Use special offers

The ability to boost revenue in a short period of time is any entrepreneur’s dream — it can help with a number of things: bolstering sales, improving cash flow, and helping to hit those quarterly targets to ensure healthy growth. While there is no single blanket statement I can make about how to boost revenues in a short period of time, I can say that strategies and tactics to do so vary greatly by industry and business model. For instance, in a software-as-a-service (SaaS) model, you may offer a month or two of free service for early renewal contracts or an incentive to «sign now» by offering added premiums to an otherwise base package. In an environment where you’re selling through a channel, such as a distribution network of third party dealers, you could offer special discounts if they sell/push your highest margin items or for bulk orders in specific times of the year.

What I am getting at is that while there are different strategies we can use to boost sales, it largely depends on the types of business and sales model you’re employing. So don’t read these tips and think they’ll all work, because they won’t. Consider your target audience, consider what they need (first) and want (second), and how you can put together the right incentive that will draw them past that area of pre-purchase dissonance where cost outweighs the benefit.