In essence, there are only three ways to grow your business. Increase the number of customers, increase the purchase frequency, and increase your average transaction value. However, there are a number of not so obvious ways to increase sales and make your business more profitable. Here are four of them. Ready? Then let’s go!
1. Automate processes to increase efficiency and reduce cost
Today, there are thousands of tools out there to help you automate repetitive business processes. Simply automating a few things can help you significantly reduce wages and free up valuable time. When looking for ways to grow our business, we often overlook areas that don’t directly contribute to your profit. Here are a few things you can automate quickly and easily that could put money back in your pocket.
- Social Media Posts
- Invoicing
- Email Marketing
- Online Advertising
- Lead Generation
- Sales Processes & Follow Up
- Internal Task Management
- Review Management
Tools like Zapier and Integromat can help you connect various services and software to make processes even more efficient.
Some examples:
- When you have a new lead -> automatically add a contact to a list -> then send a follow-up sequence
- After a customer makes a purchase for the second time -> send an invitation to review on Facebook
- When a purchase is made on your website -> automatically create an invoice in Xero
2. Launch a re-targeting ad campaign
Many business owners already use ads to attract new customers and generate new business. However, if you only run direct ads, you are missing out on a huge chunk of potential customers by ignoring this simple strategy. Re-targeting ads are a powerful tool that allows you to show specific ads to people who have already interacted with your content in the past, adding continuity to your customer experience and significantly increasing the chances of turning them into customers.
Se if you can offer them something of value in relation to certain pages or blog posts they have visited on your website.
Example: A yoga studio might show a re-targeting ad for a free yoga pass to people in their area who have read blog posts on the benefits of yoga on their website. When people see the ad, they can enter their email address to claim the free yoga pass and automatically be subscribed to an evergreen campaign. (See next point)
3. Stop focusing on one-off promotions and develop an “Evergreen” campaign instead
The majority of business owners think of marketing and promotions in terms of one-off activities. It might look something like this:
- January -> Promotion #1
- February -> Promotion #2
- March -> Promotion #3
While this might work well, it also requires you to continuously come up with new promotions, which can be exhausting and feel like you’re always running behind.
Instead, create an “evergreen” funnel that sends new leads or customers a series of pre-designed offers from the moment they join your list. Then keep adding new offers to that sequence. Over time, this strategy allows you to develop a marketing machine that continuously produces sales without ever having to worry about what your next promotion is going to be. You just need to make sure that offers in that sequence are timeless and not seasonal.
All you need is a good email automation tool, like Mailchimp or ActiveCampaign, and there are many more options available.
4. Make Partnerships “evergreen”, too
Partnerships and joint ventures with other businesses that complement yours is a powerful strategy. You might have already partnered with another business in the past to run a one-off campaign promoting your products or services. Maybe you’ve asked the other business to hand out vouchers to all their customers.
See if you can turn this strategy into an evergreen campaign, too, like in the previous example. Look for businesses that already have an evergreen funnel and see if they are happy to plug your offer right into it, while you can do the same for them.
Example: One of my clients owns a massage clinic, while another owns a yoga studio. I got both of them to add an email to their existing evergreen sequences promoting the other business. Now, everyone who receives a massage at the massage clinic also receives a complimentary yoga gift card, and everyone who joins the yoga studio receives a discount voucher for a massage a month later.
There you have it. Four (not so obvious) ways to grow your business over the next few months. All four are “set and forget” strategies that you only have to set up once and will benefit from forever.
