How to increase revenue?

There are several ways to increase your business revenue, either by adding to your customer base or by increasing your sales. We will present some strategies and techniques that can greatly help in this process, such as cross-sell, upsell, and down-sell.

Get qualified customers

The first step is to know your audience, so create a profile and focus on them. Segmenting your customers is fundamental, in addition, to precede the success of all the techniques that will be shown later, it will also be of great help for the internal sectors of your company (marketing, sales, and support) since this way they will be able to work more assertively.

Cross-sell

The first technique that we will present is “cross-selling”, which is a strategy based on offering updates or complements to the product initially sold. A great example of this strategy: a customer buys a cell phone but says he would like to make its battery last longer, so you can take advantage of it and offer a power bank. In the end, the battery problem is solved, and the business profits more from the same person.

Upsell

It is essential to differentiate the technique as mentioned earlier (cross-sell) from upsell. Here, we offer the same product, but in “updated” versions. This technique is widely used in technology companies, for example, we have new smartphone models being released all the time, but always with new functions being added, with better cameras, more storage, etc.

Down-sell

This is a strategy used when the customer is about to give up on buying or hiring a company. It consists of offering a discount for the maintenance of this consumer. We see a lot of down-sell being used by internet providers and telephone companies, usually, when we are about to go to the competition, they come and make a better offer.

Conclusion

It is important to point out that there is no magic formula to increase your earnings, it takes a lot of internal organization and knowledge of your business, but the content presented will help you in this.

There are other ways to earn more, and we can address them in the future, so follow Partenero on social media and take the opportunity to subscribe to the newsletter here on the blog, so you will receive all our content!