The two most obvious ways to increase your overall revenue are 1) Get more customers and 2) Get more out of your current customer.
Sounds simple, but where to start?
With your Product & Activity Funnel. This essentially breaks down all your activity and ensures that everything you do is aligned with objectives that seek to deliver on your goal of more leads, more customers, more sales and ultimately more revenue.
This stage is where we seek to attract visitors and potential customers to your website. We use channels and activities that best suit where your customers are and tailor the message to suit.
Channels and activities include; search, social, email communication, display advertising, native advertising, social influencer strategies and retargeting to name a few.
Once we drive visitors to your website we then need to convert them into customers. The Activation stage includes tactics such as; conversion funnel optimisation, a/b split testing, optimisation or your product offering and brand story as well as your overall user experience and site structure.
Here we aim to keep your customers coming back! It’s easier to keep a customer than obtain a new one however you must strive to deliver true value to them.
This is where your loyalty structure and strategy, your community benefits i.e. ongoing social community content as well as advertising tactics like retargeting need to play a key role.
So you’re now getting new customers and your retention rate is now great! But we can do more. Increasing your average sale amount or increasing your lifetime customer value can make a significant difference to your bottom line.
Using your customer data, we can make informed decisions on when and where we can increase prices, run special on products, implement discounts for multi purchase and promote upsell of like products or repeat purchase.
Most businesses will stop at the ‘revenue’ stage, however, there is a lot to be gained by simply incentivising your current customer base to spread the word for you!
Need help getting more customers, keeping them and getting more out of them? Get in touch with us today for an obligation free discussion.