How to Earn More Revenue With the Customers You Already Have

Here are three ways to boost your revenue without having to find new customers.
August 14, 2020 7 min read
Opinions expressed by Entrepreneur contributors are their own.

Finding new customers isn’t easy. So when you do find a customer, you want to make sure you’re earning as much as possible and providing the best experience for them.

One of the most effective ways to do this is to offer “upsells” and “cross-sells” — additional offers after the initial purchase.

These allow you to serve your customers at a higher level and increase revenue at the same time.

The fact is: If you don’t offer anything after the initial purchase, you may be leaving money on the table and leaving your customers with unsolved problems (that they’ll go elsewhere to get help with). Not good!

3 ways to earn more revenue after the initial sale

I’m going to highlight three different types of post-purchase offers you can make to boost your revenue with the customers you already have.

1. Offer a higher-tiered product or service

This is the most standard form of upselling. When someone buys a product or service, you can pitch them a more robust offer that addresses the same problem or need, but at a higher level.

For example, if you’re selling a coffee press, you could offer an upgrade to your “Complete Coffee Kit” with a grinder, filters and more.

Related: This Company Thrives by Giving Away 20 Percent of Its Revenue

If you’re running a subscription software business and someone buys your basic plan, you can ask if they’d like to upgrade to a Gold or Platinum tier to unlock additional features. Or, you could ask if they’d like to pay yearly instead of monthly to save 15%.

If you’re selling an e-book or course on a topic, you can ask customers if they’d like to upgrade to get a live coaching package and learn directly from you as well.

There are many ways to present this and it will depend on your business.

2. Offer a related or complementary product or service

Next, you can offer something that compliments their original purchase but addresses a different problem.

This is known as cross-selling.

For example, my company sells a job interview answer PDF. When somebody orders, we ask if they’d also like to add our salary negotiation guide.

While this second product addresses a different need, it logically follows the first product and fits the general situation that they’re in.

Related: See How Much Revenue Apple, Amazon and Alphabet Make Every Second

Last month, 17% of customers added this additional product to their order in the same transaction. This is additional revenue without any added effort on our part (aside from creating the product and setting up the sales systems initially, which I’ll discuss later in this article).

3. Recommend products or services from other businesses

Finally, you can create a partnership with other companies to refer customers and receive a commission on sales.

Here’s an example of how (and why) you may want to do this:

Imagine you’re a solar roofing company. Business is going well, but your customers are starting to ask for help with more than just roofing.

You have no desire to become a general contractor or work on entire homes, but you’d like to help your customers find good solutions.

To solve this, you could form partnerships with other companies in the industry. You could find a company that sells energy-efficient appliances, for example. You could also refer people to a company that handles energy-efficient windows and doors.

The best way to decide which businesses to partner with is to look at what your customers are already asking you for help with.

As another example, if you’re a digital advertising agency, but a couple of clients have asked you if you can build them a new website, you could partner with a web development firm. That way, you have a reliable place to send customers who ask for a website in the future.

Doing this allows you to maintain your core focus in your business and not spread yourself too thin, but still provide a more complete solution to your customers.

If you do make a recommendation following this model, you should disclose that you have a business relationship with the other company. As long as you’re transparent and have good reasons for recommending them, your customers will appreciate the referral.

Related: This Founder Found Better Customers and Increased Her Revenue by Increasing Her Price

In terms of fees, it’s reasonable to ask for a 20% commission from service businesses for new customers you send them. For referrals to businesses selling digital products like e-books and courses, 50% is common. For physical products, the commission will vary and may be lower due to lower margins for the seller (they have additional costs like manufacturing, shipping and packaging).

Implementation

We looked at three different types of upsells and cross-sells above, so now let’s look at the best ways to implement these offers and deliver the message to your customer.

The best approach for your business will depend on your product offer and price point.

1. The one-click upsell

With the one-click offer, you’re offering an immediate upgrade or additional add-on as a part of the checkout process. I mentioned an example of this earlier, where I offer customers of my job interview guide an immediate discount on my salary negotiation guide if they add it to their cart.

The exact way this will be presented to your customer depends on your checkout software and you may have multiple options to choose from.

For example, you may be able to add a yes/no checkbox with your upsell offer on the same checkout form that you’re already using.

Other systems allow you to present the offer immediately after the first transaction is completed, either via a popup notification or a redirection to a new web page.

You may also be able to choose between multiple options. Consult with your checkout software provider for more info. If your software allows multiple options, you can test them to see which performs best.

2. Email follow-ups

If you don’t want to present your offer within your checkout process, you can use email marketing tools like ActiveCampaign or MailChimp to schedule a follow-up email whenever somebody buys a product or service from you.

This is another good way to notify your customers about what else you offer. You could also include a discount code to encourage future purchases.

3. Phone follow-ups

For a more personalized touch, you can follow-up on the phone with a customer. This is better for higher-ticket products and services.

While I wouldn’t expect a phone call after ordering towels or a laptop stand online, it’s something I’d appreciate after buying a $2,500 coaching package or paying a large deposit to get a new driveway built.

4. A card, letter, or in-product offer

If you prefer a physical card over email, that’s another good option to present an upsell after the initial purchase.

If you’re shipping a physical product, you can include a card right within the package you’re sending.

If a customer ordered a digital product like an e-book, you can mention your upsell within the product itself (ideally near the end, after they’ve consumed the material and gotten value from it).

Maximizing your revenue

It takes time, effort and money to acquire new customers and find new leads, so you should do everything possible to maximize your revenue when you do find a new customer.

By offering upsells and cross-sells, you can address more of your customers’ needs and provide more value to them while boosting your income at the same time.

3 Revenue-Generating Activities for Your Virtual Assistant

This trio of tips will help your remote administrator drive visibility and income to your business.
July 24, 2020 3 min read
Opinions expressed by Entrepreneur contributors are their own.

A virtual assistant (VA) can be a critically important asset to any business. Still, I continue to hear the phrase, “I wish I could afford a VA, but I can’t.” And my answer has long been the same: “If you could hire a VA for $1,500 a month (or less), and they could bring in $3,000 in revenue, could you afford it?” The answer is always a resounding yes.

Here are the top three ways you can leverage a VA to drive visibility and income to your business.

1. Sales Prospecting and Lead Generation

Probably the most obvious way you can generate revenue for your business is keeping your sales pipeline full. One of my favorite tools is LinkedIn, a powerful platform for identifying sales qualified leads (SQLs).

You can also find leads through Google business listings, directories, Facebook groups, professional associations and more. Make sure to set a specific criteria of leads you’re searching for and record a little video clip of how to do it, and then let your VA have at it.

Here are a few additional tools you can use for prospecting:

  • BuzzSumo to build lists of influencers you can coordinate with to help market and promote your products.
  • Hunter.io helps you find email addresses for key contacts just by typing in the domain name of the company you want to reach, and it searches for email addresses associated with the domain.

Empowering your VA with the right tools for the job makes them more efficient, and gets you more results.

Related: Is a Virtual Assistant the Secret to Keeping Your Small Business Afloat?

2. Repurposing Content for Marketing

If you are anything like most entrepreneurs, you have created blog posts, email newsletters, social media posts and maybe even some informational videos about your product or service. The problem is, once published, they often go into the dark hole of the internet or email inbox, never to be seen again. Use your VA to turn your blog posts into email newsletters to nurture your audience. Transform your newsletters into material for your social media posts and boast a stronger presence online.

Related: 14 Easy Ways to Make Extra Money at Home

3. Media and PR Outreach

One of my favorite ways to build a following is by leveraging podcast audiences. You could have your VA research podcast hosts in your niche and send out pitches to get on their shows. My VA, Ysabelle, does this from my email address and sends a script out to podcasters with ideas we could discuss on their show to add value to their audience. This year alone, I’ve been featured on more than 50 podcasts, and I have an ambitious goal to be on 100 by the end of the year.

Podcast pro tip: Make sure that you have something of value (like a downloadable guide, resource, training, etc.) that relates to the topic of discussion you can plug on the show. This will attract listeners into your network and position you as a resource.

One other proven way to hijack press is by having your VA do research on Google to find out what publications your competitors have been featured in and collect names of the authors to start building relationships with them.

These are just a few of the way ways to leverage your virtual assistant to generate revenue for your company. What are you waiting for?

Here’s How To Make Your SaaS Marketing Strategy Generate Revenue

Optimizing for conversions is just the tip of the iceberg.
November 13, 2019 4 min read
Opinions expressed by Entrepreneur contributors are their own.

Entrepreneurs who venture into the SaaS industry are often fueled by the passion of building phenomenal products that can change their customers’s lives, but also consider marketing and sales central to realizing their goals. Marketing for a SaaS business is uniquely challenging. Unlike traditional product- or service-based businesses, the element of tangibility is low.

While there are many so-called hacks to follow when strategizing, there is only one approach that can yield consistent revenue regularly. It involves successfully leveraging content to your advantage. Here’s how.

1. Optimize your website for conversions.

Content optimization and keyword research are central to ensuring that your SaaS site comes up when customers search for a product that you offer. How do you go about doing it? Identify all the buy-intent keywords that your potential customers may be searching for and optimize your existing landing pages to target them. The idea is to direct potential customers to your website whenever they’re making a purchasing decision.

You should be focusing on drawing traffic that has the potential to convert, impact the business’s bottom line and deliver promising ROI. This is exactly what’s promised by the hockey-stick content-growth strategy, which focuses on generating leads with content.

Related: Buying or Selling an SaaS Company? Read This First.

2. Create content that meets your target audience’s queries.

To drive organic traffic to the landing pages, it needs to be layered with content pieces. Focus on answering queries that cover what customers in the consideration phase of marketing funnel would ideally be looking for by targeting middle-of-the funnel keywords. This ensures that the leads entering your funnel will be higher along in their journey of discovery and more likely to convert. These content pieces also act as a bridge when building backlinks to your landing pages, driving link equity as well as referral traffic back to the conversion-optimized pages on your blog.

3. Make sure your content comes up in relevant searches.

In a perfect world, you would only need to produce stellar content and your audience would automatically discover it, publications would organically link to it and you would get a string of leads flowing in right away. The truth is, no matter how well-researched your content is, it seldom reaches its audience unless you put forth some serious effort. How do you do that? Build backlinks for your content. Pitch to high-authority industry publications within your niche that target the same audience as you and offer to write guest articles for them. This builds the authority for your SaaS website, getting your content to rank organically while driving referral traffic at the same time.

Related: 4 Ways SaaS Can Make Entrepreneurs More Efficient

Now that you have attracted leads, nurtured them with information and gotten them to convert into paying customers, what next?

SaaS is an industry where everything — the product, its marketing, sales interactions and customer support — is tightly bound. Every touchpoint of customer interaction needs to provide a seamless experience to the users to unlock revenue potential and ensure long-term growth. Marketing is no exception.

How a Dentist Used Social Media to Reach 7 Figures in Revenue

Her social media strategies also helped patients overcome their fears.
August 5, 2019 2 min read
Opinions expressed by Entrepreneur contributors are their own.

In this interview at ClickFunnels’ annual Funnel Hacking Live conference, Entrepreneur Network partner Emily Richett sits down with Dr. Anissa Holmes, a dentist and entrepreneur, to learn how she used social media marketing in her business and helped other dentists boost their practices.

Dr. Holmes uses her social media marketing experience to help other dentists bring in more patients and make a greater impact in their communities. Through funnels, Facebook ads and coaching services, she’s helped dentists scale their practices by 30 to 50 percent per year.

Holmes says it all started with her own dentistry practice. Her new patients would tell her about how her social media helped them overcome their fears of going to the dentist because it highlighted other patients’ great experiences.

Holmes says that social media marketing was the key to getting her practice in front of people, which helps them fight their fears. She says, “If we can unpeel and show them that we are impacting lives in the community, that our patients are having really good experiences, we can connect with them and change their life as well. And that’s the power of marketing.”

Holmes also said that the main motivation in her business, Delivering Wow, is serving her colleagues. She adds, “In order to serve people, you have to have ways to serve them. And so that’s what I’ve been able to create, again using this amazing software with click funnels.”

Related: How This Entrepreneur Achieved His Greatest Success After His Worst Failure

Acquire Traffic and Drive Revenue With This $11 Digital Marketing Course

The Complete Guide to Digital Marketing will make you an online marketing machine.
June 22, 2019 2 min read
Disclosure: Our goal is to feature products and services that we think you’ll find interesting and useful. If you purchase them, Entrepreneur may get a small share of the revenue from the sale from our commerce partners.

It’s no secret that you’ve got to have a killer website, awesome social media accounts and fascinating podcasts to grab attention online. Investing in digital marketing is one of the smartest moves you can make when you’re starting your new business. If you want to do that work yourself but not feel totally overwhelmed, the Complete Guide to Digital Marketing Course is a great place to start.

This class will teach you how to harness the power of digital marketing to grow your own business or land a cushy job in this hot industry. You’ll learn how to create consistent branding and storytelling across your entire web presence, from your email newsletters to Facebook live streams.

Search engine optimization, or SEO, will help move your content to the top of Google’s search results. This course teaches you how to successfully execute an SEO roadmap, and how to use Google Analytics to optimize your marketing for your target demographic. You’ll get plenty of recommendations for free tools that will help you blog more effectively, make the most of sites like Pinterest and Quora and start worthwhile podcasts.

The Complete Guide to Digital Marketing Course usually costs $200, but right now you can expand your digital marketing skills for only $11 (94% off).