5 Surefire Ways to Increase Revenue in Tough Times
In tough economic times or when your company revenues are not meeting targets, the gut instinct for most companies is to reduce marketing expenditures. This may not always be the best approach. The one thing you need more than anything is sales right? But in order to support the existing clients you need money. So what do you do? You just have to become creative.
Here are a few tips that can drive sales and save you money at the same time.
1. If you haven’t already, start building an email list and send an email newsletter. It’s an inexpensive way to promote your products. Whether you send out 5 emails or 10 000 emails, the cost is pretty much the same.
2. Drive traffic to your web site through existing ads. By making your ads smaller and increasing the frequency, your message will get out to more people.
3. Start tracking your ads. Use special tracking numbers or promotion codes. You can easily find out what ads work and which don’t.
4. Promote your web site everywhere. That means on emails, letterhead even your answering machine. Where will your customer go when they need info or want to do business at 3 in the morning?
5. Up sell your existing clients. Sometimes a sale is right under your nose. Do they know about everything you do? Are you listening to their needs?
Todd Jamieson is Founder and President of EnvisionOnline.ca, an Ottawa-based web development and consulting firm. He holds a Bachelor of Business in Marketing from Bishops University and has over ten years experience with Internet and database technologies. Jamieson has worked as Project Manager on more than 200 web sites, web applications and Internet e-business initiatives for small and medium sized enterprises. He is also actively involved in a number of other small businesses and is Associate Director of Exploriem.org, Professional Entrepreneurs and Intrapreneurs Organization. He lives in Ottawa with his spouse, Erin.