By now, you’ve probably made some professional resolutions to boost that bottom line. But will you be one of the special 8% that actually achieves their new year’s resolution?
The good news is that you can increase your revenue with simple, realistic marketing strategies for the new year. Implement these three proven methods to make your business stand out and soar into the future.
-
Spice up Your Content Dish
“Content is where I expect much of the real money to be made on the Internet.” – Bill Gates, “Content Is King” (1996)
Surprise! Bill Gates was right. Estimates show that digital ad spending will surpass traditional television by as early as 2017. This points to the continued rise of content marketing.
The Content Marketing Institute reports that 88% of B2B organizations are using content marketing to drive growth, and that 76% plan to increase their content production in 2016. However, a mere 30% of marketers believe their organization does content marketing effectively.
So what’s the problem? Well, just 32% have an established strategy and only 44% of teams meet weekly. The first step to success is to have clearly defined goals for your content strategy. The next step is constant face-to-face time with the marketing team to monitor progress and make changes as needed.
Being effective at content marketing is also about mixing up the content you provide customers and visitors. Content needs to be informative yet entertaining, while also supporting larger company goals and boosting revenue. With advanced technology at your fingertips, there are countless ways to deliver content. Some major content types you may not have tried yet include:
- Tutorials
- Webinars
- White papers
- Live-action videos
- Animated videos
The idea is to be creative and exciting with your content, and stray away from repetitive formats. Definitely make sure your content is mobile friendly as well. Don’t be afraid to deliver the same content in multiple forms. For example, stats from a research report can be published as social media posts, and a slideshow can be made into an infographic.
The simple resolution: The key in creating the right content marketing playlist lies in identifying the purpose of your content, understanding your audience, and analyzing what works. From there, you can formulate an efficient content calendar that will lead to more visitors and engagement, and ultimately more leads and conversions.
-
Connect with Current Customers
“If you do build a great experience, customers tell each other about that. Word of mouth is very powerful.” –Jeff Bezos
When it comes to growing your business, your existing customers are your greatest asset.
Think about this: it costs 7 times more to gain a new customer than to retain a current one. Additionally, customers who have a good experience are more likely to become repeat customers, and repeat customers spend roughly 67% more on average than a new one. These stats illustrate that taking care of your current clients is paramount to increasing revenue.
How can this be accomplished? Understand the goal: to turn existing buyers into lifetime customers. The following methods have been known to work:
- In-person events
- Membership rewards
- Incentives for referrals
- Asking for customer input
- Complimentary products or services
Increasing revenue through existing customers is much more than just going the extra mile to serve them, it’s about making the buying process easy and solving issues quickly. After all, 82% of customers cite quick issue resolution as a major element of exceptional customer service—more than any other factor.
And while existing customers are not as likely to share their positive experiences as those customers who have had negative experiences, they still do. 23% of customers who have had a positive interaction tell 10 or more people. Add in the fact that potential customers are more likely to believe a friend or family member than anyone else, and you have a very effective marketing channel.
The simple resolution: Reach out to current customers with enticing news and offers. If they see the benefit, they will return—and bring some friends too.
-
Change with the Times
“The best way to predict the future is to create it.” –Alan Kay (an American computer scientist)
When business conditions evolve and competition improves, a business has to innovate in order to maintain pace. Those companies that do not fall to the wayside. Offering new products and services that address evolving customer needs is the way you keep your business rolling smoothly into the future.
Bloomberg states that 8 out of 10 entrepreneurs who establish a business fail. This is a result of an inability to continuously provide unique and valuable products to clients. So if you do not want to be a deer caught in the headlights when the need for change arrives, plan ahead by innovating now. As Steve Jobs said, “Innovation distinguishes between being a leader and a follower.”
Innovating is easier said than done, right? The truth is you do not need a miracle. You just need a strategy to keep new ideas flowing. You may be surprised to realize inspiration is right at your fingertips. Consider these methods:
- Read the latest industry research.
- Combine products or services to create better ones.
- Identify what industry leaders are doing to solve similar problems.
- Observe customer actions and listen to customer feedback and complaints.
- When in doubt, simplify.
Even seemingly insignificant modifications can make all the difference. For instance, Body Ecology, an online health products store, removed their website’s drop-down boxes after eye-tracking studies proved their annoyance. The result? A brand-spanking 56.43% increase in revenue.
The simple resolution: To succeed, you must stay updated on the latest in your field. Also, stay in touch with your customers and provide something that meets their continually changing needs. Lastly, nail down a solid business strategy and run with it.
