One thing that happens in a “booming” or “growing” economy is that making sales and generating revenue can feel a lot easier.
While I’ve been going by the brand, “The Revenue Architect” for years, my sole focus hasn’t ever been on just generating the most revenue.
There are any number of ways that you can goose your revenue numbers that are harmful to your business and your brand like discounting, poor quality products, and commodity thinking.
What I have been working to instill in people over the years is that you can generate revenue and profit, and you should.
This process begins by thinking about the sustainability of your endeavor.
Here are a few ideas that are sustainable and profitable.
Put customer service at the heart of your experience:
Have you ever been to a Four Seasons resort?
If you have, you know that the Four Seasons delivers on the brand promise of outstanding customer service.
In all the locations I have been to, I have never had one bad customer service experience.
In fact, I’ve had more customer service experiences and connections that rise to heights of needing to be shouted from the rafters than I have time to list.
The point isn’t that, of course, the Four Seasons has the money to invest in customer service. They don’t have the money not to invest in customer service because their entire brand is built on the promise of the service and experience you will have at a Four Seasons.
But the larger point is that even if their emphasis wasn’t on customer service, they were going to have the people there, to begin with to service customers. Why wouldn’t they make the service great? The costs are the same.
A strong brand:
Tom Peters ushered in the idea of “The Brand Called You” 20 years ago.
In the 20 years since Tom came up with the idea, his prediction has come true and personal brands have become the bane of many people’s existence.
The thing is that this carryover of bad branding has often seeped into the branding of many organizations as well.
How many times have you looked at a brand and you couldn’t come up with the slightest clue of what they were, what they stood for, or how they created value?
More than you care to admit, I bet.
Your brand has to be strong.
It should reflect how you want the world to see you and the space you take in the world.
Go back to me: “The Revenue Architect” is pretty clear.
We are going to talk money and when you look at the brand promise with the client list, you get a clear indication of what our conversation will look like.
This helps eliminate haggling over fees.
It lowers marketing costs.
It accelerates the sales process.
Investing in your brand and what it says about the world you live in is a great way to ensure that you generate sustainable and profitable revenue.
Focusing your strategy:
Over the years, I drive you to think about 3 questions when you are thinking about your strategy:
- What’s the value you hope to create for your customers?
- Who is the person that can appreciate the value and pay for it?
- How do I go about reaching these people?
Too many times, this practice isn’t taken.
Our strategies are unfocused.
We aren’t looking at buyers, but anyone that will meet with us or like what we are doing.
Our marketing isn’t reflecting the first two ideas.
It gets ugly fast.
You need to really target your strategy to maximize the likelihood you are going to deliver the proper message of value to the right people.
If you aren’t, the likelihood of sustainable revenue lessens as you put yourself in a position of a commodity or someone with a poor market fit.
These are only 3 ways that you can start to build your sustainable revenue engine, but they are powerful.
Is your organization maximizing its revenue? Let’s find out, I’m a free 20-minute consultation focused on uncovering hidden revenue opportunities to the first 5 people that email me at email@example.com with the subject line “Sustainable growth”.