Every now and then most business owners find themselves in a position where they need to generate some revenue quickly. Do you?
Achieving it is easier than you think! In this week’s blog I’m going to give you eight simple steps to generate more revenue…
Here’s my top tips for generating revenue quickly…
- Package up some of your products/services so instead of buying one thing and then you hoping they’ll buy something else they will make the bigger purchase. In fact, people prefer to buy packages so you should always do this!
- Change your payment plan so you get money up front. This can be either a 50% deposit or the full payment; it’s totally up to you.
- If your product/service is something that’s quite chunky in terms of time and/or money then split it down into smaller chunks. This will make it easier to sell and bring the money in quicker.
- Create “something” that has a relatively low price point and then sell loads of it. For instance this could be a workshop, an ebook, a small product or service (eg a health check, review etc). Just think about your market and the easiest “thing” they would value that you could create.
- Tap into your contacts. For some reason our brains tell us that we need to find “fresh” people to sell to when actually the exact opposite is much easier. The people we already know are far more likely to buy from us than total newbies. So you need to reach out to everyone you know with your marketing message so they know you provide XYZ and why they need XYZ. Just think, you already know all the people you need to in order to boost your sales. If you need 10 new clients then I bet they already exist in your contacts.Even if it’s 100 new clients I still bet you already have them in your circle of influence. Just think how many people you are connected to on LinkedIn, how many people you know from networking, how many Facebook friends you have, all the other members of all the Facebook groups you are in; you do have loads of contacts. The challenge is to convey what you do in a compelling way so they realise they need it.
- Make it easy for them to say “yes”. Remove/ease all their barriers to making the buying decision. For instance
- If people tend to be concerned about whether “it’ll work” then give them a money back guarantee. That’s not as scary as it sounds as I’m assuming you are good at what you do so the chances of anyone asking for their money back is very slim.
- If people tend to worry about how much of their time it’ll consume then be explicitly clear about how little it will take up. Give them a plan for what you’ll need from them and when you’ll need it.
- Let people pay by credit card. There’s so many ways of doing this now that this shouldn’t be a barrier.
- Revamp your marketing and get incredibly clear on the transformation you offer. Don’t be woolly; be bold! If your product/service can increase their sales then say so. If your product/service can reduce the time it takes to do XYZ then say so. Be as tangible as possible.
- Your success relies upon your ability to let your target audience know you exist. Go LOUD! The more noise you make the more sales you’ll get. Remember to target your message to the right audience in the right place. For instance you won’t find tropical fish in Loch Ness, even with the right bait so put a bit of thinking time into where you are going to shout.
It really is pretty straightforward to ramp up your revenue in a very short space of time. Your biggest barrier will be yourself.
Don’t let your negative self-talk convince you not to take action.