44 Best strategies on how to Increase Your Business Revenue Potential 2021
To Increase Business Revenue is crucial for most businesses. But there is so much buzz about increasing business revenue, it’s often hard to tell what will work and what won’t.
We have put together our best 44 strategies on how to Increase Your Business Revenue Potential 2021 that you can start implementing today.
1.) Improve your website’s usability with user experience design .
If you hate going online shopping because of issues like poor site navigation, slow content loading or difficulty finding options, then imagine how your customers feel. 91% of online shoppers would abandon a purchase if they had trouble finding something during their initial search.
If you want people to pay more money for your products or services , make sure your not scaring them away!
2.) Improve your sales process and become a better closer .
The problem with most “how to increase business revenue” strategies is they rely on hoping more customers will come in the door. But if you focus on improving your sales process and closing deals faster, you can make sure there’s money attached to every new visit!
3.) Communicate your value proposition well .
Your value proposition determines how likely customers are to buy from you. For B2B brands, it also helps convince influencers and stakeholders that your brand deserves attention. If nobody knows why they should be buying from you over another company, then increasing revenue will be incredibly difficult.
4.) Use stories and data whenever possible .
Sharing numbers and dry facts doesn’t win many points with the average consumer. But if you can weave a story around them, data can go from something boring to being the main focus!
5.) Increase your conversion rate .
One of the easiest ways to increase revenue is by increasing conversions – that is, having more visitors take a desired action on your site. Start by improving your landing page conversion rate , and then work on everything else from there.
6.) Look for trends in your sales data .
If certain products or services are performing better than others, make sure you know why! Use tools like Google Analytics to find out where people are clicking and what they’re doing when they get to different pages. By noticing trends early, you may be able to look for new sources of revenue well before your competition even knows about them.
7.) Embrace the psychology of selling .
We’ve covered a lot of ways to improve your sales skills in this article, but that’s because there’s more to closing a sale than just “getting it done.” If you want to increase business revenue , then you need to embrace the psychology of selling – and, better yet, get inside the head of each customer!
8.) Use social proof to boost trust and credibility .
Consumers trust people like themselves. If they see other people like them buying from you or praising your brand (or both!), then they’re likely to do the same thing. This is why testimonials and case studies can be so effective; we don’t question them because we assume they’re honest.
9.) Use sales scripts to increase sales .
A sales script is a tool for communicating with customers and guiding them through the entire sales process. Salespeople often write their own, but you can also find great scripts online – as long as you know where to look!
10.) Get the right training .
You don’t have to learn everything on your own; just do some research and you’ll be able to attend workshops or even hire a coach who specializes in increasing revenue and closing deals. Most of all, never stop searching for new ways to improve yourself and your business!
11.) Focus on customer retention .
Customer service is critical if you want loyal customers, but most companies forget that it’s easier (and cheaper) to keep customers than it is to find new ones. The more you focus on improving retention , the less time and money you’ll have to spend trying to increase business revenue .
12.) Increase your word-of-mouth referrals .
Word-of-mouth is powerful, especially when combined with social proof . But, don’t just wait for people to recommend your products – ask for them! Create a simple process that encourages referral marketing so that people will talk about you even if they don’t feel comfortable recommending you directly.
13.) Make it easy for visitors to become customers .
Do everything possible to make sure each customer can get in, buy what they want, and leave quickly without any major issues or hassles. Remember: even a small increase in revenue can make a big difference, and conversion rate optimization is one of the best ways to achieve that.
14.) Increase your prices .
This sounds counter-intuitive, but hear me out! If you truly want to maximize revenue, then you need to think about what people are willing to pay for your product or service. By increasing prices , even by just a little bit, you’ll be able to bring home bigger profits without driving away customers.
15.) Go niche in order to specialize .
One of the easiest ways to increase business revenue is using specialization when marketing via social media channels like Facebook. The more specific you are when speaking with potential leads, the better chance you have at closing sales – provided everything else is in place, of course!
16.) Create high-quality content .
When you want to attract new customers through blogging and other online marketing tactics, you need a way to stand out from the rest of the crowd. The best way to do that is by focusing on providing value with your content – whether it’s videos, articles or infographics. In fact, research shows that people are far less likely to buy from a business if their site has typos and other errors in its design.
17.) Increase sales with the webinar model .
Used by businesses for thousands of years , webinars have been making a big comeback recently thanks to software like GoToWebinar and WebEx. Combined with Facebook Ads and YouTube video ads , webinars can be incredibly effective tools for increasing business revenue .
18.) Create Facebook contests .
Contests are one of the most powerful, but least used, marketing tactics on Facebook. You don’t have to give away phones or cash either – just start an engaging conversation about your brand and you’ll see increased post engagement in no time!
19.) Host contests on Twitter .
It’s true that contests tend to work best on Facebook; after all, more than 1 billion people use the social network every month. But, if you want to increase business revenue with Twitter (which is still growing), then try out some new contest ideas like the tweet-to-win method to increase revenue.
20.) Utilize paid ads .
Ads are everywhere these days, making it the perfect time to start testing paid marketing tactics. Without a doubt, paid ads are one of the easiest ways to increase business revenue , especially when you know what types of strategies work best for your business.
21.) Find your voice .
Businesses that have found their “voice” tend to see big increases in both traffic and sales. So, if you want an edge over your competitors, then start by finding out exactly what makes you different from every other company out there!
22.) Set up an affiliate program .
If you have loyal followers who are quick to sing your praises (and share what they like with others), then setting up an affiliate marketing program should be at the top of your list for increasing business revenue . An affiliate program is also a great way to generate more leads and, if well-executed, can be an amazing source of long-term increase revenue.
23.) Pitch to the media .
I know this sounds like a daunting task, but it’s actually one of the easiest ways for businesses to increase business revenue . All you need to do is get your name out there in front of an audience that matters – which can be much easier than you think! Just pick up the phone and give your local newspapers and TV stations a call… they might even come to you, if you make it easy enough.
24.) Give back with content marketing .
The best marketers know that “giving” isn’t just about receiving; in fact, sharing what you know via content marketing can be incredibly beneficial for your business. Even if you’re not 100% sure what to talk about, just remember that companies that give back tend to see big boosts in traffic and sales .
25.) Think like a consumer .
People buy from people – even if those people happen to be businesses (and it doesn’t matter whether we’re talking about brick-and-mortar stores or Internet retailers). The point is, think like a consumer and build your strategy around the questions they ask: How fast will I get this? What other products can I buy with it? Is there any way I can save money? When you answer these types of questions via social media channels, you’ll easily create more leads and increase business revenue .
26.) Introduce a spouse program .
If you’re wondering how to increase business revenue , then consider looking at your current or upcoming product line. There’s a good chance that you can introduce some type of spouse (or partner) program for people who purchase more than one of your products. For instance, maybe they get an extra 25% off their second purchase; it could be as simple as that to increase revenue!
27.) Create a YouTube channel .
One of the main reasons why businesses fail is because they don’t think about what consumers want and need (and when I say “consumers,” I’m talking about both old and new customers). The truth is, those who provide valuable information – via YouTube video marketing – tend to attract more customers and increase business revenue .
28.) Don’t ignore Reddit .
This is one of the best tips on how to increase business revenue in a hurry because, simply put, it’s not just another social media platform. Users on Reddit are highly engaged (and can be influential), so you should think of them as more than just visitors; they’re potential customers!
29.) Hold webinars .
Webinars might be tougher for smaller businesses since they typically require an investment of both time and money. However, if you can pull it off, then webinars are often an effective way of generating leads , which is exactly what every company needs in order to stay afloat.
30.) Join associations .
‘m sure most marketers already know about the value of joining associations, but it’s still worth mentioning. Associations can help your business in a number of ways, from providing feedback to increasing brand awareness. If you don’t know where to start when looking for an association, LinkedIn is a great place to look .
31.) Solicit customer reviews .
In addition to other tactics on how to increase your business revenue potential , make sure that you turn every satisfied customer into a raving fan by soliciting online reviews from them! Even one review is enough to help bring people back to your site and convince others that they should consider buying from you as well.
32.) Avoid thinking linearly .
For example, if you have a brick-and-mortar store front or even an online store, consider placing some furniture or other products in the back of the room. It might seem like a waste at first glance, but shoppers will be more likely to explore if they can touch and feel your product (and that often translates into making a purchase).
33.) Keep your branding consistent .
This one is fairly simple: Don’t change your logo or any major element(s) of your business on a whim. Even minor changes can cause confusion among consumers, so focus on sticking with what works for you instead of trying something new – even if it seems like an improvement!
34.) Get on YouTube .
With Google shifting its focus toward video , this might be one of the best tips on to increase business revenue potential in a hurry. Even if you only have a few videos, this platform can help you attract more visitors and ultimately generate more leads .
35.) Develop a content calendar .
If you’re wondering how to increase business revenue potential , then a content calendar is a must-have! While it might seem simple on the surface, creating one will not only help to ensure your marketing campaigns are consistent, but it’ll also come in handy for tracking trends.
36.) Offer promotions every day of the week .
This is especially true if you run an ecommerce site. In other words, don’t let your consumers forget about you or that they can buy from you at any time of the year. Run promotion after promotion because chances are good that someone who isn’t aware of your existence might just come across a deal they can’t resist.
37.) Use Instagram .
If you haven’t jumped on the photo-sharing train, now is definitely the time to do so – especially if you own a brick-and-mortar business. In fact, with more and more people using smartphones , it’s best to think about incorporating social media into your marketing strategy ASAP.
38.) Don’t rely too heavily on paid ads .
While paid advertising can be useful when properly implemented, this tactic alone isn’t enough to generate leads or increase sales by any real margin. Instead of spending most of your money on PPC ads, try earning organic traffic through SEO instead!
39 Offer freebie samples .
Not sure how to increase business revenue potential ? Try giving out free samples of your products. It’s a riskier move, but the end result could be a flood of new customers who will become repeat buyers once they realize what you offer!
40.) Get social .
While this isn’t exactly a unique tip, it is important enough to merit being mentioned here. In other words, do all you can to promote your brand on as many social media sites as possible. Even if you rank high on just one or two platforms, it’ll almost always lead to an increase in online traffic and sales .
41.) Target people with authority .
If you’re wondering how to increase business revenue potential , try targeting key influencers rather than going after a general audience. For example, if you run an online store that specializes in home decor, try contacting bloggers and other social media users who frequently share pictures of their office or living room. Assuming your products match with their sense of style, they might just promote you to their followers!
42.) Set yourself apart from the competition .
Perhaps one of the best ways on how to increase business revenue potential is to go beyond what’s expected. If everyone else in your industry does X and Y, then think about trying something completely different. Even slight changes can result in drastically different outcomes – such as more sales – so don’t be afraid to get creative when it comes time to brainstorm ideas!
43.) Optimize for local searches .
According to statistics , around 73 percent of mobile searchers are looking for local businesses, which means you should commit some time to enhancing your online presence on the SERPs. Make sure you have your NAP info consistent across all platforms and that it’s highly visible on your own site.
44.) Personalize .
Do everything in your power to understand who each and every one of your customers is as an individual. What separates them from other shoppers? Why did they choose to purchase from you over a competitor? Once you know these answers, do what you can to build a more personal relationship with them – even if it’s only after the fact!