Double Your Revenue & Grab Market Share from Competitors
If your cash flow is tight then increasing your leads and sales is are vital activities to strategize and execute. Here are three specific strategies that you will need to develop so that you can double your revenue, as well as grab significant market share from competitors.
The vast majority of your competitors are not ambitiously planning how to double their market share this year. Most business people are complacent and will conduct the same activities, at the similar levels, as they performed in previous years.
Three Actions Which Will Double Your Sales
ONE: Double Your Marketing Mix. Any business is conducting a finite number of marketing actions. When coaching a typical realtor, for example, I would discover that he or she is already getting prospects from a few actions, such as:
- Attend local networking events
- Purchasing leads and calling them
- Sending out monthly emails
This represents only four actions within his or her marketing mix. To double their marketing mix, it could look like this:
- Ask for more referrals.
- Attend more networking events.
- Purchase more leads and call all of them.
- Send out better emails, every two weeks versus every month.
- Run Facebook ads to your local area.
- Run Instagram ads to your local area.
- Run YouTube ads to their local area
- Automate your Yelp, Facebook, and Google Reviews with software.
In the above example, we have expanded the pre-existing marketing mix, but we have also added three additional marketing actions into the mix. Of course, this realtor will need to double their marketing budget. If one’s existing marketing budget is $7500 a month, then stretching it to $1,500 a month would cover enough ads within Facebook, YouTube and Instagram, as well as leverage software to manage your online reviews in a more efficient fashion.
TWO: Double Your Leads Generated. A typical realtor will generate about four to eight new, solid leads per month [unless they are purchasing them or running their own Facebook ads]. If one doubles their marketing mix and now begins to tighten up the analytics, to see what is proving to be effective or not, then the leads will soon double.
THREE: Become A Better Closer. Generating more leads will most likely increase sales all on it’s own right. But, this is not assured. By putting some time into sales training, listening to podcasts, watching YouTube videos from sales masters, etc., you will begin to close an even higher percentage of those leads. Unfortunately, this is a tough request as many seaso