Sales revenue ideas to grow your business

Your business lives on the sales revenue it creates. Indeed, a healthy revenue stream and a good understanding of where your expenses are going can help boost your business profits.

So how does a small to medium size business generate revenue? And how can you build on your existing revenue, thereby supercharging your profits?

Maximise marketing

Of the many ways a business can boost its sales revenue, marketing is one of the biggest, says Anna Tantau of Page & Associates Accountants. 

"But that doesn't mean marketing only to new customers, so think about your existing customers - are they aware of your full range of products or services? "Or, are they buying things that you offer, from other companies?"

Otherwise known as cross-selling, this strategy can be as simple as putting ads in your email signature or adding existing customers to your mailing lists, to make them aware of your full range of products and services.

Increasing sales revenue

As well as traditional marketing techniques, like advertising on TV or radio or sponsoring events to reach your desired audience, there are many other ways to generate sales revenue. 

• Look at your expenses

Paying less for your products and selling them for the same amount increases your profit margin. Check if your supplier is the cheapest and if they offer discounts for early payment. 

• Capture the online market

A well-designed website speaks volumes about your business. Better still, it's cheap and reaches a global audience. Consider selling your products via your own, low-overhead, online shop.

• Affiliate marketing

Affiliate marketing is an online-marketing system in which companies affiliated with yours are rewarded for referring customers. It offers great potential for increasing traffic to your website, gives you better control of your marketing budget and allows you to target your advertising.

• Advertise other businesses

It may sound counter intuitive, but if your business has a fleet of vehicles or other highly visible property, consider selling advertising space to your suppliers. This tells customers they can purchase those products through your organisation.

• Information is king

Sell access to information sessions about your industry as a way of introducing your business to potential new clients. Get other businesses on board to defray costs and broaden the appeal of your event.

• Share space and customers

Maximise your customers' buying potential by leasing space in your building to complementary businesses. If you sell designer furniture, find a rug importer looking for showroom space. If you are a hairdresser, lease rooms to manicurists.

Boost your revenue

Ask an accountant for some fresh ideas on improving the flow of revenue into your business. With a combination of experience and expertise, the right accountant will help you generate new ideas for boosting sales.