Starting a new business completely from scratch is always very difficult, particularly now in this economy and considering the situations in the world. Leaving your secure job in favor of something new and uncertain is always exciting, but it is a well-known fact that more than 50% of new businesses fail to survive an initial couple of years on the market. The industries are simply too saturated for the inexperienced newcomers to make bad moves and still remain relevant, which is why a new brand needs to have the right things to even remain involved, let alone continuously increase its revenue.
As a business owner and the main person behind your brand, you have to think about the latest features the customer base needs and wants if you want to remain a worthy opponent to your competitors on the market. Due to such circumstances, an average young entrepreneur like yourself needs all the help they can get. In order to help you, we decided to write this article in the form of a guide regarding the features you need to build into your bend in order for it to keep bringing you revenue and also increase its revenue over time. Right from the start we will say that this is no easy task, but if you keep working hard and dedicate enough time, effort, and resources to it, you will surely be among the leaders in your field.
1. Have a Dedicated App
The world has been depending on modern technology for around two decades now as everything is now online. People carry smart mobile devices on them at all times and spend numerous hours per day on them both when they are at home and when they are out and about. This means that each person is a potential customer so the least you can do is allow them to learn about your brand in the best way possible. And what would that be, we hear you ask. Well, it is simple really. What you need is a dedicated application for your brand. It hardly matters nowadays what industry you are a part off in terms of apps. Every serious business has one, from those who actually depend on the app for their products or services to the ones that have it developed out of courtesy. The customers will appreciate it and realize that you are serious about your work. Even if it only gives info about you and lets people contact you easier may be enough, let alone something far more superior. To learn more about apps and how you can build them, click here.
2. A Quality Website
Although the app may be the industry standard right now, a website has been the bread and butter of brand recognition and customer care since the dawn of the internet. You simply have to have a quality website full of different features and information if you want your product or service to bring in the bags. Revenue is dependent on the right type of marketing. It is not enough to have a quality thing to offer the people anymore. They need to know about you, hear about you, and when they do, they need a place to come and check you out. This is where the website comes in. Basic features like photos, videos, and written info about who and what you are go without saying. Search options, various tabs with your products and a web shop will set you apart from other newcomers and allow you to join the elite. Let the people know who runs the operations and who your employees are, post your prices and answer their questions before they ever have the chance or the need to ask them. Most of all, dedicate enough resources to the server and maintenance to have smooth transitions and continuous uptime.
3. Customer Service
A modern customer is a very demanding one, mostly because top companies and brands have spoiled them with their services and products. This means that they will have no problem to forget your brand ever existed if they find something they do not like or if they have an unresolved issue for long. To prevent this, you simply must invest in the right amount and type of customer service. An around-the-clock phone is not enough, nor are the emails. These are industry standards and everyone has them. For you to truly help your customers in need and answer their questions, you will require responsive and efficient service and an automated chatbot on your website or app. These solutions are quite useful and they are capable of handling numerous customer issues at once. You will not have to keep actual employees on the payroll either, or employ them elsewhere to increase other sections of your company.
4. Smart Marketing Campaigns
If you think for a second about how much the industry leaders spend on marketing when everyone already knows all about them, you can begin to understand the importance of marketing campaigns. Your brand only brings in revenue if people know about it and if it is constantly on their mind. If you think fuzzy drinks, you think Coca-Cola. When you think sports apparel, there is Nike. Fast food? McDonald’s. Entertainment is all about Disney and its subsidiaries. They spend billions on marketing each year and everyone already knows them and loves them. Take a page form their book and utilize marketing to your advantage. Social media can help you there, and so can SEO, public relations, content marketing, and email marketing.
Bonus Revenue Growth Advice
Consider these tactics when trying to increase the revenue of your brand through:
5. Keeping Customers
As a business owner, your ultimate goal should not be to have a ton of one-time customers who will come around, shop what you have that time, and never come back. You need to build a base of returning, dedicated customers who will not think twice about who to call and who to recommend.
6. Discounts and Promotions
Everyone likes free stuff as well as price cuts, so the best way to have an influx of new customers is to have a sale, a promotion, or to offer some incentives like discounts.