Falling Back in Love with Your Business: A Seasonal Reawakening
October 1, 2023
Your Message Matters: Building Revenue and Making a Difference
December 1, 2023Blog
Boost Your Bottom Line: Your Business ATM
In the fast-paced world of business, entrepreneurs often look outside their organizations for new revenue sources and growth opportunities.
Many of the untapped treasures that can significantly boost your bottom line are right within your reach.
Your past clients, existing clients, business referral partners, cross promoters, past podcast guests or panelists, and past stages you've spoken on are all part of your "Business ATM."
Let’s explore the foundational elements of where your money remains. I will provide actionable strategies to re-engage these valuable contacts. We will explore how to create new revenue streams based on their feedback. And build your platinum referral program so you get warm referrals for life.
Reconnect with Your Past Clients
Your past clients are a goldmine of potential business.
They already know your value and have experienced your product or service.
Reach out to them to see if they have new needs. Offer loyalty discounts.
Ask for feedback to rekindle your relationship and drive repeat business…and referrals (more on this below!).
One marketing agency I worked with increased its revenue by 30% by launching a tailored "Welcome Back" campaign to past clients, offering exclusive discounts for returning customers.
Cultivate Relationships with Existing Clients
Your existing clients are often overlooked when seeking new opportunities.
Regular communication, personalized offers, and exceptional customer service can lead to upselling or cross-selling opportunities.
This ultimately boosts your revenue without acquiring new customers. And your customers will love you for solving their problems on the spot!
By actively engaging with their existing clients, a coaching company I worked with increased their annual revenue by 21%, with a substantial portion coming from upselling complementary products.
Leverage Your Business Referral Partners
Your network of business referral partners can be a steady source of leads and revenue.
Foster strong relationships with these partners.
Consider joint promotions or referral programs to generate more business.
Through collaboration with strategic partners, I expanded its customer base by 19% and increased revenue through shared marketing efforts.
Collaborate with Cross Promoters
Cross promoters are valuable allies in expanding your brand reach.
Explore cross-promotional opportunities where you both benefit from each other's audience and services, thus creating new income streams.
An influencer partnership helped coaches introduce their products to a new demographic, leading to a 33% revenue boost.
Tap into Past Podcast Guests and Panelists
Your podcast guests and panelists can become long-term advocates and clients.
Stay in touch. Provide value.
Offer exclusive opportunities for collaboration or purchase to convert these connections into revenue.
A company involved in the podcasting world reported a 15% revenue increase by involving past guests in exclusive webinars and product launches.
Monetize Past Speaking Engagements
The stages you've spoken on provide an excellent opportunity to monetize your expertise.
Offer follow-up webinars, courses, or consulting services to the attendees, leveraging your speaking engagements to generate income.
A motivational speaker used his speaking engagements as a launchpad for online courses, resulting in a six-figure revenue stream.
Implement a Platinum Referral Program
Establish a referral program that rewards loyal clients and partners for bringing in new business.
By offering incentives and making it easy for them to refer you, you can turn them into your most effective marketing channel.
A legal firm introduced a platinum referral program, which generated a 43% increase in warm referrals and a noticeable boost in revenue.
Remember, your Business ATM is not only about making money. It’s about nurturing and building lasting relationships.
Success stories like those mentioned here emphasize the potential that lies within your existing network.
Start unlocking the untapped revenue streams in your business.
Re-engage your contacts. Create new income sources.
Nurture the bonds that drive growth.
Need Some Support?
I get it. There’s a lot to unpack here.
This is really hard to do alone.
This is why I work with a coach. And this is why my clients hire me as a consultant.
When I work with companies and nonprofits as a consultant, I bring an objective, external voice to help you:
- Reach peak performance
- Find your profit leaks
- Turn shiny objects into revenue
- Build repeatable success processes
- Discover based on metrics where success lies
- Show you what you need to STOP doing
- Design a state of the art employee experience
- Create a customer experience that results in referrals and raving fans for life
If you’re ready to...
- Take BIG and bold action in your business
- Help your employees reach their full potential
- Grow as a business leader and commit to continuous learning
- Try things outside of your comfort zone
- Reach more dream clients
- Have more impact in your business, community and the world
- Build more revenue
- Improve your lead generation and sale process
- Invest in yourself and your business
