscriptions, memberships, or extended payment plans make big purchases affordable.
3. RAISE your prices.
How? If it's been a while since your prices rose, your clients will understand. If you've been uncharging because fear your current clients will bail if you raise prices, don't fret. Just "grandfather" them in to their "legacy" rate, and increase your prices for new clients.
4. Sell to MORE CLIENTS.
How? If the problem is that you don't have enough current clients to meet your revenue goals, there's an easy fix. Boost your lead generation, special introductory offers, referral systems, or advertising programs to get more clients.
5. Add NEW REVENUE streams.
How? It's never been easier to do this! Consider affiliate programs, licensing, commissions (when you sell others' stuff to your clients). advertising, or sponsorships. Of course, you can always add new programs, products or services.
Any one of these strategies can have a profoundly positive impact on your profitability. Bundle together for maximum impact, and say goodbye to revenue shortfalls forever!
5 Proven Ways to Boost Revenue © 2023 Veronika Noize. All rights reserved.
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