Every business owner or marketing professional knows that you need to be able to market your business in order to stay afloat in the sea of competition. But some people find it hard to come up with a strategy, or the time, money, and know-how for it – which is why you can always find articles on how to grow your revenue by 50% in one year. The truth is that there are plenty of ways for businesses – large and small – to boost their marketing efforts without having extra spending money. This article shall elaborate on some of the strategies that Thematicessay suggests you to use to increase your revenue by as much as 50% in one year, without having to spend loads of cash.
1. Make the right connections.
This is the most important thing to know when marketing a business. If you cannot market yourself to the right people, you’re just wasting time and money. The first thing you have to do is find out who your audience is; how they think, what they read and watch. If you can’t find this information then it’s better not to waste any more time on promotion because there’s a chance that half of your marketing budget will be wasted on promotion that doesn’t reach your audience. Once you know your audience, you need to connect with them. This is a two-way strategy: you need to utilize the tools that will allow you to reach out to your audience and they need to be able to reach out to you as easily, or you’ll be using money and time for promotion that only reaches the air.
2. Study your competition and look at their weaknesses.
The first thing that you can do is look at your competition and see what your customers like about them. If they’re doing something right, then you should try to take it and mold it into something of your own. The second thing that you can do is look at their weaknesses and capitalize on that. Some people might not like a company just because they have no other choice. Find out what their weaknesses are and how you can solve that problem for them. You’ll also be on the safe side because if the other company did start addressing this problem, you already have a way to keep ahead of the curve.
3. Think outside of the box – literally.
In order to start doing marketing right, you need a brand identity. A brand is all about what you stand for and how people perceive you. Successful businesses have a recognizable trademark that they put their name on and use to promote themselves. Take note of the things that make your business unique and make use of these characteristics in your marketing strategies.
4. Expand your product line or service offerings.
When you start off with one product, you’ve just started out on a relatively small scale. It takes a while to build up a strong customer base, but you can do it much faster with several products or services that cater to different people. By adding new products or services, you can expand your market and reach new audiences who are interested in your brand and the different aspects of your business.
5. Create more value added products to boost sales.
Every company is trying to increase their profits by creating unique and boosted-up products that will gain some attention of the customers, thus bringing more money in from each sale. The main goal is to create something that will attract customers and make them want to buy the product because the chances are good of them coming back for more. Don’t forget to constantly think of new ideas and products that you can use to make your business grow by 50% in one year.
6. Use marketing automation software as a way of increasing revenue.
This is an effective way to save money because all you have to do is set up the software according to your needs, depending on how many customers you have, and it does most of the work for you. The automation software will spread your message through different social media platforms, email broadcasts, and email campaigns that include a link where customers can buy your product or service. There are many different software programs that you can use for your marketing needs; the most popular is MailChimp.
The Bottom Line
To sum it up in the simplest of terms, you need to find out your target audience, connect with them and study your competition and their weaknesses. This way, by knowing what makes your business unique or better than the other, you can create new products and promote them while using automation software to increase revenue. By using this strategy, you can increase your revenue by 50% in one year, without having to spend loads of cash.
Author Bio:
Hi. My name is Kathy Keeks. I’m a writer and digital marketer with a passion for content. I write blog posts, articles, and social media posts for others. I love to travel, Netflix and Beyonce. I love what I do! I help people find their voice and tell their stories. I love to write and am always looking for new projects. Now you know everything about me, too.
