What are the best things you've ever done to increase your revenue?

[Ravens_Shadow]

What is the best thing you've ever done to increase your businesses revenue (or profit if you read it that way)? For me it was a total pivot of our old product to something that fit the market much better. As for something actionable that anyone else can apply, focusing on individual customer experiences and live demos of our product dramatically increased our revenue.

 

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[WJK]

"businesses revenue" or business profit? I'm more into the later. Churning money is not my thing. Here's the biggest question. How much profit did you make after you pay for ALL of the expenses Then compared that profit to the required capital, time, and effort you put into generating that cash flow? Yes, you need sales volume, but more importantly, you need to make a reasonable profit.

 

[sparechange]

Giving out samples, filming community stuff content.. hmmm, watch out with giving away samples though. I've had tons of people want a free sample from me yet less than 1% are actually interested in my business movement, or even follow my YT/IG/FB channels. Funny stuff.. my favorite being when one person orders 300 units of a free sample.. had a few of those amazing people!

Pura Vida a bracelet company uses the give away free strategy, it can work if used properly. Think that company is worth a few hundred million now.

 

[Ravens_Shadow]

"businesses revenue" or business profit? I'm more into the later. Churning money is not my thing. Here's the biggest question. How much profit did you make after you pay for ALL of the expenses Then compared that profit to the required capital, time, and effort you put into generating that cash flow? Yes, you need sales volume, but more importantly, you need to make a reasonable profit.

If we keep our expenses the same, any extra revenue is extra profit.. semantics of the question matter of course. Our business is very profitable and I'm curious to know what others have done that we might not be doing.

 

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[WestCoast]

Taking care of our customers.

Probably not the response you were looking for, but over 15 years, there is nothing we did that more directly impacted our revenue and net income than that. Nothing.

 

[alexkuzmov]

"businesses revenue" or business profit? I'm more into the later. Churning money is not my thing. Here's the biggest question. How much profit did you make after you pay for ALL of the expenses Then compared that profit to the required capital, time, and effort you put into generating that cash flow? Yes, you need sales volume, but more importantly, you need to make a reasonable profit.

I like what you said.
Cost reduction is a big part of this IMO.
Obviously its not applicable to each an every business, however here is a real example of what I mean.

SaaS performance optimization.
Basically we spent and are still spending time optimizing the system so that the same server resource can handle a larger client base without any increase in costs which translates to increase in profit.

 

[WJK]

I like what you said.
Cost reduction is a big part of this IMO.
Obviously its not applicable to each an every business, however here is a real example of what I mean.

SaaS performance optimization.
Basically we spent and are still spending time optimizing the system so that the same server resource can handle a larger client base without any increase in costs which translates to increase in profit.

That's the kind of story I like to hear.

I'm really big on controlling my RE operating expenses -- especially the fixed expenses. This year I had a big win by negotiating on my trash removal for my mobile home park. It was costing me almost $1,000 per month for my 2 big dumpsters to be dumped 3 times a week. This fall, a new company came into the commercial trash removal business in my area. I got a bid from them. Then I went back to my current company that I've used for almost the last 22 years. They beat that bid by 7%. I'm saving about $3,000 per year just on that one bill on my new yearly contract. That's pure profit.

Since I'm providing low to moderate housing, I pay for electrical, natural gas, water, trash, and sewer waste services. So, to cut the heating costs for the units, we've replaced hundreds of drafty, single-pane windows throughout the rental units. We've also added insulation, caulking, and arctic entries whenever possible.

Then, on the other side, we have upped our income just about every year. There are a lot of ways to create that trend. We have relentlessly been rehabbing rental units, one after another. Our work serves two purposes. First, when finished, those rental units earn higher rents. I have almost no vacancy rate -- a huge saving and income booster. And then there's a hidden advantage. A lot of the work we do prevents us from having to do future maintenance work. We build preventative maintenance into every project. It is as simple as painting the subflooring to seal it. And as complex as replacing the entire plumbing system (with PEX & other upgrades) and upgrading the electrical system. Over my 22 years here, we've increased the income cash flow to about 7 times what it was when we started.

 

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[SPM_ENT]

I used to own a body shop and the best thing I did to increase the number of cars coming in was to increase my Yelp reviews. This is a pretty obvious thing to do in a local service-based business. However, I accomplished this by doing two things that will hopefully be applicable to any business.

1. I offered my office manager a bonus for every review she got. The bonus was large enough for her to make a significant amount of extra money every week so she was motivated. Overall, making sure employee's interests are aligned with the company's is something I always like to incorporate.

2. We made it extremely easy for clients to leave reviews and offered them a free "detail" or something small in return. We had an iPad set up in the lobby and my office manager would help them create an account if they needed to. She made sure they did it before they left. If they left the odds of them leaving a review went down drastically.

We went from 30 or so reviews to 150+ in about a year after starting this. We got waaay more stable and reliable business because at the time we had the most yelp reviews in the area. In addition, the added bonus was better clients. The clients already trusted us before they called and the repairs went a lot smoother.

 

[MJ DeMarco]

Never doubt a channel until you've tried it.

 

[Johnny boy]

#1 changed the business model to be more SCALABLE

#2 ran Facebook ads

 

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[Envision]

Hired People

 

[Guest1413tpa]

Tap into untapped marketing, and make it easier for the customer to buy.

 

[The-J]

Depends on the situation.

If revenue is good but we've hit a plateau: opening a new channel.

If revenue sucks: changing the offer.

 

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[rollerskates]

Switching products. I am very small potatoes in a business sense but my business income has been steady plus growing for about 18 months now and it's not going to be my long term thing but it's given me breathing room to work on other things which will be.

 

[Ing]

In the area of my job, where I m responsible for most management a of my Area:
Service combined with consequent 20/80.