Businesses and entrepreneurs alike need to be creative in order to grow their revenue. You can find innovative strategies for your company by considering new markets, different products and even new services. Depending on the business and the industry, here are 6 ways that you can consider for growing your revenue in 2022.
1. Adding Omni-Channel marketing/creative and Web services.
Omni-channel marketing and creative services is a relatively new term. It means that all the marketing and creative work you do should be done in an omni-channel way. Its about the repetition of message across channels such as print, websites, social media, email, and so on. The idea is that when people interact with your content or advertising on one of these channels, they should then feel compelled to interact with your brand.
2. Leasing out the physical plant or equipment that is underutilized.
Leasing un-used space is not new but often overlooked. Most companies have outdated equipment or unused floor space that can turn into revenue for the company to offset new expenses due to rising inflation we are not experiencing. It’s pretty painless and easy money.
3. Recurring revenue items like direct mail, catalogs, magazines, etc.
Items like direct mail, catalogs, and magazines tend to provide predictable and recurring revenue for months or years into the future. Sure, might be a bit more work to sell or set up but the ‘set it and forget it’ revenue makes it a breeze in the proceeding months. Recurring revenue streams also increase company valuation when it comes time to sell. Spend the time and check out the competitors doing this. If you already have the infrastructure to support these items it’s time to create the sales team to further monetize them.
4. Open an online storefront of easy-to-order print specialty items.
In the next few years, there will be a huge demand for one-stop shops that can provide high-quality products and quick turnaround times. In addition to providing the products, you need to make sure your customer service is top notch. If your customer service is not at the level of a traditional brick and mortar store, your online business will not reach its full potential.
Nowadays it’s possible to open an online storefront of easy to order print specialty items. You don’t have to create the product yourself, just order it from a manufacturer and then sell it in your store. This could be anything from stickers and posters to clothing or decals. The best part about this is that these items are often much cheaper than what you would find at a traditional store because they’re sold in bulk
5. Create a local monthly mailer/ads booklet.
A monthly mailer/ads booklet is a great way to grow your revenue. This is because people are more likely to take action on an ad when it’s in their mailbox, rather than on the internet.
People are getting into the habit of not opening mail that they receive through the mail. According to USPS, this year, less than 45% of households will get their mail delivered to their door.
This leaves many opportunities for you to get your message across. We’re also seeing an increase in businesses requesting monthly ads from local small businesses which is helping to drive revenue generation for these smaller firms. But this requires a lot of time and effort, so it might be better suited for larger businesses or companies with teams dedicated exclusively towards marketing or advertising.
6. Use Employment Marketing.
With the unemployment rate remaining low, more companies are facing talent shortages. This is especially true in the tech industry, where companies need to compete with Google or Facebook for top talent.
This systematic approach includes targeting high-potential candidates, maintaining a consistent presence on social media networks, and having an effective employee referral program in place.
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