The number one question I get from business owners is: “What should we do to grow revenue?” The answer: create momentum. Momentum is the force that pushes your company forward and can be created through many different channels.
In the business world, there is a lot of talk about momentum. It’s one thing you hear a lot from successful entrepreneurs and investors alike. The problem with this word is that it gets thrown around so often that people don’t even know what it means anymore. In fact, some people have just given up on trying to understand it at all because they think they’ll never be able to build any kind of momentum in their own business or investment portfolio.
That sounds pretty bleak, doesn’t it? Luckily for you, I’m going to show you how anyone can use momentum to grow revenue whether they are an entrepreneur or not!
Increase your marketing budget to attract new customers
Almost every successful business owner will tell you that momentum is driven by your marketing budget. The more you spend on attracting new customers, the faster momentum will come for your company.
You can easily achieve momentum by increasing your marketing budget to attract new customers. Just take a look at Apple’s iPhone 6 momentum after its release last holiday season!
Since December 2012, Apple has seen sales increase every quarter with their momentum continuing into January 2015 despite recent declines. By increasing momentum, Apple was able to see an increase in its revenue for the year. This is why momentum in marketing can be so powerful because it’ll attract new customers and give the existing customers something exciting to look forward to when they return. Not only that but this also allows for more opportunities to market your product or service which will continue to grow momentum. By using momentum through marketing, you can increase revenue in your company.
Reach out to current customers for referrals and testimonials
What about momentum for your current customers? Can momentum help increase revenue there too?
Yes! By using momentum to reach out to current customers for referrals and testimonials, you can easily grow momentum. Reaching out to your current customers and asking for referrals and testimonials is one of the best momentum-building strategies in business today.
People love momentum, after all! It makes them feel like they’re a part of something exciting. If you can get momentum by getting referrals and testimonials from your current customers, then momentum is definitely worth pursuing.
The momentum that you build through marketing can be maintained easily by keeping momentum with current clients who are already invested in your brand. This will keep existing momentum going and give you the opportunity to grow momentum. The momentum keeps your brand in the spotlight and then has a domino effect into new momentum when people see how exciting your business is.
Offer incentives, such as discounts or free products, for people who refer others
The momentum you build for your customers can be increased further by offering incentives, such as discounts or free products, to people who refer others. Incentives are a super-easy way to get momentum going quickly because potential customers will see that momentum and rush towards it even faster. This is especially true if the incentive you’re giving out causes a momentum shift, such as a discount on your product. Incentives can help increase momentum and grow revenue in your business.
It’s true that momentum can get your business or investment portfolio growing quickly and easily. However, the one thing holding momentum back from becoming widespread is that most people think momentum takes a long time to build. That’s not true at all! Most successful things grow momentum quickly and easily because momentum is fun to build.
Make sure that the momentum you’re building is worth it! If momentum isn’t being built with any measurable impact or lasting positive effects then momentum just isn’t worth pursuing at all. Sometimes momentum can be created through marketing without it having any effect on revenue. Make sure to watch out for momentum that doesn’t produce revenue or decrease costs because momentum like that is nothing but a waste of time and money.
Attend trade shows with a booth displaying your company’s latest products
Momentum can also be used to grow momentum at trade shows. Trade shows are a momentum-building opportunity that you shouldn’t miss out on. They are great for momentum because these events allow you to meet new customers and speak with them about your brand in person. Attending a trade show is one of the best opportunities you’ll have when it comes to momentum because it’s the perfect time to market your brand and momentum in person.
Not only that, but trade shows are also a great opportunity to get momentum from your current customers who’ve already seen momentum from you before. You can leverage momentum by offering incentives at trade shows. Make it known that if people attend the booth at a certain time, they’ll get something for free or for a reduced price.
When momentum is built correctly, whether it’s the momentum that you’re building for your business or an investment portfolio, momentum works wonders. It’s worth the effort to build momentum because momentum will speed up your brand awareness and remove obstacles for you while momentum is being built.
Create an email campaign with compelling content that will persuade potential buyers
If momentum is being built correctly, you’ll have an easier time closing deals and making sales when momentum has been created. For example, momentum can be built with compelling content, which will help potential buyers understand your brand in a better way. In fact, momentum with email campaigns can triple revenue.
Email momentum is a momentum booster that can be used to grow momentum for a business. Email momentum works by getting certain types of momentum going through email. To start an email campaign, you need momentum going through your brand already, such as momentum from referrals or testimonials from your current customers.
You would then create an email campaign to get momentum going for your brand by persuading potential buyers. The momentum you build through an email momentum campaign can help grow momentum with new customers, especially if the momentum comes from referrals or accolades that are sent out through the emails.
Email momentum is a great tool because it allows momentum to be created more quickly than other types of momentum.
You must give momentum a chance because it’s the momentum that you’re looking for.
Produce videos of staff talking about the benefits of using your product or service
Another momentum-building chance you should exploit is the momentum from videos. Videos are an amazing momentum builder that allows momentum to be created quickly and easily online. You can use momentum with videos by shooting video testimonials of your staff talking about the benefits of using your product or service in their daily lives. Videos are great momentum generators because people love watching them on the internet today.
Videos that show momentum are momentum-building videos that help build momentum with your customers and potential customers because the videos allow you to humanize momentum. Because momentum is created by people, it only makes sense that momentum could be increased by adding humans to your momentum.
You should consider producing videos of your staff talking about the benefits your company offers for buying your product or service. These videos are momentum generators because they position your company as being very informative about how to use their product or service. Furthermore, momentum can be built by showing the potential buyer what exactly they’ll get when they buy from you, which is usually presented in a video.
Your momentum doesn’t need to be big. Just make sure momentum is being built for your brand in any way possible to see momentum’s impact on your sales and revenue start to grow.
Conclusion
It’s easy to lose momentum in your marketing plan. You may not have the time or resources, you might be too busy working on new products or services that are just about ready to launch, and there are always other fires to put out when it comes to running a business. But if you do nothing, then your company will suffer for lack of growth – which is never good. The key thing here is finding ways to get back some momentum without sacrificing what really matters most at this point in your company’s life cycle (like launching new products).
You can use momentum as an opportunity instead of seeing it as a problem by increasing your budget or leveraging current customers’ referrals and testimonials. Momentum offers many opportunities that will grow revenue if used wisely – what are some things that may help increase your company’s momentum?
