Tuesday, July 17, 2007

Increasing Sales Revenue

There are four ways to increase revenue through sales.

1) Increase the price of your products or services to your existing customer base
2) Introduce new services or products to your existing customer base
3) Develop new buying relationships within your existing customer base
4) Increase your customer base by adding new customers

In my experience the first three listed above are easier and quicker to achieve versus building new business. I believe there is a correlation between working within your existing customer base and the adage, 80% of your revenue comes from 20% of your customers.

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