There are two key metrics to track when implementing revenue growth:
New customers: The first time buyer is a goldmine. Because he quickly becomes a repeat customer, especially if you sell consumable products or services that repeat over time. He’s a first-time buyer only once, but he can be a repeat customer hundreds of times. Or thousands.
New products or services sold to customers for the first time: Selling something for the first time to a long-time customer is incredibly valuable. She has been buying something else from you for 15 years. Now she will also buy this product for the next 15 years. And while we’re at it, let’s add a new product or service every month or so. Because, why not? She’s probably buying it elsewhere, and she’d be better off buying it from you. Right?!
These two types of sales are have massive revenue potential for your business. Which is why it’s critical that you sell to prospects who are not yet customers, and also educate your current customers about all that they can buy from you.
If you haven’t seen it yet, watch my new 140-second video about working on the business, rather than in the business.
Let’s talk about growing your sales proactively: Call me at 847-459-6322 or reply to this email to discuss a revenue growth project at your firm.
I'm a market strategist, consultant, coach and speaker for product and services companies that are looking for dramatic growth and increased revenues.
My clients include Fortune 500 firms like Amazon and Sprint - as well as publicly traded companies like Logitech, TiVo, Virgin Mobile and Yelp.