3 ways to predictably increase revenue and increase profitability

If you ask most marketing teams what their main focus is, they’ll probably tell you it’s “Get customers“

Getting new people to visit your website and buy your products or services for the first time is definitely one of the most important things a business should focus on. But one mistake I see entrepreneurs make is always obsessing over getting customers. profit.

Here’s what I mean: they’ll endlessly tweak their ads and landing pages, split test commas in their headlines, and fiddle with their prices in the hopes that they’ll make more from the first sale than they’ll spend to attract them. New customer.

But the truth is that this is a losing game. Very few companies are able to make a profit With their first sale. Instead, they will make their backend sales first, so they can advertise and acquire new customers even at a loss.

Backend Sales – The products and services that are sold exists Customers – the life blood of every business. They will help you to predictably increase revenue, improve your margins, strengthen your relationship with your customer, build without spending much on advertising. Customer loyalty And ultimately gives you an edge over your competitors.

So, how do you build a backend sales infrastructure that can help you grow your business? Here are three ideas that can help you increase your revenue for more profit in the next quarter:

Related: 3 ways to increase sales with existing customers

1. Upselling and Cross Selling

This is a quick way to start building your backend sales. Upselling and cross-selling are two marketing practices that involve offering additional or complementary products or services to existing customers. The secret to making this effective is deep understanding What your customers want And identify what can bring them closer to their goals.

For example, we have a range of done-for-you marketing products where my team creates assets like Facebook™ ads, press releases or high-ticket funnels for our clients. Many of those clients liked our work so much that they naturally asked us if we had a more in-depth program where we could follow their growth over a longer period of time. That’s how our Accelerator was born – an upsell that allows our existing customers to get 1-1 support from us and grow their business faster.

As you build your upsells, think about how you can get your existing customers to achieve their goals fast or more easily. This will give you a good foundation to build your first upsell product.

2. Loyalty Programs

Think about your local supermarket. Why do you keep going back there? Sure, it can be conveniently placed and you will love its products. But many of them also give you discounts, Gifts and other incentives The more you buy from them.

This is one of the most effective ways to get your customers to buy from you again and again, and thus you increase revenue and profit at the same time.

However, this comes with a word of warning – don’t overuse discounts and coupons, as they can start to make your customers expect them, making it harder to raise prices later.

Related: How brands can turn short-term rewards into long-term loyalty

3. Exceptional customer support

Finally, one of the most under-discussed ways to keep your customers buying from you is by providing exceptional customer support then is sold.

According to hubspot93% of customers are more likely to become repeat customers at companies with excellent customer service.

Supporting your existing customers isn’t just about responding to their complaints in a timely manner or giving them refunds when they don’t like your product or service. It is going above and beyond to make sure they are satisfied with what they have purchased.

This can be done by sending them additional guides that help them get the most out of your product, providing them with additional coaching to ensure they succeed in your programs, and sharing any resources that can help them. Excellent experience with you.

Backend sales are a fundamental part of every business’ success. Creating one can sometimes seem difficult, because you don’t know what you should offer your customers. Hopefully, this short guide has given you some ideas on how to continue selling to your existing customers so that you can predictably increase revenue, earn higher profit margins, and put some distance between your business and your competitors.

Related: 3 Strategies to Improve Your Customer Service Experience