It’s never a good sign for your business when revenue is down. Once you notice those numbers dipping, you need to spring into action and make big moves that will get them back up—before it’s too late.
There could be many reasons why your revenue is suddenly down, but transforming your company’s sales and marketing strategies could be the best avenue for you to take in order to generate new leads and get new paying customers.
Engage with Prospects and Customers on Their Turf
If you can’t seem to get new customers with your traditional tactics, like cold calling and mailing brochures, it’s time to switch gears and get into the twenty-first century. Prospects are dodging calls, deleting generic emails, and throwing out brochures immediately. These tactics won’t work anymore. To increase your revenue, you need to talk to prospects and customers on their turf. And considering the majority of them are on social media, this is a great place to start having conversations, building relationships, and showing off your products or services.
You might think of social media as a waste of time—in fact, you might even have banned it from your office—but it’s actually highly effective for engaging with prospects and customers. People are posting reviews, asking questions, leaving feedback, and researching products and services on sites like Twitter, Facebook, and LinkedIn. Wouldn’t you want to be there to provide additional information, answer questions, and listen to what people are saying about your brand?
Using social media for business will help you build strong connections with your audience and share valuable knowledge, so they’ll be more likely to buy from you.
Drive Leads to Your Website
When sales are declining and revenue is low, it’s time to find new ways to generate leads, namely, with your website. Customers now want to be in charge of the sales process. They want to be the ones making the first move and coming to you—they don’t want to be aggressively sold to.
You can utilize your website as one of your strongest sales tools by ensuring it’s professionally designed, attractive, and easy to navigate, and using SEO tactics, paid search, and content marketing to get leads to your website. Once you’ve successfully driven leads to your website, you can educate and inform them with valuable content, get them to contact you with calls to action, and eventually, nurture them with email marketing to convert them into customers. It’s the path of least resistance, it reduces your cost per lead, and it has a high ROI because it works. It’s never been easier to generate leads en masse than with inbound marketing.
Qualified Leads with Lead Nurturing
As we mentioned above, the next step to take after you’ve driven leads to your website and gotten their contact information in exchange for a valuable offer is to put a lead nurturing campaign together in order to move these leads down the sales funnel. If your salespeople are wasting all of their time on unqualified leads, it’s no wonder your revenue is down. When you first nurture your leads through email marketing and targeted messaging, you can not only shorten the sales cycle but also make sure the leads are sales qualified before passing them on to your sales team to close the deal.
Make Use of Analytics
To improve your marketing and sales techniques in order to increase your revenue, you should be using web and marketing analytics. With analytics, you’ll be able to track what your leads are doing on your website in real time, how they’re responding to your email marketing messages, which types of paid search tactics are working, and so much more. With this type of big data, you can modify your sales and marketing techniques to ditch the stuff that isn’t working and only invest in what is working.
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