Do you need to increase revenue in your business?
If you’re like most business owners, the answer is yes. Most business owners feel the need to increase revenue no matter the size of their business. If this is you, then you are probably worried that without increasing revenue you won’t be able to grow as fast, or your business may even contract and you may need to lay off employees. This is stressful for you as a business leader. You know that ultimately if revenue cannot keep pace with expenses, then the very survival of the business is in question, including the livelihoods of all of your employees. This is a lot of pressure on your shoulders.
Problem Worth Solving
As marketers, it’s JUG Team’s job to help companies grow, increase revenue and overcome challenges. In this article we’ll explore some of the reasons your company may be experiencing revenue stagnation or decline, and what we can do together to turn it around.
Why is Revenue Down?
There are myriad reasons why your revenue may be down. Here are some of the most common:
- Not Enough Outreach
- Message and Audience Mismatch
- Stuck Sales Funnel
- Not Enough Communication
1. Not Enough Outreach
Essentially this boils down to not reaching enough prospects. Depending on whether you serve consumers or other businesses, this may mean specifically “not enough advertising” or “not enough business development”. Sometimes you just need to reach more people in order to fill up the first funnel.
2. Message and Audience Mismatch
If your advertising or business development efforts aren’t yielding good results, you may need to reexamine your messaging and/or your audience. Your message should always be tailored to the specific audience you are trying to reach. For example, an ad addressing creaking joints and painful knees will get more response from adults over 50, rather than an audience of college students in their 20’s.
3. Stuck Sales Funnel
If you have plenty of prospects and interest in your products or services, but sales are down or flat, then you need to look a little deeper to find out why prospects aren’t converting into customers.
- Is there a key customer pain point that you haven’t addressed?
- Is there a competitive offering that you are unaware of?
- Do you need customer evidence such as testimonials or case studies to bolster buyer confidence?
- Is there something in your sales process turning off prospects? This could be anything from an ineffective landing page to a grumpy receptionist.
4. Not Enough Communication
Prospects that are still on the fence about your products or services may just need one phone call to make the leap and become a customer. Past customers need to hear from you in order to remember to re-engage or to recommend you to others.
How Can Strategy Increase Revenue?
While we’ve covered four common reasons your revenue may be down, in reality it is most likely due to a combination of factors. As a business leader looking at a shrinking revenue trend, you may be lured by a quick fix. There is a tendency among business leaders, and among some marketers, to oversimplify the problem as well as the solution. As Abraham Maslow said, “To a man with a hammer, everything looks like a nail”. A sensible strategy goes beyond a quick fix.
Diagnosis Before Prescription
At JUG Team we have a full suite of tools and methods combined with decades of experience and know-how. We know that just like a doctor will examine a patient thoroughly before giving a diagnosis and providing a treatment plan, we need to look at the business landscape and big picture of a company before crafting a sensible strategy and making specific recommendations.
Strategy Quick Start
We’ve created an offering to help business leaders broaden their perspective, diagnose root problems, and have an action plan to confidently move forward. This Strategy Quick Start is a 5- week program to engage leaders in a guided assessment across four critical business areas rife with opportunities to increase revenue:
- Corporate Brand
- Communications
- Customers
- Product or Service Marketing
What Your Team Receives
Your team receives a broadened perspective and tangible deliverables along the way. At the end you receive a Summary Report including an Opportunity Map and an action plan with a clear path to move forward. There are no expensive corporate retreats needed. Your team keeps working at their regular tasks. We do 80% of the work and guide you for the rest.
Benefits of Strategy Quick Start
Leaders who have participated in the Strategy Quick Start have increased competitiveness, increased revenue, and empowered their teams to make a bigger impact.
Ready to Increase Revenue?
If you want to increase revenue over the next 30-60-90 days and beyond, let’s talk. Call (657) 221-7128, email info@jugteam.com, or fill out the form. We look forward to meeting you and learning about your business situation.
