Which type of client would you like to see increase?
Once you have a better idea of what demographics make up your most profitable client group, you can start by planning promotional events that targets that group. There are 4 steps to increasing revenue within your target group.
STEP 1: Plan:
No great venture goes forward successfully without planning.
What are your aims through this?
- Are you looking to increase clientele?
- Are you looking to increase revenue?
- Are you looking to promote awareness on new products or services?
Once you know the answers to the above question, set targets. By how many do you want your clientele to grow, how much revenue you want to increase and how many services are you looking to get booked. Be clear about the numbers because it is also a numbers game. Knowing your targets helps you judge whether the promotional event was a success.
STEP 2: Analysis:
After planning the initial stages, now see how to achieve the above goals. What would work best for you – discounts on services, a charity event, an appearance by a famous celebrity or an open evening. As each of these options requires a certain amount of funding, time and other resources, you can best judge which option is suitable for you.
STEP 3: Making sure the event takes place
After all the planning and lots of hard work, you should keep in mind the objectives you want to achieve from this event.
STEP 4: Evaluate your success
Use the information gathered during the event to see if your objectives were met. You may be on a high in the wake of the event, but you must come down to Earth. There is the evaluation to be done, a crucial step to determine whether your promotional event was a success in terms of fulfilling your objectives. See if there is anything you would carry forward to the next event, or if there are steps you would change. Planning is the key to a great business.