How to Increase Revenue of your Local Business Online?

Sales are the most important activity of a company for which company goes to hire people, buy new equipment and many more. A company cannot exist in market without sale. Today all companies want to increase their revenue. Revenue can be increased by getting traffic on your website. For this they adopt different ways like launching of new product, optimizing the websites and many more.

Some of the best ways to increase the revenue are as follows:

Aligning Pricing: In this, the bigger customer must get a bigger discount or you can say awesome clients will have awesome offers. This will increase the competition between different distributors in market of lifting more and more products to avail more discounts. Some low-paying customers are not very profitable to you and you may lose some money on them. But it is okay to lose money on some products so as to make some reputation in market as Sony did. Sony lost money on its every PlayStation 3 but PlayStation 4 was a great profitable.

Discount (sale): Sale is a keyword which generally attracts more customers. By offering different discount percentage one can increase its sale which directly affects revenue. Make precautions while giving discount as don’t go below dealer prize otherwise it will bring loss. Many customers like to shop because they see Discount, if though the discounted prices are similar to retail prices. No doubt the customer will purchase only in the season of discount but something is better than nothing.

Adding Pictures in Drop Down Menu: If you are having a website then optimize it by removing drop – down menu because in this menu, customer only get to known about different products you  sale. Rather to just writing the name of products try to adds its pictures as picture speak more than words. Adding more and more images helps in boosting up product desirability. Try to make your website as impressive as possible.

 

Enter into cooperative sales agreement: Make contacts with companies that sell complementary products and request them to sale your products too. Like if you are a software provider company, and then you should contact the related hardware company to help you. This will help in making your market value and reputation.

Email Marketing: The concept of “Trigger Emails” helped online retail companies in achieving a great success in market. It means sending the Emails to customer about the product which he had added in his shopping cart but hasn’t made any purchase. Instead of sending simple mails which a person can ignore try to send impressive mails which contain special offers on concerned products.

 

SMS Marketing: Many companies helps you in advertising your products with the help of sending text SMS. You can send same SMS to lakhs of persons at same time at very simple and affordable price. As everybody must have a mobile phone and most keep it close 24*7 so SMS marketing is better and quite more effective than Email marketing.

 

Enhancing visitors trust: Always include customer reviews in your sales letter. A review must contain the information about “How your product is different from other and useful?” rather than it just says “the product is great”. It helps in building customer trust on your company.

 

Focus on your site visitors: The most successful companies take care of this thing that they can provide best answer to customer query. Give the best solution to query will also help you building trust. Rather than to use keywords like “I”, “Me” or “our”, use keywords like “you” or “your” this will interact the customer. Use local queries that are used to find products by people in regional areas. This can help you get targeted local traffic and can increase your sales.

 

Convince Reader for instant buying: By offering a good discount, by saying limited quantity in stock, additional bonuses and many more will help in convincing the customer to buy the product instantaneously.

 

Add Additional services to existing products: Adding additional services will help you in attracting more customers as well as maintain the existing customers also. Like is it is garments company then you can offer a free nail paint for purchase of any girl’s accessories with a specific amount or if you sell computer products then you can offer for some front services or backend computer training centers.

 

Renew old customers: It is easier to sell products to old customers than to have new one. Try to feel them as they are really special to their company and ask them for references. Creating a new customer is difficult task because you cannot build someone trust easily. So better way to make new customers is through the trust of old ones.

Raise or Lower Prices: An Immediate increasing of Prices will add profit if it does not have negative impact on sales. If it is impacting the sale then explain “the reasons” for raising prices like better guarantees, better customer services, better ingredients etc.

Have a Special event: Conduct some special events to introduce your new products to public. Do this in impressive manner which will blow their mind and people feel good to participate in it. For example, you can organize various singing or dancing competitions in which their active users can effectively participate. You can also take your top best dealers on yearly trip.

Advertisements: Newspaper, magazines and many other regularly used products helps in advertising your product. Facebook Ads can help you reach targeted customers at a very low cost.

In last I want to say “Test everything, but assume nothing”. As you never know which technique helps your business? And testing different things is the only way to discover what is good for your company. The motive of a good company is to know and understand the need of the customer and result of it is, the selling of products by itself.

Try each and everything like Facebook Ads, Local Listings, Adwords, Display Campaigns and evaluate which works best for you.

Successful companies used to change their market strategy time to time in accordance with the need in market and customer reviews. Each of these strategies powerfully helps you in good revenue generation. But in last, it is totally depend upon your knowledge and understanding about the customers you serve.

Abhishek Jain

Abhishek is a Blogger and Digital Marketing Consultant with over 5+ years of experience in Digital Space. He is one of the director at the Best SEO Company in Noida, India.

2 thoughts on “How to Increase Revenue of your Local Business Online?

  • June 12, 2017 at 12:12 pm
    Permalink

    Hi Abhishek Jain,

    Thanks for this wonderful article about to Increase Revenue of Local Business.

    Reply
  • June 19, 2017 at 6:06 pm
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    Hi Abhishek,
    These are fantastic tips. You have crafted a useful post.
    Thanks for the share.
    Have a good week ahead.

    Reply

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