Revenue growth is a major goal of most businesses, but it’s easier said than done. There’s plenty of advice out there for small business owners on how to grow business revenue, but we wanted to ask the real experts — business owners who have been there, done that and actually boosted their revenue. Here are some real-life growth hacking tips that brought revenue success for these business owners.
1. Calvin Tran, Founder and CEO of Hype Well
Hype Well is a social media agency based in Los Angeles, California. In five years, Hype Well has grown into a multi-million-dollar organization with more than $20 million in contracts, 1,000 clients and 50 employees. According to Tran, his biggest secret to success is keeping customers coming back for more. Here are some of Tran’s tips.
Set Expectations Early and Often: Meet Them and Work to Beat Them
If you don’t set expectations and communicate them clearly, customers can easily become upset, and rightfully so. To ensure expectations are met (or even better, exceeded), it’s essential to make sure the customer understands what is possible and when. And it’s key to communicate progress toward mutually agreed-upon goals.
Provide Consistent Customer Service and Experience
Consistency builds trust with customers. They know what to expect and can rely on you to deliver the results they need. Without this, interactions are a surprise, and nobody really likes surprises in a business setting. Efforts to build consistency can include:
- Building out processes for onboarding new customers and for ongoing client meetings
- Making your web assets and social media channels consistent, so customers can get the help they need in more than one place
- Planning a schedule for future check-ins and milestones, so you’re both mapping to the same goals and shared responsibilities
Communicate Stellar Results on an Ongoing Basis
Customers are more likely to continue purchasing from you if your product or service is delivering results and ROI. That means you need a good system for tracking and reporting on the metrics that really matter to your customers, which should relate to the goals you have established together. Be transparent about the results you’ve seen, where you see opportunities for improvement and what you will work on in the following period.
Construct a Roadmap for a Long Future Relationship
Managing customer relationships, in many cases, can be compared to dating. At some point, one person in the relationship wants to know that this is “going somewhere” and that there’s a plan for the future. This can also be applied to business relationships.
Be sure to create and revise (on a regular basis) a relationship roadmap. Build in steps for new milestones and goals. You and your customer should be excited about both the today and tomorrow of your relationship.
Texas-based Kettlebell Kings specializes in selling kettlebells. The company has more than doubled revenue and order totals each year since they started in 2013, and it’s on track to hit around $4 million in revenue this year. Perkins believes in starting with a great product and then moving forward from there. Here are a few of his tips.
Focus on Creating a Good Product
We sell kettlebells, which are essentially balls of weight with a handle that people use for working out. We worked with experts in the niche of kettlebell lifting to constantly get feedback on our models and see how we could make them better. Then, we used those features in advertising.
Market in Every Channel You Can
Use all the channels you can for your marketing — including paid ads on search engines, social media channels, native advertising, social influencers, content advertising and more.
Get the Experts on Your Side
Our focus from the beginning has been to work with experts in our niche and come to be seen as content experts ourselves. We don’t just sell kettlebells — we also give our community tons of content on how to use them, new workouts, new techniques and more. This is all easily shareable content, so people tag their friends and gym buddies on the content.
Maximize Social Media
In addition to organic social media, we also use paid content ads for our shareable content. Social media advertising is so granular in who you can target with content — we’re able to market directly to our niche and give them reasons to sign up for our mailing list of kettlebell workout content. Using this strategy has helped us grow our email marketing list quite a bit over the last few years, and it helps us generate six-figure weekends when we run sales occasionally. Generating big-number sales like that certainly goes a long way in helping grow revenue each year.
3. Jason Patel, Founder of Transizion
Transizion is a Washington, D.C.-based college prep company that donates a portion of profits to low-income students and veterans who need college prep and career development assistance. Transizion’s revenue grew by 200 percent in 2016-2017 and has grown around 300 percent so far this year. For Patel, it’s crucial to find ways to grow that have long-term potential and are scalable. Here are some of his methods.
Invest in Content Marketing and SEO
Attracting and engaging with visitors from Google is a great way to pick up new customers and expand your brand. Purchase a subscription to Ahrefs, SEMrush or KWFinder. Research keywords in your niche, analyze buyer intent and monitor what your competitors are posting. Use this information to create detailed articles and guides that readers in your niche are looking for.
Be sure to capture visitor emails; then send them ebooks and weekly newsletters. The goal is to establish a trust-building channel with your prospective customers.
Test Processes, and Scale If They Work
You need a database and established steps for onboarding, offboarding, posting articles, customer prospecting and the like. To create one, test your processes and keep track of pros and cons and successes and failures. Integrate the pros and successes and continue to iterate. This way, if you lose a member of your team, the next person to take up the role can hit the ground running and continue the process.
Always Provide Value
Businesspeople get too caught up in their own stories and work that they forget about the most important people — their customers. Don’t talk about your product’s features; talk about how your product will solve their problems and benefit them. Anytime you add a feature, ask, “Will this enhance my customers’ experience?”
In the same vein, your content needs to focus on customer intent. Why do people visit your page, and what problem of theirs are you solving? For example, we have a detailed list of essay guides and how-tos for college applications, because we know our prospective customers come to our site looking for this advice. Never write a post just because you feel like typing and thought of a good topic people should be interested in. Rather, perform keyword research and find out why people search for certain terms. Once you know, create content around it.
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