Most startup and small business owners are working with limited cash flow. This means that they have to use everything at their disposal to get the most out of their marketing spend and increase revenue over time.
When it comes to increasing business revenue, not all marketing tactics are created equal. Certain advanced digital marketing strategies that are used by professionals across the industry are more effective for helping businesses boost their bottom line.
It’s important to note that there are a seemingly endless amount of digital marketing tactics that you can use for business growth. But for this post, we have chosen to focus on some of the tactics that professional marketers use to help small business owners increase revenue streams. These are more focused and advanced strategies but are by no means the only tactics that you can use to help boost your sales and profitability over time.
Whether you’re focused on marketing a product, a series of product groups, or services of any kind, here are 20 ideas to stimulate your own thoughts for generating more revenue:
So, let’s get started…
1. Sell a product one-by-one.
2. Sell similar products packaged together.
3. Sell a “license” to use your product for a defined time period.
4. Sell a “subscription” to your product for a defined time period.
5. Sell a flat weekly- or monthly-fee service.
6. Sell relevant advertising space on your products, in your catalogs, or on your company vehicles.
7. Sell digital information for download.
8. Sell products one-by-one, but on an automatic replenishment schedule.
9. Sell some or all items on a minimum-purchase basis.
10. Sell discounts to others’ products or services.
11. Package your products or services with another company’s similar offerings.
12. Sell someone else’s stuff.
13. Sell refurbished or used versions of your products and services.
14. Allow others to resell or co-market your products and services.
15. Sell a disposable version of one of your products.
16. Lease your product(s) for a defined time period.
17. Sell time: bill by-the-hour for a service related to the products you sell.
18. Sell your products in smaller packaged quantities (if typically 15/per…, sell 10/per at a higher profit margin).
19. Sell your products in larger packaged quantities.
20. Sell your products on your website.