Posted by It’s time to break free from the comfort zone and unlock some hidden revenue streams.
You’ve heard of these strategies before, but are you truly leveraging their full potential to skyrocket your bottom line? This isn’t a step-by-step manual; it’s a wake-up call to identify overlooked opportunities in your business.
These are likely elements that you’ve been putting off for far too long, thinking you would ‘get around’ to it when you have time.
Well, there is no time like the present, is there? Remember, knowledge without action is just trivia.
So, as you explore these 17 strategies, ask yourself:
Am I actively implementing this?
If yes, am I giving it my full commitment?
If not, could this be the key to unlocking explosive growth?
Dive in, break free from the rut, and watch your profits soar!
1: Telling Compelling Brand Stories
Customers crave more than just product specs. They want captivating stories, emotional connections, and reasons to believe in your brand. Content marketing is your storyteller, weaving narratives that resonate, tug at heartstrings, and build lasting relationships.
Instead of focusing on endless sales pitches, work to establish your brand as the expert, the thought leader and the Yoda of your industry. Share insights, offer solutions, and showcase your expertise through blog posts, articles, videos – you name it.
The more knowledge you drop, the more authority you build, and soon, customers will be lining up to learn from you. Then when you do pitch a product, you’ll find you don’t need to do nearly as much selling because people already believe in you and anything you recommend.
2: Harnessing Market Research as Your Passport to Profits
Market research empowers you to blaze your own profitable trail by thinking differently, selling differently and no longer following the herd. With market research you can see what everyone else sees but think what no one else has thought.
You’ll discover hidden niches, untapped desires, and customer cravings even they don’t know they have. Market research isn’t just about knowing the present, it’s about crafting a future your competitors can only dream of.
But wait – do you by chance think that market research is dry, stuffy, and boring as dirt? Then put on your detective hat and imagine you’re hot on the trail of an elusive new product that is going to take the world by storm. All you must do is find it and get it to market before others do. You’re the hero of the story and you can gamify the process, making it better and far more profitable than any video game on the market.
3: Removing Digital Cobwebs to Maximize User Experience
Remember that website you visited the other day that looked like it was from 2004? That wasn’t your site, was it? Gosh I hope not.
Make your online presence the talk of the internet, not the cautionary tale of outdated websites. Your website isn’t a maze, it’s a wonderland. Make it easy to use, visually appealing, uncrowded, and user-friendly enough for your grandma to navigate.
Don’t be the frustrating online labyrinth that sends customers screaming into the digital abyss – or worse yet, the site that looks like it was built by a teenager in 1997. It doesn’t have to be fancy or elegant, but your site should be clean, easy to navigate, pleasing to the eye and give a feeling of, “Welcome, we’re glad you’re here!”
Remember, a good user experience keeps those users coming back for more.
4: Amplifying the Trust and Building Loyalty with Referral Programs
You could shout about your business with a bullhorn, or you could build trust and encourage your current customers to bring their friends. Keep in mind that referral programs aren’t just about a quick buck – they take time to mature into profitable lead generating machines.
Referral programs go hand in hand with building a community; a love affair between you and your customers. Think of every referral as a high five from your customer, a “we get each other” moment.
Building trust with current customers is the foundation of a strong referral program. You’ll foster loyalty that’s stronger than superglue, ensuring your customers not only tell their friends, but stick around themselves, singing your praises for years to come.
5: Leveraging PPC as Your Fast-Track to Visibility
Do you want to skip the queue and grab the mic? PPC advertising is the fast track to online stardom. Of course, the instant gratification of getting leads on demand is sweet, but the real magic lies in PPC’s targeting power. You can find your ideal customers searching for your solutions at the perfect moment.
Running a business without advertising is like winking in a blackout – you know what you’re doing, but no one else sees it. PPC ignites your marketing presence, putting your brand in the bright lights where potential customers can immediately find what you offer.
Like anything else, PPC has a learning curve. You likely won’t master it overnight. But when you do, you can skip the guessing games and let targeted advertising guide prospects directly to your door whenever you choose.
6: Expanding Your Product Line – Shake Up Your Biz Before It Sleeps
You’ve got a great product, and it sells well. Now make another! Sprinkle your product line with some entrepreneurial cayenne and you’ll not only make sales of the new product, but you’ll also increase sales of the existing products, too. Each product acts as a brand ambassador for your other products. Once you sell one, it’s far easier to sell more to the same customers.
But if you get complacent and don’t add products, then just remember this: You’re either growing or you’re shrinking. There is no staying static. Things get bigger or they get smaller, and that includes your sales. The time to start creating your second product is the day after you launch your first product.
Adding products to your product line is like injecting your business with a shot of adrenaline. Remember, variety is the spice of life, and customers crave a little sizzle on their shopping plate.
7: Exploding Your Business with Diversification
Sure, “don’t put all your eggs in one basket” is old hat, but it’s true. And just as expanding your product line spices things up, diversifying your markets can make your business explode.
It’s not just about safety nets (though those are handy in the business jungle), it’s about cracking open new potential. Fresh markets = fresh profits.
Let’s give you a quick example: Bob creates a “How to market your plumbing business online” type of course. And he also adds other products and services especially targeted to helping plumbers get more customers.
But then he takes these courses and products and regears them for roofers, electricians, carpenters, contractors, carpet cleaners… you get the idea. What if one day plumbers stop buying his products? It’s no problem because he’s got 5 more product lines in 5 more niches.
8: 
Using SEO to Win Free Google Traffic
SEO might seem like something the ‘big guys’ do in dark back rooms with secret algorithms and a cast iron kettle of witch’s brew, but the fact is these days ranking high on search engines is as much about earning trust as it is popularity and SEO gimmicks.
Learn the basics of SEO and start creating content and getting links that will help you move up in the search engines for a couple of your key phrases. Once you begin to gain some confidence, take an SEO course and discover all you can about getting content to rank high.
Do this and in a year, you’ll almost certainly be getting enough free traffic from Google to make your house payment, or maybe even cover all of your bills. Seriously, if you’ve been putting this off then you’re very likely losing money that could have been yours if only you’d done things just a little bit differently.
9: Escaping the Digital Desert and Joining the Social Media Oasis
You might think of social media as the bustling town square of the digital age. Everyone’s there, chatting, sharing, and connecting. If your business isn’t there, are you even on the map?
Social media isn’t just about blasting your message into the void. It’s a two-way street, a chance to listen to your customers, respond to their feedback, and engage in real-time conversations. When you’re active on social media you’re where your customers are, communicating with them on their terms, and building relationships that go beyond sales pitches.
You don’t need to be on every platform, just the one or two where your prospects and customers are hanging out. This way you can do a proper job of interacting without spending your entire day on it.
10: Doubling Down on Affiliate Marketing
You’re not just selling your own products or services; you’re opening up a whole new revenue stream by promoting complementary offerings from trusted partners.
Your subscribers, readers and followers are going to purchase other products besides your own, so you may as well be the one to sell earn the affiliate commissions. Plus, it’s radically awesome that you have to do almost no customer service when it’s someone else’s product.
And that’s just the first side of affiliate marketing. Since you have your own products, you can also get a team of affiliates to promote your products, too. And unlike advertising, you only pay when someone actually buys something through your affiliates. It’s a pay-for-performance win-win, no upfront costs, just pure, sweet profit when your affiliates succeed.
Affiliate marketing is about leveraging smart partnerships and strategic reach to fuel your business growth. It’s a collaborative journey, a win-win for you, your affiliates, and most importantly, your customers.
11: Ditching Your Solo Act to Collaborate with Others
The thrill of brainstorming, sharing ideas, and seeing your vision come to life together can’t be beaten. That’s the magic of collaboration, and it’s alive and well in the world of marketing.
When you collaborate, you get fresh perspectives because two minds are better than one. Collaboration brings diverse viewpoints, sparking creativity and igniting innovation.
Plus, you can share resources, leading to bigger projects, bolder campaigns, and amplified reach. Think of it as combining your knowledge, audiences, and assets to build an epic product or campaign you couldn’t dream of creating on your own.
Partner with other businesses, influencers, or even your customers. Brainstorm, innovate, share, and watch your marketing ideas soar to new heights. Remember, alone we can do so little, together we can do so much, and in the marketing world, the sky’s the limit.
12: Acquire and Use Customer Feedback
Customer feedback should be your marketing religion, and here’s why: In a study they found that while 80% of companies thought they were delivering a superior experience to customers, only 8% of their customers agreed. EIGHT PERCENT!
That’s terrible.
Do you think you’re doing a smashing bang-up job of delivering the goods? Odds are you could do better.
Customer feedback is your roadmap to success. Think of it as a treasure map, guiding you towards improvements, opportunities, and ultimately, success. You’ll discover what customers love, what frustrates them, and what they crave but can’t find.
By listening closely, you can fine-tune your offerings, tailor your marketing, and create an experience that exceeds expectations, boosting customer satisfaction and loyalty.
13: Implement a Loyalty Program
Keeping existing customers happy is significantly cheaper than acquiring new ones, and loyal customers spend more, advocate for your brand, and offer valuable feedback. That’s where a well-designed loyalty program comes in – it’s a strategic tool to cultivate loyalty and boost customer retention.
Loyalty programs reward repeat patronage, making customers feel valued and incentivizing them to stick around. Think exclusive discounts, points that accumulate towards exciting rewards, or early access to new products – it’s all about keeping them engaged and coming back for more.
And it gets even better because the right loyalty program will increase customers spend, both in how much they spend on each purchase and how often they make those purchases.
You can also build stronger relationships with your customers by collecting data on customer preferences and purchase history to offer personalized rewards, send relevant updates, and tailor your offerings to their needs. Your customers turn into your advocates and brand ambassadors, spreading the word about your business through positive reviews, recommendations, and social media mentions.
Finally, with a loyalty program you stand apart from the crowd. Imagine you’re an online information marketer as well as an affiliate. When your customers want to purchase the latest offering from another marketer, your loyalty program will ensure they check to see if they can make the purchase through you to gain more rewards. How cool is that?
Loyalty programs are an investment, not a cost. The benefits far outweigh the initial setup and maintenance, leading to increased customer retention, higher spend, and ultimately, sustainable growth for your business.
14: Ditch the Lone Wolf Mentality and Start Networking
We’re not talking about the pyramid kind, or even the stale business card kind. Today’s networking is all about connecting with other businesses, influencers, and potential customers, to spread the word, build awareness, and become a name everyone remembers.
Each connection can be a doorway to new collaborations, partnerships, and even customers. You might discover the perfect supplier, land a dream deal, or gain access to a whole new market – all thanks to the magic of networking.
Networking can provide you with invaluable insights into industry trends, emerging technologies, and competitor strategies. It’s like having a network of spies whispering vital info in your ear, keeping you one step ahead of the pack.
Networking also allows you to build meaningful relationships, showcase your expertise, and earn the respect of your peers. With each positive interaction, your reputation grows, attracting new customers and solidifying your position as a reliable force in the market.
And don’t forget that networking is the first step to collaborations, joint ventures, and cross-promotions that will help you reach larger audiences, amplify your message, and make a bigger impact.
Step out of your comfort zone, reach out to potential allies, build genuine connections, share knowledge, and foster mutual growth. You can do this!
15: Outsource Talent and Expertise
Someone once said that running a small business is like juggling flaming chainsaws while riding a unicycle – impressive, but a one-person show only for the truly skilled.
While the solopreneur spirit is admirable, there comes a point where hiring help can propel your business to new heights, leaving you with less juggling and more strategic breathing room. While you might wear many hats, you can’t be an expert in everything. Outsourcing work to talented individuals lets you tap into specialized skills and knowledge you might lack, lightening your load while improving your business.
Bringing on talent frees you to focus on strategic planning and decision making. Plus, you can get some fresh perspectives and new ideas, as well as scalability for growth.
The expertise, fresh perspectives, and collaborative spirit that talented individuals bring can be the difference between growth and stagnation, or even success and total burnout. You’re not superhuman and you’re probably not an expert at every skill you need to make your business succeed. Outsourcing is just plain smart and an investment that will pay dividends.
16: Become a Master at Upselling and Cross-Selling
You need every trick in the book to optimize your sales and achieve profitability. Two powerful tools at your disposal are upselling and cross-selling, strategies that can significantly boost your average order value and customer satisfaction.
Upselling is like offering a VIP upgrade – it’s about convincing your customer to choose a higher-priced version of the same product. Maybe you’re offering premium features, bundling in extras or offering a limited time deal on a higher tier product.
The point is to upgrade that sale to a higher price point while giving the customer an outstanding reason for choosing to pay more.
Cross-selling is like suggesting the perfect dessert to go with the main course – it’s about recommending complementary products that enhance the customer’s purchase. These might be related items that pair well with the customer’s chosen item such as a copywriting course to go with the product creation course or a bag of organic fertilizer to go with the flower bulbs.
Upselling and cross-selling encourage customers to spend more per purchase, boosting your revenue without attracting new customers. By offering relevant upgrades and complementary products, you enhance the customer’s experience and make them feel like they’re getting the most value.
Upselling and cross-selling are not about using aggressive tactics. We’ve all seen the $10 product offer with a dozen upsells of $27 to $2000 and we know what a lousy experience that is. But one or two well placed, tightly focused upsells can be a welcome addition to the original offer and enhance your customer’s buying experience.
When you focus on providing genuine value, offering relevant suggestions, and making the customer feel like they’re making the right choice, you can’t go wrong with upselling and cross-selling. It’s a simple yet powerful way to unlock hidden revenue potential, strengthen customer relationships, and watch your business grow.
17: Build the List Bigger, Faster and Better
Did I save the most important for last? I think so.
If you’re not already list building, then maybe it’s high time you start. What’s been holding you back? Do you think email is intrusive? It’s not. No one lands on your list who didn’t ask to be there, and they can leave at any time. Do you think email is no longer effective? Email marketing boasts the highest return on investment of any (ANY!) marketing technique.
Done right, email marketing lets you enter your customers’ inboxes like a welcome friend, offering helpful resources, exclusive offers, and a chance to connect on a deeper level.
It’s not about spamming them with generic blasts, but about crafting relevant, personalized messages that pique their interest and add value to their day. Think thoughtful subject lines, engaging storytelling, and content that truly resonates with your audience’s needs and interests.
Remember, it’s not about the loudest voice, but the most relevant and authentic one. Be yourself. Write as you naturally write to a friend. You don’t need to be Hemmingway or Shakespeare – but you do need to be interesting, relevant, respectful and helpful.
If you haven’t yet started to build your email list, or if you’re not seeing the results you’d like to see, I’ve made you an email marketing cheat sheet that will hopefully help you supercharge your list growth and create a fanbase that sings your praises.
Unleashing Your List-Building Beast Cheat Sheet
Remember: Building an email list isn’t just about numbers; it’s about cultivating a community of engaged and happy subscribers.
Offer Irresistible Lead Magnets
Think of lead magnets as the VIP passes to your exclusive club. They need to be valuable, relevant, and solve a specific problem your target audience faces. Consider offering:
- Insider’s newsletters: Provide subscribers with exclusive content, industry news, and insights.
- Offer your very best e-books and guides: Packed with actionable insights and tips.
- Give free templates and tools: Make their lives easier with checklists, planners, cheat sheets, webinars, or design resources.
- Offer exclusive discounts and coupons: Offer a sweet deal they can’t refuse.
- Give early access to new products or content: Give them a taste of what’s to come.
- Focus on solving problems: Cater to your audience’s pain points and offer solutions they truly need.
- Highlight the benefits: Clearly communicate the value they’ll receive by subscribing.
Make Subscription Easy and Seamless
Don’t make them jump through hoops! Streamline the signup process with:
- Pop-up forms: Place these strategically on high-traffic pages.
- Embedded forms: These go within blog posts or landing pages.
- Use two-step opt-ins: Get more qualified leads.
- Mobile-friendly forms: These should be accessible on all devices.
- Clear CTAs: Use strong calls to action that entice visitors to subscribe.
Where to Get Subscribers
Anywhere you find your prospects is a good place to get them to join your list:
- High-quality blog content: Create informative, engaging, and valuable blog posts that naturally encourage subscriptions.
- Social media: Promote your lead magnets and content on social media platforms.
- Guest blogging: Reach new audiences by contributing to other blogs in your niche.
- Run contests and giveaways: Encourage subscriptions with the chance to win prizes.
- Offer referral programs: Reward existing subscribers for bringing in new ones.
- Host live events and webinars: Capture leads during registration and follow-up emails.
- Collaborate with other businesses: Cross-promote each other’s email lists.
- Offline marketing: Include signup forms on business cards, brochures, and event materials.
Content is King (and Queen!)
Don’t just send emails, create experiences! Focus on high-quality content that educates, entertains, and inspires. Consider:
- Regular newsletters with valuable insights and industry news.
- Curated content featuring interesting articles and resources.
- Behind-the-scenes glimpses into your brand and team.
- Personalization using subscriber data to tailor content and offers.
Nurture Your Subscribers
It’s not just about getting them on the list, it’s about keeping them engaged! Show them you appreciate them with:
- Welcome emails that set expectations and build excitement.
- Regular engagement emails with polls, quizzes, and interactive content.
- Birthday shoutouts and personalized offers.
- Segmentation for targeted content and promotions.
Remember, building a happy email list takes time and effort. Focus on providing value, building relationships, and creating a space where your subscribers feel heard and appreciated. Watch your list grow organically, with enthusiastic fans excited to hear from you!
Bonus Tip: Analyze your data! Track email metrics like open rates, click-throughs, and unsubscribes to see what works and what doesn’t. Continuously learn and adapt your strategies to optimize your list growth and subscriber happiness.
Happy list building!