The core responsibility for most exectives is to generate sales to make the company profitable. Whether you are selling a service or a product, there are basically 4 ways for your company to increase revenue:
- Sell to more people
- Incease the average order size
- Increase order frequency
- Raise your prices
Of those, raising prices is the least popular with customers and can risk losing sales. The others can all be achieved with an effective Inbound Marketing
Sell to More People
Tell the world what you do and you'll sell more! That makes sense doesn't it? The more people who know about your product or service and the more often they hear about it the more you are likely to sell.
By creating content your ideal prospect will be interested in and sharing it through you blog, Facebook, Twitter, LinkedIn, industry forums, press releases and other online platforms, you will dramatically increase your brands exposure and generate leads. The leads can then be nurtured into becoming life long customers.
Increase the Average Order Size
Once a you have a customer you can track their buying behavior. What types of products do they normally purchase? How large is their order? With this information you can find ways to cross sell customers on other products or accessories they may need that relate to that initial purchase.
Bundling products together is also a great way to expand the average order size. People love a great value - give it to them.
Increase Order Frequency
One of the greatest benefits of Inbound Marketing is how cost effective it is to stay in touch with your customers. By continually reaching out to them with other product offers, promotions, and valuable content, the frequency with which they order also increases.
Make sure you are making the most of your Inbound Marketing. Contact Think Creative for a Free Online Marketing Evaluation.
We'll take a look at what is working for you and where you may be losing revenue.