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In a today’s ever-competitive market, there are five simple changes any small business can make to generate more revenue. 

These simple business rules, unearthed in the ‘SMBs in the digital race for the customer’ report from Deloitte Access Economics, will help you actively engage your customers online and start reaping the revenue benefits.

1.   Be where your customers go

61% of Australians are purchasing goods online so it’s natural that’s where they want to interact with your company. Spend 1% more on your online services and boost your annual revenue growth by 2.9%.  That’s $100,000 per year for the average SMB. 

SMBs can boost annual revenue growth by $100K by spending just 1% more on online services #GrowSmallBiz #AusBiz [TWEET THIS]

2.   More talk = More action

More communication channels could mean $160,000 more revenue. Small business that engage their customers over multiple channels enjoy 4.8% higher revenue growth per year, or around $160,000.

More communication channels could mean $160K more revenue per year for your small business #GrowSmallBiz #AusBiz [TWEET THIS]

3.   Be SO social they can’t miss you

Social media investment is critical if you want another $30,000 per year.The reward for each additional business capability that SMBs perform over social media, such as advertising or brand development, is more than $30,000 per year.

Doing more on social media, such as targeted advertising, can earn SMBs $30K+ per year #GrowSmallBiz #AusBiz [TWEET THIS]

4.   Get the right tools

Add marketing automation tools and generate an additional $27,000 per year. By investing in just one marketing automation capability, such as the ability to track customer online behaviour, your business could generate an additional $27,000 in revenue each year.

SMBs investing in marketing automation tools are generating an additional $27K per year #GrowSmallBiz #AusBiz [TWEET THIS]

5.   Embrace customer complaints

Grow revenue by up to $30,000 by using CRM to respond to customer complaints at lightning speed. Every 10% increase in CRM usage to handle customer complaints leads to 1% point increase in revenue growth or $30,000 per year.


SMBs who increase CRM usage by 10% to handle complaints can increase annual revenue by $30K  #GrowSmallBiz #AusBiz
[TWEET THIS]

Download the full Salesforce+Deloitte report HERE: