From Quick Cash to Steady Profits: 6 Revenue-Boosting Tips
Sometimes you just need a quick win.
A cash infusion in your business is a great way to build confidence, get the funds you need to start a new project, or just pay the bills.
But let’s sweeten this deal. What if the time you spend on quick cash infusions could also lead to long-term increases in your revenue?
Let’s make that happen.
Stack your Offers
Quick Win: Create limited-time offer bundles and bonuses to increase desire and sales.
Put existing products & services together and offer them at a discounted price.
Add limited time bonuses to your offers (e.g. a future discount, a tool or workbook, a free add-on product or service).
Add an upsell option to every sales page, email, and call.
Sustainable Revenue: Calculate aligned ROI for long-term increases in profit margins.
Do the math – how much money and time does it take to creates and support your offers? Know the net profit from each offer with the current price and volume sold.
Connect your offers to your goals. Do they support the business and life you want to create?
To help you find the alignment, it’s critical to have at least one offer that is profitable enough to sustain you and your business while you experiment and explore other opportunities to grow your business.
Review and adjust your offers at least twice a year to stay tuned in to your customers, market conditions, and your vision.
Check your Inbox
Quick Win: There is cash sitting in your inbox.
Do a thorough audit of your email inbox and social media DMs.
Respond to potential customers with questions, set up discovery calls, schedule appointments, or start processing those sales that are already yours.
Sustainable Revenue: Create a schedule that supports reading all emails, every morning.
If this isn’t feasible with your schedule – if you have too much to do or if you have so many emails that it takes more than 30 minutes each day, it’s time to hire a part-time virtual assistant to take on reading and responding to routine emails and basic questions (and maybe some other tasks that you don’t need to be doing anymore!).
Follow-up on Invoices
Quick Win: Money that should be yours is stuck in unpaid invoices.
Review all outstanding invoices and email or call the person/company to remind them of their balance – and how they can pay you!
If you’re having trouble getting a hold of the customer, get creative. DM them on social media, find the email address of a different person who works there, or call a general phone number and ask to be transferred from an internal line.
Sustainable Revenue: Implement an invoicing system and process to reduce turn-around-time and hurdles to collection.
Find a CRM that works for your business needs and implement it asap. It’s always worth It to have a CRM – it will save you so much time and create opportunities for returns on returns for your business.
Consider invoicing systems that integrate with your CRM to make it all seamless.
Create processes that support you sending, collecting, and follow-up on invoices, including gathering primary and back-up contact information.
Close the Sales
Quick Win: Follow-up with all prospects, like, right now.
Call, email, show up at their door. Whatever it takes to reach back out to a prospect that showed interest but hasn’t signed yet.
Provide 1:1 support to lower level sales team members to help them close.
Sustainable Revenue: Train your sales team on how to consistently pitch, follow-up, and close sales with prospects.
Set clear and measurable expectations for number and type of outreach each week.
Provide frequent opportunities for the sales team to practice each type of call.
Create call and email templates to help streamline – and make more professional – all communication with prospects.
Launch a Blitz Campaign
Quick Win: Grow your buying audience with an intensive marketing blitz campaign.
2x the amount of usual content you create and post on multiple channels every day for one week – multiple social media platforms, email, website blog, lead magnets.
Pay for ads on your primary social media platforms for that one week.
Sustainable Revenue: Strategically create increased awareness around your products and services throughout the year.
Create a calendar that leverages blitz campaigns at regular intervals to make your audience aware of new offers or remind them of ongoing offers.
Use your calendar to guide the content you create in between campaigns to add value and build your community, so they are ready to buy when you start campaigning.
Fix your Prices
Quick Win: Offer a discount on your most popular offer(s) - as long as it’s profitable.
Combine with your marketing blitz campaign for optimal impact.
Reach out to previous customers to offer special discounts for them to purchase new offers or purchase again.
Make potential customers aware of prices being raised soon (see below).
Sustainable Revenue: Once your sale is over, raise your prices and strategically schedule sales through the year.
Align your blitz campaign calendar with discount periods to create interest during times of year that relate to your offers (e.g. seasonal or holidays), or in between launches.
Raise your prices now, and plan to raise them annually in accordance with market value and your unique value proposition.
