How to Increase Revenue and Business Profitability

Define your ideal customers and identify their needs. Build sales and marketing strategies on data driven decisions.

This article is useful for:

  • company management and owners,
  • sales and marketing managers,
  • HR officers and recruiters,
  • entrepreneurs and the self-employed.

Create a survey for free

  • Learn universal principals to accelerate your revenue growth
  • Find out how to use online surveys to boost your business
  • Discover various survey templates and choose the best fit
  • Get to know Survio’s features that save tons of your time

Generating revenue and maintaining profitability is a constant effort of any business, regardless of industry or subject field. Read more about approaches involving survey implementation in the process of achieving the best business results possible.

Universal principles that accelerate revenue growth and business profit

Price review

A reasonable raise in prices to maintain first-rate quality, effective customer-service, wider guarantees, and other benefits contributing to customer comfort and satisfaction are means of increasing revenue and profitability. Make sure to communicate such intentions properly, explain your reasons and educate so that there is no room for doubt among customers.

Upselling / Cross-selling

Utilize knowledge of your customers’ needs and encourage them to buy higher-end products (upselling) or add a complementary product to their purchase (cross-selling). Showcase entire portfolio range to increase probability of business transaction. Strengthen customers’ confidence in viewing your expertise and experience as the motives to seek your advice and buy your goods. Deliver comprehensive solutions that involve direct use of your products.

Bundling

Combine products, complementary assortment and related services to increase potentially higher spends of your customers. Create “packages” and apply a price tiering strategy, based on the principle “the more you buy, the more you save”. The added value that is also being sold is a one-stop purchase, ie. getting everything at your store and saving customers’ time.

Reward incentives

Set up loyalty programs and grant selected customers extra perks to appreciate their affiliation with your brand or products. There are lots of types you can choose from - collecting volume or frequency points, tier and subscription programs, VIP events, partnerships, etc. Prevent churn and reduce a chance of the competition getting your revenue portion.

Online / Offline communication

Use a variety of promotion channels to stay on top of your customers’ minds - e-mails, newsletters, social media, PPC campaigns, in-store displays and website ads, etc. Share the news, inform about upcoming updates or releases, distribute invitations to special events, encourage purchase behavior. Be visible and desirable.

In order to choose the right business accelerators, it is advisable to do regular research and focus on market trends, new opportunities, competition, shopping behavior, price sensitivity and other aspects to get relevant data for proper decision making.

Many perspectives to consider, one goal to pursue

Before you plunge into surveying, make sure to determine the purpose. Give a thought to what information you need to know to aim your efforts in the right direction and obtain required effect. Let’s take a look at different personas and outline business objectives they usually strive for.

Online surveys are a great tool to get insight into employee, customer, market, business or any other subject related topic. The following lines offer a behind-the-scenes sneak peek at what it takes to create a survey and how to benefit from the responses it delivers.

Employ online surveys to gather data for proper decision-making

Any kind of feedback that you receive from people whose opinions matter to you is invaluable. It’s always better to plan a couple steps ahead and adjust course on the go if need be than to lose time and money realizing that decisions you’ve made had no solid foundation. Creating surveys is not rocket science but to serve the desired effect they must be developed and executed correctly. To start smoothly, you don’t need to think from scratch. Browse through a survey catalogue which contains 100+ ready-made and fully customizable templates, organized in subject categories. Pick any that best fits your intention and fine-tune it by adding new questions, editing current ones, changing their order or removing those of no use to you. We’ve also prepared a detailed guide on creating your first surveys in Survio. Read more in How to conduct an online survey on our website.

If you are a marketer, don’t hesitate to check the following templates:

As a sales manager, you will be interested in obtaining data related to:

In the position of an HR specialist, your focus will include such topics as:

Once the survey is ready, all questions properly phrased and in place, it is time to send it off and collect responses. There’s no need to look for any other software. Built-in features for survey distribution and result analysis in Survio will convince you about its versatility and user convenience.

A survey platform that goes beyond response collection

Survio enables multiple ways of sharing surveys. You can combine those that optimize your target range and properly address your audience. If you work with a database of contacts, create an e-mail campaign with an engaging message that contains a direct link to your survey. To increase response rate, it is possible to add customized posts on various social media directly from Survio.

There’s also an option to embed surveys in your website. Feel free to choose from:

All smartphone users will appreciate a QR code that opens your survey once it’s scanned with the phone’s camera. Why not generate the code straight in Survio? In the event of insufficient technology or no internet connection, there’s still the old-fashioned way of printing out your questionnaire from Survio.

And now the best part - don’t worry about manual evaluation of the responses. Let Survio do the job and automatically analyze data in real time. Have the results processed in a variety of charts and tables, exported in the most common formats (PDF, DOCX, PPTX, XLSX, CSV or Google Sheets) or aggregated in dashboards that you set up according to your preference.

Summary - stay on top of your customer’s mind

Surveys are not a guarantee of thriving business or miraculous profitability. But they do play a significant role in achieving revenue milestones when used correctly, periodically and in the long-term run. Asking a question may seem like a trivial task but when the question is to deliver information with a value for your decision making, it needs to be thought out soundly.

Marketers, recruiters, sales people, executives, entrepreneurs - go for Survio, a well-established survey platform that’s trusted by over 3 million users worldwide. Seek feedback from your customers, employees, commercial partners, investors, founders and other entities that affect your business. Help them become successful, accelerate faster and grow bigger. As a matter of fact, their growth is your growth. It’s as simple as that.

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