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There are only 4 ways to increase your business revenue: A thread idea from @TyGrows
1. Increase the number of customers you have
2. Increase the average size of each transaction by selling more
3. Increase the frequency of transactions per customer
4. Raise your prices
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1. Increase the number of customers you have
2. Increase the average size of each transaction by selling more
3. Increase the frequency of transactions per customer
4. Raise your prices
Read
Increase the number of customers you have
-Social media marketing; put your product or service out there
-Tag your customer and encourage reviews
-Ads (social media), print or digital marketing
-Cold calling
-Email marketing (Cold or warm)
-Bottom line: Ring the cash register
-Social media marketing; put your product or service out there
-Tag your customer and encourage reviews
-Ads (social media), print or digital marketing
-Cold calling
-Email marketing (Cold or warm)
-Bottom line: Ring the cash register
Increase the average size of each transaction by selling more
-Up sell and cross sell
-Offer bulk purchases
-Add complimentary products to your offering
-Upsell on quantity, 1 for $20 or 2 for $35
-Marketing tactics: Not 2 items for $50, it's one for $50 and second free
-Up sell and cross sell
-Offer bulk purchases
-Add complimentary products to your offering
-Upsell on quantity, 1 for $20 or 2 for $35
-Marketing tactics: Not 2 items for $50, it's one for $50 and second free
Increase the frequency of transactions per customer
-Reactivation campaign
-Remember, your list of prospective customers is a valuable asset, but your list of past customers is just as valuable.
-Email blast your customers with new products, coupon codes
-Subscription service?
-Reactivation campaign
-Remember, your list of prospective customers is a valuable asset, but your list of past customers is just as valuable.
-Email blast your customers with new products, coupon codes
-Subscription service?
-Reward programs for frequent purchases
-Run sales promos
Raise your prices
-Study your competition
-Make a good informed decision
-Try it on a few of your items and check feedback
-Ask your customers/suppliers
-Run sales promos
Raise your prices
-Study your competition
-Make a good informed decision
-Try it on a few of your items and check feedback
-Ask your customers/suppliers
