Have you seen this type of headline before? I’m sure you have! Double, Triple, even 10X your business in so many days, weeks, months…
We have all seen these claims before, and think, wow what if.. Let me tell you, many if not most small businesses would not survive such an increase in day to day business.
Most of us dream about growing and have our business get to a new a whole new level, but rarely think about the consequences of what it would take to handle such growth. Staffing, product supply or services fulfillment would become a massive undertaking, and then the current customer base could suffer and things could spiral right out of control very quickly.
What if I said to you, how about we bump things up over the next year to add 20% to the bottom line. Would that excite you? It should!! 20% is manageable and is a sizable increase in revenue. It’s likely that 30% is very manageable in today’s current economic climate. The only thing I would say to you is, “are you prepared for the increase?” Do you have the systems, human resources and budget in place to make that happen?
Do you have the desire to make that happen? Desire and willingness is a huge factor in making the decision to step out of your comfort zone and grow your business revenues. It’s true! Many, if again not most, business owners become quite comfortable with the current day to day business and income levels. So do you “really” want to grow? Are you ready for the work?
In 2019, a 20% increase in revenues can be had quite easily with a deep dive into the current marketing assets within the company and taking an integrated approach to the current marketing program. It is quite possible that no new money needs to be spent on marketing, just some new direction, and thinking.
Here is a quick list of a few Marketing Assets that are currently in a company that is very often overlooked.
Relationships with other Businesses.
- Do you have other businesses that offer complementary products and services that you are currently doing business with? If you do are you leveraging them to help you sell your product to their customers and vice versa.
- At least get referrals or present coupons or discounts for them to give to their customers for you and you can do the same.
Back-end Products or services.
- Create or introduce back-end services or products that you can introduce to your customer at the time of a sale, something that compliments the current product or service they are buying today.
- Create a membership program, maybe provide a discount? VIP membership for regular buying customers who spend regularly at certain amounts, Rewards programs are overused, stick to “membership” or “VIP” Club programs.
Poor Advertising results.
- Do you test ads and test results? There are a number of ways to do testing and determine if the ads are effective. What isn’t working can be reworked or money saved. What is working can be stepped up. Eliminate Spray and Pray Advertising.
Unique Products, Service, or Delivery.
- Look at any uniqueness in your products, your services or how you deliver it to find a hidden asset, then market that.
- Can you sell to your old or lost customers? Can you resurrect a customer who has not bought from you in a while, have you a good up to date contact list of past customers so you can remarket?.
These are but a few of the 15 or so Marketing Assets that any business has, that can be used to find 20% increase in new revenue for 2019.
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