Strategies for sales growth
“Why is my business not growing faster?”
That’s the top question I’m asked from successful entrepreneurs who are stuck and know their businesses are capable of a lot more.
You’re working long hours and racking your brain to figure out what you should be doing next…
Every “expert” tells you to build a new funnel, try a growth hack or use the latest technology if you want to reach your revenue goals this year.
Except… what if it won’t?
What if the all the time you’re spending trying to boost your sales was, in fact, a disappointing waste of effort?
What if all the advice you’re getting results in longer delays and more stagnation?
It would be a tragedy. Yet, that’s exactly what’s happening to millions of small business owners around the world.
Is it because all these popular marketing strategies for sales growth are just a fad? Or worse, a gimmick?
No. Many are sheer brilliance. IF you execute the right strategy in the right order – breakthrough sales are possible (I have seen one strategy that generated $1.17 million in 5 days).
But that rarely happens the way most people approach marketing strategies for sales growth. There are many reasons why it’s inefficient and I could run an entire business training explaining them all.
The lack of sustainable growth isn’t about having the right lead generation or marketing strategies for sales growth.
There’s a template the world’s fastest-growing companies use to grow – and if you don’t follow it in order, it’s like frosting a cake before you put it in the oven.
You might be doing everything right – but focusing on the wrong things and in the wrong sequence – and that explains the disappointing results.
Here’s what I mean…
You Don’t Have a Strategy Problem
There are over 529 million pages of advice on the Internet on how to grow a business. Some great, some so-so and many downright destructive.
I work with entrepreneurs in various industries and, over the last decade, have helped them generate tens of millions of dollars in additional revenues (often within weeks).
What might surprise you though, was that most of these sales were generated without spending more money on marketing than they were currently spending…
…let that sink in for a moment…
My clients generated millions of dollars in revenues without spending additional money on marketing…
…nor did it require the business owner to work any harder.
We simply took advantage of the dozens of low-hanging fruit opportunities existing in EVERY business (yours too!).
Think of it like the old adage, you can’t see the forest through the trees… you’re so close to your business, in the thick of it, that often the opportunities are invisible at first glance.
All it took was a few tweaks to what they were currently doing and we made sales… LOTS OF SALES!
So yes, our results are impressive – but to be fully transparent – it wasn’t magic, luck or the result of a “revolutionary” strategy.
The One Business Strategy That Matters
When most entrepreneurs consider marketing strategies for sales growth, their knee-jerk reaction is to look for more leads.
As it turns out though, that’s wrong.
I helped a company better than double revenues and earn a spot on the Inc. 5000 Fastest Growing Companies because of a concept called: “Momentum.”
Here’s the definition:
Momentum is an area in your business that’s generating traffic, leads, and sales.
If you have a business doing over $250,000 a year — chances are, you’re laying on an exciting hotbed of momentum.
How else can you explain why it was easier to go from $1million to $2million than it is to go from $0 – $1million?
The idea is that Momentum will put more money in your pocket faster, more efficiently and with less effort.
The Wharton School of Business said:
“Momentum leaders are not lucky – they are smart. They have discovered the source of momentum and, with it, the beginnings of a smarter way to exceptional growth…”
At Midnight Oil we make it a priority to help our clients locate momentum areas of opportunity before starting a brand-new strategy from scratch.
Still with me?
If you want to grow your business faster, easier and more predictable than you’re doing it right now – go where there’s momentum.
It took me years of struggle, frustration, and disappointing sales to figure this out.
In fact, it’s not a strategy I’ve heard anyone discuss, so I had to create an entirely different framework to drive home results. Let me explain:
Suppose for a moment you own a marketing agency. You woke up one morning and decided the reason why you’re stuck is that you need to generate more leads using Facebook advertising.
(This is all the rage nowadays.)
Supposedly, all you have to do is get this sucker up and running, watch the new leads pour in and collect tons of money, right?
Not necessarily. For instance, you’ve yet to identify the winning:
Interest groups and targeting
Landing page and offer
Conversion strategy for those who don’t buy right away
That’s a lot of room for error…
Noah Kagan (of AppSumo Fame) invested over $3 million on Facebook ads and said it can take up to 6 months to get your online advertising profitable.
Why wait that long
When you work with momentum – targeting your hottest buyers and nurtured leads rather than searching for new, cold prospects- you can use Facebook to show ads to your:
Existing clients (stay in their minds to encourage them to buy more often)
Lost visitors (who visited your website and didn’t buy)
Lost clients (make them a very compelling offer to draw them back into the funnel)
Opt-outs (this provided one of the highest ROIs on paid media last year)
People who already look like your existing buyers (it’s called “Look-a-Like Audiences” – if a Facebook dummy like me can figure it out – anybody can do it too).
once you set this up, you can drive sales AUTOMATICALLY, systematically and without any extra work… totally turnkey and the results are 10-times greater than traditional Facebook advertising.
That’s only one of many, many, many strategies in your business toolbox to get better results with less time or money.
The bottom line:
Stop obsessing over chasing the latest revenue strategy, growth hack, social media channel and so forth.
Sure, it’s interesting but it’s not the easiest or fastest way to put your company back on the growth track.
Instead, start with the areas that have momentum in your business.
Then deploy high-return strategies like upsells, downsells, cross-sells, point of sales offers, cart abandonment, re-engagement, pricing inducements, premium pricing techniques, loyalty programs, partnerships, active referral strategies, multi-channel communication, client communication and more momentum increasing options.
You have plenty of options, but all it takes is just ONE.
One marketing strategies for sales growth.
One strategy to put your company on the growth tracks.
One strategy to take your business to the next level.
With just a little effort, working with momentum will help you you’ll see quick results easier than just about anything else.
I have been a serial entrepreneur and operator for over 15 years. I have experience of building startup businesses and using technology extensively in operations. I am a trusted advisor to my clients. I build strategies to grow, scale and mature businesses. I offer expertise on best in class technology management. I am the President of Midnight Oil Corporation and implement the leading business growth processes and strategies for our clients. I am an executive consultant focusing on creating scalable businesses.