Ambika Gautam works with the Marketing 2.0 Conference’s team. The three-day conference will feature hyper-focused keynotes and panel discussions revolving around the future of marketing, advertising, and retail. Touching upon the latest trends and developments in marketing automation and e-commerce, the conference will also explore effective marketing strategies, how one can protect oneself against ads that promote fake schemes, scams detection, as well as fraud prevention in the digital space.
The pandemic has caused quite a stir across industries in the past few months. While a number of businesses experienced a downfall in sales and revenue generation, others used it as an opportunity to bring something new to the market, and hence, adding to their customer base as well as revenue generation. It is an established fact that growth is a significant factor for any business’ survival. To keep walking on the path of growth and increase revenue generation, businesses need to focus on customers, marketing & sales efforts while reviewing pricing strategies and expanding their market.
Concrete growth strategies are more than just marketing tactics. It is a crucial part of your business machine. Not having a growth strategy can result in a poor customer base and uncertainties in business operations due to market fluctuations. With the changing landscape of major industries, businesses need to invest in global marketing events, such as the Marketing 2.0 Conference.
Maximize your client base and opportunities with strong commercial strategies such as:
Be Aware Of Your Sales Velocity
Sale velocity is a measure that helps businesses calculate the effectiveness of their sales pipeline. In other words, it is just the revenue a business generates in a day. So, to increase the sales velocity, the company needs to work on improving the number of opportunities that could be converted into clients, and hence, revenue.
Prioritize Your Conversion Rate
One of the most useful ways to work on improving your conversion rate is to keep a close check on the sales funnel. There are three stages in a sales funnel:
Awareness Stage - Brands get noticed
Consideration Stage - Qualification & nurture take place
Conversion Stage - Leads turn into customers
Experts claim that businesses have more opportunities at the top of the funnel (awareness stage) than at the bottom (conversion stage). Therefore, businesses should focus more on increasing the number of opportunities that convert into customers.
Expand Your Market
The rise in the number of leads in the sales pipeline increases the number of opportunities to generate business revenue. To make that happen, marketers should conduct regular market research and look for gaps. It will further enable businesses to identify and target new markets that could benefit from their products and services. In addition, businesses could update their content marketing materials, add relevant case studies to their site along with creating targeted digital ads.
With the advent of technological disruptions, most organizations have started investing in technology. Although embracing technology is crucial, when it comes to revenue generation, it’s all about your business’ return on investment. Therefore, it is imperative for marketers to include the right tools in their marketing as well as commercial strategies. For instance, from Customer Relationship Management (CRM) software and customer service automation to website personalization and lead generation software - there is a tool to perfectly fit different business goals and hence, to generate more revenue. Innovative technology can assist you to manage data effectively, improve or streamline processes, and align in-business operations.
These strategies are just the tip of the iceberg on how companies can adapt to the changing industry landscape. C-level executives, business institutions, and other thought leaders can explore more in the area at the upcoming Marketing 2.0 Conference.