Every company wants to grow revenue. But how?
In this article, CEOs, founders, and top business minds reveal strategic decisions that propelled their companies forward. From focusing on upsells for current clients to launching comprehensive on-page SEO training, here’s fifteen transformative insights that could boost your company revenue.
- Focus on Current Clients’ Upsells
- Transition to Virtual Training Globally
- Diversify Service Offerings for Growth
- Single-Channel Focus on SEO
- Invest in Automated Email Marketing
- Embrace Digital Marketing Trends
- Eliminate Underperforming Products
- Develop B2B Referral Partnerships
- Augment Revenue With Strategic Link-Building
- Introduce Subscription-Based Analytics
- Launch Managed Cybersecurity for SMEs
- Expand Market Reach Across Industries
- Invest in High-Barrier Packaging R&D
- Transform Into a B2B Marketplace
- Launch Comprehensive On-Page SEO Training
Focus on Current Clients’ Upsells
Focus less on sales and more on current clients. As a founder of a marketing firm, I have to juggle bringing on new clients with servicing my current ones. From the outside, you would think that continuing to bring on more customers would increase revenue, which is true in the short run, but it also adds expenses and decreases current client happiness in most cases.
A pivot that can be made to boost revenue and keep current client happiness high is focusing your sales efforts on current clients who already love working with you! By giving more attention and service to our existing client base, we build trust and improve results for them, thus making upsells into new channels or in current ones so much simpler. This strategy saves us a ton of time in the sales process, making our clients feel so much happier and valued.
Austin Stouffer, Founder & Lead Consultant, Loading Leads Marketing
Transition to Virtual Training Globally
One strategic decision that significantly boosted TSW’s revenue was the transition from face-to-face classroom training to virtual training and e-learning. This move allowed us to diversify and expand our offerings, transforming from a South Wales (U.K.) training provider to a global learning provider.
Before the shift, our market was limited to local clients who could attend in-person sessions. By adopting virtual training and e-learning, we opened our services to a global audience, breaking geographical barriers and tapping into new markets. The flexibility and convenience of online learning also attracted more clients, including those who couldn’t previously attend due to travel constraints or busy schedules.
As a result, our revenue tripled in the year following this change. This success underscores the importance of adapting to technological advancements and evolving market demands. For other businesses considering a similar shift, it’s crucial to invest in robust digital infrastructure, ensure high-quality content, and continuously engage with your audience to meet their evolving needs.
Looking forward, businesses need to make strategic decisions to anticipate the changes AI will bring. Integrating AI can optimize operations, personalize learning experiences, and enhance global engagement as we leverage digital transformation to expand our reach. Staying ahead of technological trends and being proactive in adopting new tools will be key to maintaining a competitive advantage and driving future growth.
Matthew Channell, Commercial Director, TSW Training
Diversify Service Offerings for Growth
A pivotal decision that led to a revenue boost was diversifying our service offerings. By expanding from just captioning to include transcription and translation services, we tapped into new markets and met broader client needs. We streamlined our operations to ensure seamless integration of these services. I spearheaded this initiative, working closely with our team to ensure quality and efficiency. This strategic move resulted in significant revenue growth and client satisfaction.
Khurram Suhrwardy, CEO, Caption Easy
Single-Channel Focus on SEO
Initially, we put all our eggs in one basket by focusing solely on SEO, a move that paid off with considerable ROI. This risky decision, especially with our tight budget, allowed us to dedicate all our energy to perfecting SEO. By honing our strategies and creating top-notch content, we attracted significant organic traffic, which translated into impressive revenue growth. This experience showed us that with dedication, a single-channel focus can yield extraordinary results.
Matias Rodsevich, Founder & CEO, PRLab
Invest in Automated Email Marketing
As a business leader, the best decision I made for me and my team was to invest in an automated email marketing tool that proved transformative. By selecting a robust platform and integrating it with our CRM system, we streamlined customer communication and enhanced personalization.
Automated workflows for welcome sequences, abandoned carts, and personalized recommendations significantly boosted engagement and conversions. Monitoring metrics allowed us to optimize campaigns continuously, leading to substantial revenue growth from repeat purchases and customer retention.
This strategic decision not only improved operational efficiency but also maximized the effectiveness of our email marketing efforts, proving instrumental in driving overall business growth.
Vaibhav Namburi, Founder, Smartlead.ai
Embrace Digital Marketing Trends
Boosting company revenue often feels like finding a winning lottery ticket—elusive but oh-so-rewarding when you hit the jackpot! One strategic decision that really paid off for us was diving headfirst into digital marketing trends, like a kid into a ball pit. By investing in targeted online advertising campaigns and optimizing our e-commerce platform for a seamless customer experience, we saw sales skyrocket faster than you can say “add to cart.”
It was like turning on a tap and watching the revenue flow in—minus the water bill! Embracing digital transformation isn’t just about keeping up; it’s about staying ahead of the curve and making waves in your industry.
Josh Burris, CEO, STNDRD
Eliminate Underperforming Products
One strategic decision that significantly boosted my company’s revenue was eliminating an underperforming product. By removing this product from our lineup, we allowed our sales team to focus their efforts on more profitable offerings. This shift in focus enabled us to allocate resources more efficiently and drive higher sales in areas with greater demand.
Concentrating on our most successful products and services streamlined our operations and improved our overall market positioning. Our sales team could dedicate more time to understanding and meeting customer needs in these key areas, which enhanced customer satisfaction and loyalty. This targeted approach helped us build stronger relationships with clients and increased repeat business.
As a result, our revenue grew steadily over time, reflecting the positive impact of this strategic decision. By focusing on what we do best and eliminating distractions, we were able to maximize our strengths and achieve more sustainable growth. This experience underscored the importance of regularly evaluating product performance and being willing to make tough decisions for the long-term success of the company.
Greg Davis, Founder, Azola Creative
Develop B2B Referral Partnerships
As a SaaS business, a strategic decision that significantly boosted our company’s revenue was our collaboration with other companies by developing tailored tools and software for them. This partnership allowed us to create valuable solutions that met specific needs and led to a mutually beneficial arrangement where our partners would refer clients to us whenever their needs aligned with our expertise. This symbiotic relationship has proven to be an effective strategy in driving revenue growth through increased leads and expanding our customer base.
David Rubie-Todd, Co-Founder & Marketing Director, Glide
Augment Revenue With Strategic Link-Building
In my journey as the founder of PressHERO, one strategic decision that truly augmented our revenue was my resolve to focus on proficient link-building. I employed innovative SEO strategies to secure high-quality links from reputable media channels, which significantly boosted our brand credibility and online visibility.
For instance, within a year, we saw a 60% increase in organic traffic and a 35% rise in lead conversion. This strategic shift enhanced our organic search rankings and translated into substantial revenue growth.
Another instance was when we worked on a small business’s website affected by search engine penalties. We managed to restore their website, increase their organic click-through rate, magnifying their online visibility, and, as a result, their revenue surged substantially.
These experiences have reinforced my belief that strategic link building is a powerful tool to drive revenue growth in any business, particularly small and medium enterprises navigating the digital landscape.
Maurizio Petrone, Founder & CEO, PressHERO
Introduce Subscription-Based Analytics
A strategic decision that significantly boosted our company’s revenue was the introduction of a subscription-based model for our analytics services. This shift provided clients with continuous access to our advanced analytics tools and insights, which resulted in more long-term relationships and predictable revenue streams.
Initially, we offered our services on a project-by-project basis, which limited our ability to maintain consistent engagement with clients and resulted in a fluctuating revenue stream. We recognized the need for a more stable and scalable model, so we transitioned to a subscription-based approach and offered tiered packages tailored to various client needs and their budgets.
We began by conducting market research to understand the most valuable features and services for clients. We then designed subscription tiers that included a mix of regular survey deployments, real-time analytics dashboards, and personalized consultation sessions. This ensured that clients received continuous value, allowing them to make data-driven decisions throughout the year.
To make the transition easier for our existing clients, we decided to offer introductory discounts and free trials of the subscription service. We invested in a customer success team to help clients maximize the benefits of their subscriptions, ensuring they fully understood and utilized our platform’s capabilities.
The results were impressive: within a year of launching the subscription model, our recurring revenue increased by 38%, and client retention improved by 31%. This model provided us with a more predictable revenue stream and allowed us to invest in further product development and innovation. Also, the ongoing engagement with our clients helped us build stronger relationships and continuously improve our offerings based on their feedback. This strategic shift not only boosted our revenue but also positioned us as a trusted long-term partner for our clients.
Simon Stapleton, CEO and CTO, Truthsayers Neurotech
Launch Managed Cybersecurity for SMEs
One strategic decision that profoundly impacted CloudTech24’s revenue was the introduction of our scalable, managed cybersecurity services tailored specifically for small- to medium-sized enterprises (SMEs). Recognizing the growing cybersecurity threats facing SMEs and their limited resources to combat these risks, we saw an opportunity to provide affordable, enterprise-grade cybersecurity solutions that were previously accessible only to larger corporations.
We strategically adjusted our service offerings to include flexible, tiered packages that allowed SMEs to choose services that best fit their needs, budgets, and goals. This decision was accompanied by a targeted marketing campaign that emphasized the value of robust cybersecurity and the potential cost of cyber incidents, helping SMEs understand the return on investment in our services.
The introduction of these tailored solutions aligned with a clear market need and significantly broadened our clientele base. As a result, we saw a sharp increase in long-term contracts, which bolstered our recurring revenue and provided a steady cash flow, enabling further investment in service development and innovation. This strategic shift accelerated our revenue growth and strengthened our market position as a leader in SME cybersecurity solutions.
Craig Bird, Managing Director, CloudTech24
Expand Market Reach Across Industries
One key decision that significantly boosted our earnings was broadening our market reach by serving a variety of industries. Initially, our focus was mainly on corporate sectors. However, we identified opportunities in fields like education and healthcare that were yet to be explored. By customizing our display solutions to cater to the requirements of these new sectors—such as facilitating internal communication in hospitals and delivering educational content in schools—we unlocked fresh streams of revenue.
This expansion necessitated market analysis and product adaptation, which ultimately proved to be very successful. Not only did it expand our clientele, but it also solidified our reputation as an adaptable player in the digital signage industry, leading to a significant increase in revenue.
Mark McDermott, CEO & Co-Founder, ScreenCloud
Invest in High-Barrier Packaging R&D
One defining strategic decision that significantly increased Srlon’s revenue was our focus on research and development to enhance our high-barrier packaging technology. Recognizing the market’s growing demands for high-quality, high-barrier food containers, we invested substantially in our Innovation Center in 2020 and 2021. The updated technology improved the quality of our containers and boosted our production capability, allowing us to produce 200 million sets of high-barrier containers. This allowed us to capture a larger market share and enhanced our reputation as a leading manufacturer.
Simultaneously, we shifted towards a customer-oriented strategy, concentrating on providing superior value to our customers, thereby creating more selling points and enhancing our customer sales. These decisions collectively played a significant part in boosting our revenue and overall financial health. As reflected in our successful IPO in 2017, strategic decision-making, guided by a deep understanding of market trends and customer needs, can dramatically impact a company’s revenue growth.
Tony Chen, CEO, Srlon
Transform Into a B2B Marketplace
One strategic decision that propelled DesignRush’s revenue growth was the transformation of our business model into a B2B marketplace. Initially, we operated as a traditional digital agency, competing with similar entities. However, recognizing an untapped opportunity, we shifted our platform to connect brands with professional agencies, setting ourselves apart in the crowded digital landscape.
This pivot allowed us to tap into a wider audience, creating a win-win situation for both brands looking for specialized services and agencies seeking wider exposure and clientele. This transition didn’t come without challenges. We had to greatly enhance our vetting process to ensure we represented only the top agencies while offering a diversity of services. We also dedicated efforts to building relationships and trust with businesses seeking agency partners.
The results were compelling. Within the first year of this strategic shift, we experienced a significant surge in transactions, increasing our revenue considerably. This strategic pivot demonstrated the power of recognizing market gaps, adapting swiftly, and effectively implementing changes to existing business models.
Gianluca Ferruggia, General Manager, DesignRush
Launch Comprehensive On-Page SEO Training
We were constantly seeking ways to enhance our service offerings and stay ahead of the competition. In 2021, we made a strategic decision that significantly boosted our revenue and solidified our market position. We recognized that many of our clients struggled with understanding and implementing effective on-page SEO strategies, which are crucial for their online success. To address this, we decided to develop and launch a comprehensive On-Page SEO Training program.
Bruce Jones, CEO, 1ON1 SEO Training
