Increasing Your Digital Marketing Revenues
Believe it or not increasing your digital marketing revenues is NOT as hard as it seems. Most digital marketers are actually leaving a ton of potential revenues on the table and I am going to tell you how you can take advantage of this without having to do any more work!
So without delay let me talk to you about how you can make more money from the work you’re currently doing.
One of the things that I notice a lot is that there’s plenty of digital marketers who come up with solutions for their clients (or themselves) that I’d consider to be – custom solutions.
They spend a lot of time coming up with these solutions, and then they just stop there because the problem is solved.
Once they implement that solution for their business or for their client’s business, that’s the end of the trail. They simply move on to the next project where they come up with another custom solution.
One of the challenges I’m going to have for you here today is to start to think about who else can benefit from those solutions that you’ve already created.
I’m going to walk through some examples that I have used in my career and my businesses, that have led to hundreds of thousands of dollars in additional revenue, simply by asking that one additional question…
Who else can benefit from this?
When I was in running my foot care business, one of the things I had to do is I had to reach out to family physicians & primary care physicians because they were our referral source for orthotics in the business I was running.
One of the things I did is I built out fax lists. I scraped a large database of physician fax numbers that I built based on city and on specialty and created a master list.
Once I had created that master list it was an asset of the company, but it was an asset of the company that could’ve easily just been used for our company alone. What I decided to do at that point is redeploy it, and ask that question…
Who else would benefit from this?
And it turned there were tons of companies who had a need to be able to fax physicians once in a while and they were happy to pay $0.10-$0.15, sometimes 50 cents per fax from this one list that I built.
I was able to build 30-40-50 thousand dollars a year worth of faxing, just by having the list, automating the process, having a VA actually fax out the messages to the physicians. It was a level of value that allowed me to really scale up my business because it provided more cash flow, which allowed me to grow quicker.
That was one example of asking that one simple question and allowed me to redeploy an asset that I had built for my business out of a solution to a problem I had where I put it to use solving a problem for a lot of other businesses.
Now, this is something you can do as well.
You surely have solved problems that other people would benefit from and you just need to take the time to look in your business or your client’s business to see what solutions you already have for them.
Another example of this being put into action in my foot care business was when I started my digital marketing agency and started working with podiatrists.
I knew that one of the problems they had was that they’re a lean team. They needed to have a training module to walk them through how to answer the phones, how to deal with questions, what the frequently asked questions were, how to deal with insurance questions, how to sell to the patient coming into the office for orthotics etc. Whatever it was, there was a set of things that needed to happen.
Plus we knew that it needed mystery shopper, in order to see if their front end staff were doing a good job.
So, when a client asked me if I would pull this together I knew it wasn’t something that within the framework of what we wanted to offer, but I asked that one additional question.
Who else would benefit if I pull this together?
Is it something that I’m going to be able to sell over and over and over and over again?
The answer was yes!
So, we went to work and we built this with the full intent of charging the client for the work. We got paid our hourly rate to make it worthwhile on that front end deal but then we redeployed that exact strategy and brought in tons of other clients.
It added a tremendous amount of value to the community, by being able to market that service in a box.
So, again that’s another example where it didn’t take any further effort to secure more revenues.
The third example I wanted to share with you is again in the digital marketing space.
I had a client come to me where they wanted to have a custom application built for their website.
On a one off basis it wasn’t something that I wanted to get in to. I don’t particularly like custom work, because it’s not always scalable but when I looked at it and asked myself if we build this, will other people buy it from us, it became very obvious that if we spent the time, we were going to be able to bill that client, deliver for him exactly what he wanted, and then we would be able to take that plug-in and deploy it out into that niche and sell it over and over and over again.
It turned out it was something we were able to sell for $800 a pop to dozens of other people in that niche and it opened a lot of relationships that allowed us to sell other services.
Those are three examples from my business. Hopefully, you got something from this.
Really what I would encourage you to do is take a step back. Think about what you have or what you’ve done in your digital marketing agency, that you could redeploy for other people in the same niche that would solve problems for them.
Just take what you’ve already done and market it!