Thomas “AI Nerd” Helfrich | VP at System Soft Technologies | AI Innovation | Intelligent Automation Expert
The narrative of business is continuously evolving. After the events of last year, we no longer have business as usual. However, regardless of the twist in the story, the concept remains the same.
While your brand is charged with helping its customers solve pain points through its services on the front end, the main objective is still generating revenue on the back end. Identifying the challenges your target audience is having and providing a service to help solve them is only the first step.
Brands still want to ensure that they are meeting the needs of their customers. This is attained through the sales of its product or services. Sales are the central nervous system of your business, and sometimes a mix of the basics alongside some new technology is just the adjustment needed to grow.
Here are five ways your company can increase sales and generate more revenue:
1. Customer Relationships
“Establishing trust is better than any sales technique.” — Mike Puglia
Sales may be an important part of your business, but marketing is the door that leads to it. Your marketing is how your brand interacts with the public. Trust comes after this interaction because your audience tends to start trusting your product or service the more they interact with it.
Your marketing still plays a pivotal role in building customer relationships. The relationship still strengthens further when your audience uses your product and delivers on its promise to solve a problem.
To better build trust, make sure that your marketing tactics aren’t simply a ploy to make your customers buy your product. Closing deals are for your salespeople to tackle. Instead, your marketing should focus on being authentic, consistent and valuable.
Listen to your audience and join the conversation. Engage by addressing concerns with answers and solutions. Educate by providing insights that can make or change the industry — something that can inspire growth and innovation.
2. The Brand Experience
Every business is a function of the people that work in it. It isn’t the logo, brand tagline nor the name of the company; it’s the employees.
Employees are what make the brand walk, breathe and talk. The experience your employees have is the experience that spreads across your product or service.
When your employees are sold on your brand — and what it stands for — that infectious positive vibe becomes part of your product or service. Remember, happy brands result in comfortable customer service. As Doug Conant, CEO of Campbell’s Soup, said, “To win in the marketplace, you must first win in the workplace.”
To improve employee experience, go beyond the bare necessities. Take advantage of automation technology to free up non-essential tasks, helping your employees focus on the more meaningful aspects of their jobs. Flexible schedules, if applicable, can do wonders for workers that crave work-life balance.
Furthermore, instilling a growth mindset in your organization shows your employees that you care about their career goals. Finally, hone your social listening skills to develop a company culture that other organizations want to emulate.
3. Content Is King
Content is to your business what petrol is to a car. It’s the fuel that drives every business. Long gone are the days of direct marketing where a product or service is forced down a customer’s throat. All that has changed now as customers’ behavior evolves.
To effectively meet customers at the point of their need, they have to see your content. Content marketing as a strategy is about marketing your product or service to your target audience through information. It can be in the form of videos on YouTube, LinkedIn or Facebook. It could also be in the form of blog articles or social media posts. The goal of this as a strategy is to incite interest and curiosity in the reader’s mind.
The more consistent a brand is with its content marketing, the more leads they’re likely to generate organically. Your marketing team needs an instantly relevant content plan to elevate your brand and increase sales effectively.
4. Intelligent Automation
Most organizations think automation is an operations initiative, but that isn’t the entire story. Leveraging intelligent automation will free up resources (both human and capital) and allow an organization to invest in higher-value activities such as sales, customer experience or innovation.
Another application of automation is discovering what your customers want. This can be accomplished from sentiment analysis of unstructured data (blogs, comments, social media interactions, Twitter feeds, etc.). Additionally, automating data collection and analysis helps a company focus on what’s most important.
A pro tip: Intelligent automation initiatives should be designed to make humans more intelligent, capable and focused on the customer. Concentrating on the customer leads to revenue and growth. Focus only on cost savings, and you will miss the true power and benefits of leveraging intelligent automation technology.
5. Customer Retention
Satisfied customers are guaranteed to come back for your product or services. Who wouldn’t want that? The happier the customer, the more they buy your brand, which ultimately leads to more revenue.
Sales go beyond the actual selling. It also includes the activities that follow after the sales.
Establish a customer retention plan and ensure that it’s well executed. It doesn’t have to be an over-the-roof plan. Simple and out-of-the-box can effectively achieve the desired result.
It could be as simple as calling, texting or sending them a postcard on their birthday or wedding anniversary. It could be writing them a handwritten “Thank you” note once in a while after purchase. It could be following up with a call. All of these strategies strengthen the customer-brand relationship.
One Last Bite
Generating revenue doesn’t have to be about overhauling a system already in place. Sometimes, all it takes is just a change in strategy to meet your customers at that point where your product is the solution they need. Sometimes, that’s all it takes for the revenue gates to open.