How To Increase Revenue With Marketing

One of the main goals of any business (if not the main goal) is to drive revenue. And not just to drive it — to maximize it. Of course, that leaves the question of how you do that. And there are multiple answers — one answer is to offer high-quality products or services, and another is to budget correctly.

But one of the most important ways to drive revenue is to optimize your digital marketing. You might already have heard that, but maybe it only left you with more questions — specifically, the question of how to increase revenue with marketing.

That’s the question we’ll be answering on this page. We’ll look at eight different pro revenue marketing strategies you can use to boost your overall revenue strategy, including:

1. Expand your reach
2. Retarget customers
3. Expand your marketing channels
4. Reoptimize your pricing strategy
5. Offer sales and discounts
6. Personalize your marketing efforts
7. Conduct customer surveys
8. Analyze your data

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1. Expand your reach

One of the most effective ways to earn more revenue is to simply market to more people. If you’re not earning as much as you’d like, part of the issue could be that you’ve limited your range too much. You can try expanding to target new demographics or geographic locations.

Of course, don’t expand your audience haphazardly. You should base your audience targeting on hard data. Look at your existing customer base to see if there are any demographics or locations you might be missing with your marketing. If so, create some campaigns to target them.

2. Retarget customers

Expanding your audience can help you gain a larger number of new customers, but there’s also a lot of value in marketing to existing or former customers.

Those customers are already familiar with your business, and they’ve bought from you at least once, increasing the odds that they’ll do so again. Basically, it’s easier to convert existing customers than new ones. That allows you to streamline your marketing efforts, earning more revenue from fewer (and shorter) campaigns.

Of course, exactly how you go about this depends on your industry. If you sell flat screen TVs — something people probably don’t buy on a repeat basis — this strategy won’t work as well. On the other hand, if you offer a subscription service, all you have to do is convince existing clients to stay subscribed.

3. Expand your marketing channels

One mistake many businesses make with their revenue strategy is that they market on too few channels. It’s ideal to use a variety of digital marketing strategies together. That’s not to say you should bite off more than you can chew, of course. But marketing on at least a few different channels is a great way to increase revenue.

So, which channels should you market on? Well, in addition to optimizing your website to rank in organic search results, you should try channels like:

• Paid search advertising
• Display advertising on third-party websites
• Email marketing
• Social media marketing

The more channels you market on, the larger your audience will become, and the more revenue you’ll drive. This is often a more effective way of increasing revenue through marketing than simply targeting new demographics.

4. Reoptimize your pricing strategy

Sometimes, your pricing is the reason your revenue isn’t high enough. If people are discouraged by the cost of your products or services, maybe rethink how you present that cost. For example, if you offer payment plan options, maybe frame it as “X payments of $Y” instead of just listing the total price as one giant number.

If you provide a subscription service, meanwhile, you could consider emphasizing the value your customers get for the price. For instance, you might provide a table breaking down all of the specific deliverables included in the total price. You could also use comparison tables to show the difference between your pricing and that of more expensive competitors.

Another option is to offer free shipping and see if that encourages more sales. If all else fails, though, there’s always the possibility your offerings are simply too expensive, in which case you may have to change the pricing itself.

5. Offer sales and discounts

Even if you don’t choose to revitalize your long-term pricing strategy, you can still lower prices on a short-term basis. Offering sales, discounts, coupons, and so on is one of the best revenue marketing strategies, which is why so many businesses tend to do it.

It’s up to you how frequent or extensive these sales and discounts are. However, one thing you definitely want to do is promote them. A sale won’t do much if nobody knows it’s happening in the first place. Use your website, social media, and email marketing to let your customers know that your offerings are on sale.

6. Personalize your marketing efforts

Another great way of increasing revenue through marketing is personalization. Put yourself in a customer’s shoes for a moment. Imagine you get two emails from two different businesses. The first one addresses you by name and promotes products based on your personal interests. The other is a generic email that could be intended for anyone.

Which one will impact you more? Probably the first one. Personalized marketing is better at engaging users’ interest, making them more likely to convert. One of the best ways to increase personalization is to segment your audience into different groups based on their location, behavior on your site, and so on.

Then you simply create different marketing campaigns that are targeted to different groups. That allows you to make those campaigns more specific, as opposed to trying to make marketing materials that cater to your entire audience equally.

7. Conduct customer surveys

If you want to know how to increase revenue with marketing, you need to understand your audience. One of the best ways to learn more about them is to simply ask them for information. You can do that through customer surveys, which you can send out through channels like email.

There are different types of surveys you can send out. You can ask your audience about their experience with your website, their opinion of your products or services, and how likely they are to recommend your business to a friend. Those are just a few examples. 

All of these questions, however, give you more insight into your audience’s interests and opinions, making it easier to market to them effectively and drive more sales and revenue.

8. Analyze your data

Finally, your revenue strategy won’t be very successful unless you monitor it and learn from it as you go. You’ll want to track data related to how customers behave, which marketing channels are the most successful, which offerings are the most popular, and so on.

When you analyze this data, you’ll be able to see which areas of your marketing strategy are working well, and which ones need to be reoptimized. You can then improve your campaigns based on what you learn.

By continuing to do this over time, you’ll make your marketing strategy more and more effective at driving sales, which will lead to much more revenue in the long term.

Let WebFX propel your company’s revenue with digital marketing

Even when you follow all the tips on this list, increasing revenue through marketing efforts can be difficult and time-consuming. That’s why so many businesses opt to partner with a professional marketing agency to help them optimize their campaigns.

If that’s something you’re interested in doing, look no further than WebFX. We’ve been driving top-of-the-line marketing results for our clients for over 29 years, and we specialize in using revenue marketing to boost our clients’ return on investment (ROI).

Interested in partnering with us for our revenue marketing services? Just give us a call at 888-601-5359 or contact us online today!