Revenue growth is the go-to measurement for businesses of all types and sizes. A focus on margin and revenue growth will significantly lift profitability.
The following is a quick checklist of proven steps to lift and assist revenue and margin growth.
1. CROSS-SELL.
Cross-selling is offering an additional product or service to an existing customer – having bought the dining setting, would you like a deal on the matching sofas?
Selling two products simultaneously – even if one unit for a lower price – increases overall revenue and profitability.
2. BUNDLING
This technique differentiates your business from competitors. The best is McDonalds Fast Food – they pioneered the meal deal bundle decades ago. It is the core of their business model. What products and services can you bundle to drive more growth?
3. FREE SHIPPING | DELIVERY THRESHOLD.
Supply chain logistics, including the last leg – delivery to the customer – is more complex and costly than ever. Reviewing your free delivery threshold might save costs and drive up profitability.
4. GIFT WITH PURCHASE THRESHOLD.
A gift with purchase is a powerful, if not the most significant, motivator; any business can offer. The right product, gift and price points have enormous revenue and profit growth potential. Time and again across many industries – significant market share growth is waiting to be gained – it works continuously. A note of caution – this is not a quick fix – it needs planning and research.
5. LIMITED TIME OFFERS.
Fear of missing out has always been a strong purchase motivator – you are looking for an – unbelievable – offer for the buyer – that’s profitable for the business.
6. STRATEGIC PRODUCT PLACEMENT
In physical retail – there are always crucial spaces that perform best – end of aisles – turns in aisles – better lit. In digital – it’s about the photography, adjacent products, and product description.
7. LANDING PAGES
Give your potential buyers the red carpet treatment – help lead them through a carefully considered customer journey. Explain why, how, when, and what makes it easier for your ideal buyers to – buy. Landing pages are crucial – more landing pages speaking to each buyer segment are crucial to more growth.
8. ADVERTISING THAT DIFFERENTIATES
No business should look, sound and feel similar to its competitors. A CEO under pressure to lift revenue – moved their look and feel to that of their major competitor. Research showed this was disastrous – it confused the core customer who went to their major competitor in droves – accelerating their decline.
9. SOCIAL PROOF + SOCIAL SELLING
Social Influencing and Selling (#socialselling) – this is where your ideal potential buyers walk towards your business rather than your business is chasing them.
Social selling – selling on social media – delivers significant sales opportunities. There is a methodology to social selling – understand and implement training to take advantage of the proven steps – then reap the rewards.
Social proof – links to your social media posts across multiple platforms – builds trust. Your star rating adds even more trust. Include them everywhere that counts.
10. COUNT DOWN TIMERS.
Fear of missing out – this is often overused and can come across as fake. If there is a genuine shortage of products, services and time – a countdown timer can be a powerful reminder – buy now.
11. VIP EARLY ACCESS.
To work well, this has to be a credible-trusted offer – a new range – a genuine offer is required – there also has to be significant hype built with PR and marketing – and selected (VIPs) are given early access – creating the …fear of missing out.
This checklist might trigger new opportunities to lift growth and profitability in the lead-up to Christmas, Black Friday, and Boxing Day.
It is time to ACCELERATE communities of PASSIONATE NEW BUYERS by fuelling and facilitating their insatiable hunger for authentic content and conversations – so your business captures enormous attention and engagement – influence and sell more.
Now the most valuable asset in the world today is attention.
The FASTEST growing businesses have one thing in common they get more attention on multiple social media platforms – every day.
- More attention first
- Next More engagement
- Influence and Sell More.
Our business reflects the human truth: we are a social and human-first digital agency built on strategic narrative and pitch across platforms.
We accelerate powerful buyer insights gained through micro-content that ultimately influences actual business results.
Your ideal buyer truth is our lifeblood – we are loyal to it, defend it and accelerate it.
There is no longer a single, generic message served to a mass audience – now drive buyer attention and revenue growth by speaking specifically and differently based on who they are, by listening and understanding more.
If you have read this far, thank you for your attention.
There are over 150 free previous newsletters – like this one at accelerateyourbusiness.today – look for the tab – How to Influence and Sell More.
It means a lot. I hope this helped you even a little bit in better making sense of this topic. If so, please, share it with a friend who might also benefit from it.
Thanks for reading,
David
