Revenue Boost 1 Ups
We’ve all experienced the end-of-the-month grind before, where we rush/scramble/sprint towards bringing as much money as possible into the business before our bills are due by the end or first of the month.
I’ve done many of these sprints in the past and have learned a few boost tactics to help accelerate the sales process along the way. I love these revenue boost tactics for not only quick-turnaround sales but to sprinkle it into my sales plan throughout the year.
Personally Email You Past Customers
This is a simple one, but a lot of entrepreneurs are incredibly uncomfortable about doing this. Generate a list of customers who bought your products last year, or a list of clients you loved working with. Write a simple, genuine email checking in and letting them know that you appreciate them as a customer.
Businesses get so caught up in marketing emails and campaigns and forget that sometimes, a personalized, genuine email to a past customer is the best sales email there is.
If a past customer had a positive experience with your business, they will most likely refer your business to someone else in need or reengage with you for a project they’re working on. People like to be helpful, and sometimes they just need to remember that your business exists in order to make that connection.
Do not send this email in a fancy newsletter template or make it look like it came out of a mass email campaign.
Personalize it, and make it relevant to the customer you’re speaking to. They’ll notice, and appreciate it.
Last year, I sent out a digital, Ascent Strategy-branded card to a list of my favorite clients from the past year wishing them a fruitful 2019 and thanking them for giving me the opportunity to work with them on their business.
35% of the clients I emailed reengaged me for new projects or referred me to a new client, bringing in over $7K in new business. I would’ve lost $7K in revenue this year if I didn’t make that simple move.
If I’m looking to generate a quick revenue boost, I always leverage the benefit of add-on products. For example, people who engage me to write a business plan usually also need a pitch deck.
If someone is looking to get a business plan created, I casually mention a deal to add a designed pitch deck into their package that’s about 60% off from what they’d pay if they started that project from scratch with someone else.
Add-ons are a powerful card to play in your deck of sales tactics. Think of your products in pairs — if you have a pretty substantial suite of products, look for pairings that will be beneficial for your customer’s experience and needs.
If you are uncomfortable about selling people more things because you’re grateful that they even bought one product, remember that your add-on recommendation is usually coming from a place of wanting to be helpful. The majority of the time, customers are grateful that you’re looking out for them.
Lifetime Membership Sales
A colleague of mine used this on their company, so I can’t take credit for this gem. Here’s what they did — in order to generate a substantial amount of revenue in a short period of time, they ran a limited time, rare, lifetime membership sale for their SaaS product.
They assumed that only the hardcore fans would respond to this sale, so they had no concerns that they would be giving away their product for an insane discount to the majority of their audience — they were right, they were able to tap into that small percentage of loyal fans, helping them raise a substantial amount of funding, all while delighting their hardcore fans (win-win).
This sale generated over 6-figures, helping the company fund a much-needed upgrade project for the company in about two weeks time. Finding creative ways to leverage segments of the existing customer base is a powerful alternative when you don’t want to go down the investor or debt route to fund an expansion project for the company.