Top Ten Ways To Quickly Increase Business Revenue
Posted by Stephen Taylor on September 3rd, 2021
Owners often wonder as to how to generate revenue in business in a short span of time. Studies show that the best and quickest way to do so is by getting more customer-centric. Being a reputed brand it can be safely assumed that the customers already trust you. The catch here is to look for superior and more ways to serve them! This will enable you to increase the frequency/number of business transactions and average transaction size. Businesses attributing marketing activities to revenue generation need to increase the ‘perceived value of what they offer, inducing the customers to spend more with them and more often.
The onset of the coronavirus pandemic challenged businesses to stay afloat and continue generating high-margin revenues. The innovators and early adopters survived the impact of the pandemic, maintaining steady revenues by being more customer-centric. These businesses found innovative ways to tackle the situation. Most of them incorporated breakthrough marketing technologies in marketing-mix leading to better customer engagement and revenues. Adopting new-age technologies like moLotus they have not only transformed their interface with customers but also reimagined the customer processes, delivering value to customers and adding significantly to the revenues.
Here are the top ten ways for businesses to ensure quick revenue generation :
1. Faster Lead Generation
Undoubtedly more lead generation means more business revenue. Mobile advertising tools have emerged as the best way of generating and converting sales leads at a faster pace. Mobile lead generation campaigns delivered via tools like moLotus quickly prompt the consumer to buy a product or service. The campaign messages are eye-catchy and offer value to consumers. The spam-free moLotus video ad campaigns are assisting businesses to attract more customers to their products. They can add multiple customer response options in the video campaigns, adding more context. The moLotus ads build trust among the consumers and generate more leads and revenue than any other online video marketing platform.
2. Better Customer Reach & Scalability
Superior customer reach leads to better response and ultimately more revenue generation. Businesses are capable of reaching millions of customers at the same time via mobile marketing tools like moLotus. Campaigns triggered by this new-age marketing platform offer global scalability which is essential for catering to the tech-savvy customer base. The technology quickly delivers automated ads to mammoth customer databases directly into inbox opening up superior revenue opportunities.
3. Superior Customer Communication
Businesses should communicate with the customers more often and give them new buying ideas and appropriate solutions. Studies show that customers expect a relationship with the brands they patronize. Close association and interaction with customers result in frequent buying adding to quick business revenues. Brands should create interactive marketing campaigns with response options like SMS, Callback, Click URL, etc. using an advertising platform like moLotus. Interestingly the platform supports a variety of rich media formats including video, dynamic greetings, brochures, slideshows, and showcases. Businesses can take advantage of these formats to add product pictures, voice-over, and music, creating attractive storyboards, brochures, catalogs, and HQ videos upto 40 sec. in the ad content. This will further engage the customer base, augmenting the revenues.
4. Enhancing Customer Retention
Revenue maximization is the ultimate aim of loyalty and retention campaigns. Mobile loyalty ads can do wonders in this regard. Studies show that loyal customers readily spend on products and services than new customers enhancing business revenues. Brands are creating hyper-personalized loyalty ad campaigns via tools like moLotus for special occasions like birthdays, anniversaries, reminders, and festivals. These ads are custom-branded with options for name, greeting, reward, call-to-action for each customer. The outcome is enhanced customer retention and a quick surge in high-margin revenues.
5. Process Transformation & Automation
One way to improve efficiency and enhance revenue generation is by automating customer processes. Businesses should automate and transform their customer processes via digital transformation tools like moLotus. The mobile automation tool and technology is best suited for end-to-end transformation. moLotus can automate the entire customer-related process right from lead generation, customer onboarding, customer support, mobile trade & commerce, outbound calls, loyalty cards, and more leading to enhanced customer engagement and rapid revenue generation.
6. Cost Minimization
During the present pandemic scenario cost minimization has become the top priority for global brands, adding to rapid revenue maximization. Mobile advertising has contributed towards effective campaign creation at a shoestring budget. On account of burgeoning advertising costs ad platforms like Facebook, YouTube. etc., are gradually losing their shine. For businesses in pursuit of cost-effective marketing solutions, moLotus could be an economical and revenue-driving alternative to other digital advertising tools. It is in fact the best option for businesses to reach their customers quickly on their mobile devices at a minimal cost without depending on any app download or data connection.
7. Emphasis on Upselling & Cross-selling
It is a well-known fact that selling to an existing customer is easier and better than to a new one. Studies suggest that the probability of revenue generation from new customers is just 5-20%. The probability of generating quick revenues from existing customers is a whopping 60-70%. Businesses should take advantage of their existing customer base by offering them additional products. Upselling and cross-selling have proved to be one of the 0 revenue generation models for businesses. Global brands have perceived considerable revenue-making opportunities in tumultuous times and are fast embracing tools like moLotus to drive their revenue via upselling and cross-selling campaigns.
8. Enhancing Brand Visibility
Studies show that a focussed brand awareness drive is the first stepping stone for revenue generation. Businesses invest considerable time, effort, and finance into the development of a new product, therefore can’t wait to show it off. They can easily position their new offering in front of a busy, distracted audience using a mobile marketing platform like moLotus. Mobile marketing via moLotus has yielded high volume sales and business revenue. Innovative brand awareness campaigns powered by the new technology have significantly contributed to quick revenues with greater ROI for global brands.
9. Educating Customers
Businesses should educate their buyers on the superior advantages, benefits and results of buying their products and services and explain “the reasons why” their offerings are better than that of the competitors. Brands now have the privilege of augmenting revenues by educating their consumers using mobile video advertisements. During this pandemic season, the moLotus mobile videos have been a rage among home-stuck customers and have educated them. Their emotional impact on customers has led to quick response, sales, and profits.
10. Extend the Geographic Market Area
Brands should make efforts to expand their market in order to increase their business revenue. Research shows that the additional cost of market expansion is often less than the sales potential. Mobile marketing gives them the ability to target markets based on demography and language, ultimately generating more revenue. With moLotus, it is now possible for brands to target different demographics and languages and extend geography. The powerful platform is capable of targeting specific customers that are likely to purchase desired products or services. Businesses can use their rich customer data such as age and interests to fine-tune ad campaigns to consumer needs.
To stay ahead of the curve, businesses should focus on innovation and forward-thinking. They should be putting extra attention to the changing demands of new-age customers. Technology is key to increasing revenue and must be ingrained in the business strategy to increase revenue. Advanced tools like moLotus can help your brand get better market acceptance, find more breakthrough transformation opportunities, sell products more effectively, and reach revenue goals rapidly.
Like it? Share it!
About the AuthorStephen Taylor
Joined: August 26th, 2020
Articles Posted: 36
More by this author