How to Increase Business Revenue Before Year End
It’s 4th quarter, your last chance to stimulate profits for your business before year end... what are you going to do?
Small businesses all around the world find themselves asking this exact question. The good news is that we’ve done the research for you. All you need to do is make a choice.
Before the end of the year you have (2) choices:
Sell to new customers
Up-sell to your existing customers
Selling to new customers
Many retailers depend on holiday sales to meet their projected year end revenue. Customers are motivated to spend during the holiday season. If you plan to participate expect to create urgency in the form of sales, limited time promotions, and gift packages. Business owners in the service industry can also benefit from holiday promotions by offering services in the form of memberships or bundle deals with bonus offers.
During Flourish Media Conference, expert business strategists took attendees through activities to show them how to build sales campaigns. In the presentation attendees were asked to organize their products and services into 2 categories. Items in high demand vs Items that didn’t sell as well. Attendees learned how to bundle items from both categories to clear out inventory while also providing added value.
“The great thing about bundling services is that new customers get a sample of different offers at one time and I don’t mind offering it at a lower price point because now I know they will come back for more.” - FMC Attendee
Studies suggest that customers who spend $1 with your brand are more likely to buy again. By bundling a holiday offer, you might be sitting on the perfect prospecting tool for your brand.
What items can you bundle this holiday season? (Tell us at @flourishmediaco for a special offer on Flourish Media Conference Tickets)
Up-sell to your existing customers
Your money is in your list. Take time to review your client list because they made need additional support that you haven’t offered. If you’re a graphic designer, there might be SEO upgrades that you can add to your customer’s website. If you’re an accountant offer services that will make holiday payroll run more smoothly or tax filing run more effectively. Small businesses that sell products might consider running a customer appreciation sale where repeat purchases benefit from an extra percentage off or free shipping for orders over a certain amount.
“I hate to say it but I forgot all about my past customers but now it seems so obvious that if they purchased something once, they might want to buy something again.” - FMC attendee.
There are several other steps you can take to increase revenue before the end of the year. If you’d like to run ideas with us, reach out and schedule a discovery call.
Feb 21-22, 2020 is the Flourish Media Conference, Where Women Do Business. Expert guest speakers plan to gather in Miami to share ideas to help your business flourish. This two-day conference is jammed packed with expert guest, business building activities, and ends with a Shark Tank style pitch for up to $15 million in business funding.
Behind the Leaf has a limited number of deep discount #Tribe tickets available for purchase. No code required. First to come, first to flourish.
