How To Increase Revenue?

CCG Strategies Q&A Blog: To-the-Point Answers to Common Leadership and Management Consulting Questions

How to Increase Revenue?

It's a common question that many business professionals ask.

We're going to answer in less than 30 seconds.

Short Answer: Increase your business' revenue by understanding the market, providing better products and services, and deepening relationships with current customers.

Long Answer: Business owners are always looking to increase the money they make. It's easy to just increase prices, but that's not a sustainable response. Unjustified, increased prices is a guarranteed way to lose existing customers and turn away new customers.

If you are struggling to turn a profit do the following:

Understand the market

Identify your market share, the consumers within your market share and the consumers that you haven't reached. target the right consumers. Understand their motivations, needs, spending habits, and needs.

Provide Better Products and Services

Use the information you found out in the previous step to create better products and services. Create the products and services that your target consumer wants and that would survive in your market.

Deepen Your Relationship

Connect first with your existing customers. Make it very clear that new products and services are meant to serve them first. This can come in the form of loyalty programs, existing customer coupons, or (example). Then work on creating relationships with your new customers. Focus on relationships first and selling second. Where there is trust, there is opportunities.

If you have questions about how you can leverage your skills, connect with a CCG Consultant who can help you make better career moves and give you the skills you need to get a better job!

Check out our self-serve strategies to learn the leadership skills that can make you a high-impact player.