How To Increase Revenue: 10 Ways To Make More Money In Your Business

How To Increase Revenue: 10 Ways To Make More Money In Your Business

You’ve always wanted to own a business. It was a dream from early on in life. You had visions of making it and taking care of the ones you love. But something happened along the way. You faltered. Hesitated. Made some bad money moves. And the business that was once a dream is now your worst nightmare. The truth? You feel stuck. Trapped. Unable to come up for air. You’re drowning in a sea of debt and bills and it’s destroying your enthusiasm for life.

I get it. It happens. Most businesses fail. And it doesn’t take long. So if you’re struggling to increase the revenue of your business, you’re not alone. It’s something that many entrepreneurs battle with. But the beauty is this—there is an answer to your business revenue problems. It won’t happen at the snap of a finger, but there is a way forward. And that way is called a sales funnel.

Look, what most business owners overlook is not the product creation or doing the heavy work that’s required to build a business. The only thing that separates a successful business from one that’s failing is simply a lack of information. There’s a knowledge gap. If you’ve ever looked at a business owner who is absolutely crushing it and wondered what they have that you don’t, it’s not some magic wand. It’s just marketing.

How To Increase Your Business Revenue

Marketing and sales are two different things. You could be great at sales but terrible at marketing, or vice versa. But you do need both. And where most business owners experience a disconnect is not in the hustle and grind. It’s not in the lack of desire to see things through. It’s in the marketing piece. Not in sales. You’re probably great at selling. I’m sure you are. But you and I both know that the piece you’re struggling with is marketing.

Marketing trumps everything in business. Even product creation. If you have five dollars to build a business four of those dollars should be spent on marketing and one dollar on everything else. Sadly, it doesn’t usually go that way. And because entrepreneurs lack the marketing knowledge they need, they spend most of their time and money on product creation, sales, websites, logos, and everything else that doesn’t matter early on.

So if you want to increase the income of your business, there is a way forward. Yes, it’s marketing. And the foundation of that marketing is called a sales funnel. Everything you do in your business to generate income must revolve around using sales funnels. That includes getting leads, converting those leads into sales and getting your customers to spend more money. Period. Everything else is secondary.

How Do Sales Funnels Increase Revenue?

You’re sick of door-knocking, cold calling, direct messaging, and the constant outreach it takes to try to make a sale, right? It’s tiring hunting down prospects and hounding them just so you can keep the lights on in your business. But that’s not the answer to your revenue problems. If you want to increase your revenue you need to attract leads and convert them on autopilot. And to do that you need a simple sales funnel.

There are sales funnels for every single scenario. Every one of them. It doesn’t matter if you’re generating leads, converting those leads into sales, or getting existing customers to buy higher-priced products and services, your answer is a sales funnel. Eighty percent of your time should be spent building, tweaking and scaling a funnel so that you can increase your revenue and finally stop worrying all the time.

The reason why sales funnels work so well to increase revenue is this. They rely on basic psychological levers that get people to take action. People don’t buy from faceless companies. They buy from people they know, like and trust. And sales funnels help build that rapport to make the sale. Instead of chasing down prospects, they’ll be beating down your door. Imagine that for a moment.

1—Generate More Leads

One way to increase revenue in your business is simply to get more leads. Leads are not only vital to survive in your business, but also to thrive. If your business is not thriving, it’s because you’re spending most of your time chasing leads. It shouldn’t work that way. The opposite should be true—people should be banging down your door to get access to you.

So how do you generate more leads? First, you must understand who your target market is. Your ability to speak directly to your market and address their problem is important. But most business owners do this because they’re so busy just trying to keep their heads above water. You know that feeling, right? It’s understandable but you must be willing to take a step back and look at this from a birds-eye-view.

The first step is to build a squeeze page that creates curiosity with a hook that reels them in. A squeeze page is just a landing page designed to generate leads. Every single marketing piece you do—from ads to landing pages and beyond—should use the hook-story-offer framework.

The next step here is to create a valuable lead magnet. If you already have a lead magnet, make another one that delivers more value. The lead magnet should be so valuable that you question whether to give it away for free. You fight your inner instincts to sell that lead magnet. Why? Because as soon as your prospects consume something free that’s more valuable than what others charge, everything changes.

2—Optimize Paid Ads

Your lead generation funnel is important. That’s the piece with the squeeze page and lead magnet designed to get prospects to raise their hands. But you also need to get someone’s attention in a noisy world. To do that we run ads. But ads are expensive, right? Unless you’re an expert in this area, you could spin your wheels for months or even years, and still lose money.

To increase the revenue of your business you need better ads. Today, ads must stop prospects from scrolling. These scroll-stopping ads need to first get a prospect’s attention and then hold it for long enough to capture their awareness. This is easier said than done. We see so many ads today that we’re used to just scrolling past them.

Your ads should also use the hook-story-offer framework. Hooks are vital because they create curiosity and grab attention. But it’s not just the hook. Once you’ve hooked a prospect, you need to share a story with them. In ads, it must be brief. Either it’s well-written copy, or it’s shared in a video in the ad. And once you share the story, you make them a great offer.

Paid ads work better when you take an omnichannel approach. Meaning that you’re visible everywhere all the time. That means posting consistently on social media platforms. The more you post the more people will see you organically. And the more you post, the more likely someone will be to click on your ad when they see it.

3—Secure Higher-Quality Leads

Leads and ads are great as long as you’re reaching the right people who have the money to buy whatever it is that you’re selling. But that’s not always the case. Sometimes you secure low-quality leads that simply don’t buy. That usually means something is off. So a very good way to increase the quality of your leads, which often leads to more revenue—is to adjust your approach on your landing page.

There are many different landing page types. The typical squeeze page works great to secure leads as long as you create curiosity and give them a valuable lead magnet. But other landing page types may work better to secure higher-quality leads. Reverse squeeze pages provide the value upfront instead of first asking for contact details.

This flips the script on lead generation. You give all the value upfront. And only then do you ask for the prospect’s contact details. This leads to lower overall conversions but higher-quality leads. If you’re in an industry that sells high-ticket products or services, this is worth trying out. That way you can avoid the freebie seekers who never take action beyond downloading the free lead magnet.

Higher-quality leads can make a huge difference in your business. Not only does it lead to an increase in revenue, it leads to higher quality and more qualified leads. This is important in every business across the board. It doesn’t matter what industry you’re in. But if you’re a life insurance agent, mortgage broker, real estate agent, coach, or anyone else selling high-ticket, this could be your best approach.

4—Increase Lead Engagement

Stories have woven society together across the fabric of time. But most people don’t use stories when they sell. That leads to a drop in revenue because prospects can’t get to know, like or trust you without using the power of story. Stories allow you to share experiences that build rapport with the prospect who’s likely where you were years ago before you started on your business journey.

Story selling is the concept of sharing stories that move the needle to build that bridge of trust between yourself and the prospect. Stories also help to shatter false beliefs because all people have stories they tell themselves. Those stories might conflict with what you’re selling. Either they’ve had experience with a similar product or service that didn’t work out, they don’t believe they’re capable of making it work, or they don’t believe they have the time or the money or some other external thing that will get in their way.

Stories allow you to shift the beliefs of a person beyond just building trust. However, stories must be engaging and told the right way to spur sales. That’s why you have to send out 5 to 10 valuable emails to leads to increase their engagement with you before you ever attempt to sell them anything. This makes you far more likable.

The email sequence is an important part of conversions. That’s because emails offer the highest return on investment of any marketing channel. If you’re not communicating with your prospects using stories, read this post about how to do it the right way. If you haven’t already done so, read this book that goes deeper into precisely how to structure your emails.

5—Optimize Lead Conversions

Another way to increase revenue is to optimize lead conversions. This means doing more than just engaging the leads. To optimize lead conversions you need a multi-pronged approach with way more touchpoints. Meaning that you need to be in front of the prospect wherever they go. That could be through social media posts, YouTube videos, and a better lead magnet that addresses the core problem in more detail.

To optimize lead conversions you have to take a step back from the sales funnel and look at all the touchpoints.

  • Are you communicating with leads by sharing stories?
  • Are you addressing the problem or pain points?
  • Are you retargeting those prospects across different touchpoints?
  • Are you using urgency and scarcity to convert leads faster?
  • Are you providing clear calls to action?

There are so many elements of lead conversions that it can seem overwhelming. Understanding them all can feel like a full-time job. But it’s not. At the heart of all this is the understanding that you’re here to help them and that you were once where they are right now. That’s an important distinction to make. Show up to serve instead of solely for their money and watch your conversions skyrocket.

6—Acquire More Customers

One of the golden rules to making more money in business is simply to acquire more customers. That’s pretty clear. But how do you acquire more customers without going broke? Since ad costs are high, you’ll need an effective sales funnel. If you don’t have that, this is the first step in the marketing journey for you. If you do have a funnel and are just struggling to get more eyeballs on it, here’s what you should do.

The first step is to approach affiliates. If you don’t have an affiliate program, create one. One affiliate with a large audience can transform your business. You can also use the Dream 100 approach here. List out the top 100 people you want to work with and make it your mission to get in touch with them. This could be affiliates, partnerships, media sites, and so on.

Next, analyze your offer. Is it irresistible? Does it provide so much value that it’s impossible to pass up? Because that’s how it should be. If you don’t have a great offer, you’ll struggle to increase revenue in your business. Everything begins and ends at your offer. All your marketing is amplified or diminished by the quality of your offer.

Finally, look at the psychological levers. Are you using authentic urgency and scarcity in your marketing? Many people fail to do this. But here’s the truth. Sometimes people need a reason to act and won’t simply act on their own without a nudge. Urgency and scarcity are two of the most powerful psychological levers behind reciprocity.

7—Spend Less To Get Customers

Another way to increase revenue is to increase visibility. The more prospects are aware of you the more likely they will buy. It all starts with getting those hungry eyeballs on your content and your offers. To do that, you need organic marketing through channels like search engine optimization and social media marketing.

Search engine optimization is the art of getting highly relevant visitors to show up organically. That happens when Google deems you important for a certain search. That isn’t easy to do. It takes time and you can easily destroy your search ranking by making major mistakes. If you don’t know what you’re doing and can afford to hire someone, that’s the best approach.

You can also use social media platforms like TikTok, Instagram and even YouTube Shorts to quickly increase your company’s revenue without spending too much money. This gives you those hungry eyeballs. There’s a great website that converts your YouTube videos into short clips you can post on social media using AI called Opus Clips.

8—Get Customers To Spend More Money

Most people are afraid to increase their prices. They think that if they increase their prices no one will buy or they’ll lose all their customers. That’s not true. A higher-priced product or service is often perceived as providing higher value. It’s not good to race to the bottom in price because only one company can win in that game.

Instead, when you have a higher price, you can ensure you provide more value. The more valuable an offer, the happier the customers will be. In turn, the more likely they’ll tell others about it. That leads to more revenue in the long term. Don’t be afraid to charge your customers more even for the same product or service you’ve been selling for years.

Another way is to get customers to spend more money is to offer them more valuable products or services. If you sell something for $500, then sell something for $5,000. Or if you sell something for $5,000, then sell something else for $50,000. Simply increase the level of value that you’re providing or the level of problem-solving you’re delivering.

Another way to get customers to spend more is to use upsells and down-sells in your sales funnels. Upsells are simply offers that appear during the purchase process. Customers are more likely to take an upsell during the act of buying because they’ve already agreed to buy something else. You can also ascend customers into different funnels to get them to spend more.

9—Get People To Buy More Often

Another way to increase revenue is to get customers to buy more often. You can do this by implementing a subscription model into your business. Subscriptions can be anything from newsletters to group coaching, software, consumables that are replenished monthly, and so on. This gets people spending more with you so that you don’t have to worry about always trying to keep the lights on.

Other ways to get people to buy more often is to ensure you’re in contact with them. Make more offers and communicate valuable messages often. You don’t need to do it daily, but when you’re out of sight you’re out of mind so stay visible. You can use your existing email list, social media channels and other avenues to get in front of existing customers.

You can also segment customers and use retargeting to get higher-value offers in front of them. Post often on social media and give people more things to buy that deliver more value. Think of other problems you can solve for the prospect and create new offerings that help to solve those problems. These are just some of the ways you can get people to buy more often.

10—Turn Customers Into Raving Super Fans

Last but certainly not least is to turn customers into raving super fans. How? Go above and beyond for them. Make sure that you reverse all of their risk, follow up, be authentic and deliver a great experience again and again. Everyone knows it’s more expensive to find new customers rather than keep the existing ones. But not enough people invest in the relationships with their existing customers.

But not you. I know you’re different. I know you’ll go above and beyond for your customers to turn them into raving super fans. And why shouldn’t you? After all, it will help increase revenue. That’s for certain. Will it be a lot of work? Yes. You can count on that. But it will definitely be worth it. Because once your customers are raving super fans, you’ve created an army of free salespeople.

Think about Tesla for a moment. Tesla vehicles are so wildly good that the company hasn’t advertised. They rely on creating an excellent product and experience, and the customers do all of the rest. This also creates a lot of loyalty among customers. They would far rather stick with you than ever go with the alternative.

Leave a comment

Your email address will not be published. Required fields are marked *