{TUTORIAL} – How to increase monthly revenue for your business

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Increasing monthly revenue or sales is the key focus for any business owner, sales director and CEO. You need to constantly be focused on how to increase revenue and you do need to have a revenue generation strategy within your business plan. The Internet has broken the rules on how you can increase sales and revenue which is to say there are no hard and fast rules. A few years ago, you could hire a sales team and wait for them to bring the sales to you. Today, everyone needs to be selling but without being annoying or irritating.

How do I increase monthly revenue for my business without annoying potential customers or clients?

The key thing to understand is the way people purchase products on a B2B or B2C angle has fundamentally changed. Just because someone has enquired to purchase your B2B service doesn’t mean they will purchase today and likewise, just because someone has put a product into your business’ shopping cart doesn’t mean they will purchase today.
To increase your monthly sales or revenue, you need to decrease the amount of people abandoning your purchases from your online store or you need to decrease the amount of prospects who don’t want to sign. Let’s get stuck in so you can learn how to increase monthly revenue today. To get started on this tutorial, I am going to use the digital marketing industry as the example but you can apply these tutorial steps to any industry from e-commerce to wholesale.

Tutorial Step 1: Create your goal list and work backwards

Whether you want to generate $1,000 per month or $100,000 per month, you need to work backwards. Let’s imagine that you want to generate $20,000 by selling social media marketing services to your clients. Imagine you will charge each client $1,000 per month, this means you need to get 20 clients to pay you within one calendar month.
Finding 20 clients to pay for social media marketing services in a market that is saturated requires thinking about what you offer that is different and work backwards.
Tutorial Step 2: Print out your goal and repeat to yourself every day
Print out a sheet of paper with the number 20 on it and stick it in your office or in your sitting room so that you can stay focused on your goal every single day.

Every time you get a client within the month cycle, put that on your paper with the number 20 on it and write the number of clients remaining in order to hit the target.

Tutorial Step 2: Create a list of ideal clients within your sector and start contacting them

To grow a client base of social media marketing clients, you need to have clients that you can work with. Of course, it would be wonderful for your first client to be a huge brand like Coca-Cola but we know it is almost impossible to get commissions from brands this big without going through their processes such as when they listen to agencies pitching. There are also incumbent agencies that feverishly guard these accounts.

Another way to hit your target that is a better way to increase monthly sales is to find smaller companies in markets that tend to be overlooked. Try for logistics, manufacturing, financial services and technology companies in the payments sector for example if you want to expand your monthly sales. Some of these markets do not receive as many enquiries as you think which means they will be more willing to listen to you.
Approach companies that do not have a marketing agency working for them in order to get faster answers as to whether or not they will hire you.

Tutorial Step 3: To get 1 client, you need to contact around 80-125 prospects via email every day

Telephone sales would help you get sales quickly but the phone is increasingly seen as annoying and a distraction from the person you are calling. More often than not, when you call the person, they will tell you to call later and they will stop picking up your calls.
Instead, I prefer using targeted cold emails, not spam. You can’t collect x125 emails and send it at one go. You need to send each email one by one in order to get positive responses. There are some sobering statistics for entrepreneurs who are trying to increase revenue. Hubspot revealed that 24% of sales emails are opened. That leaves a stack of unopened sales emails and leaves business owners wondering whether they will get the project or not.

It is important to contact many potential businesses to gain projects but you need to be targeted and write good sales email copy.

To get 1 client for social media marketing from cold emails, you need to send around 80-125 cold emails in one day.

80-125 cold emails should generate some positive replies and from these replies, you should be able to get 1 client.

There are 20 working days in most months, if you send these emails within the range every day, you should be able to get 20 paying clients within one month in order to generate $20,000 per month.

Tutorial Step 4: Ask for one referral per week

Referrals are excellent if you want to boost sales or if you are going through a dry spell. To reach your target, ask for one referral per week from existing customers. If you want to be even more aggressive, ask for 2 referrals per week.
4 referral requests could gain you one paying client
8 referral requests could gain 2 paying clients

Tutorial Step 5: Ask current clients to increase their order size

Once you have a stable of clients who are paying you, ask them to order more work. For the B2B marketing world, if you are offering social media services, also offer email marketing consultancy work so that you can make your clients successful. By offering more services, you will be able to increase your monthly revenue so that you can reach the target of $20,000 per month in revenue.

Did this tutorial help you? Are you ready to start today to increase revenue?

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