Certainly, businesses require a continuous increase in revenue to remain successful. However due to the rise in the Coronavirus cases, business owners are becoming severely stressed. That is to say, due to the lockdown, the economy is facing severe rapid downfall. As a result, businesses are forced to shut down. Consequently business owners are finding ways to have an increase in revenue by thinking of other useful ways. However for business owners, it is essential that they have rapid increase in revenue because that is what the business demands. Further to make the business stand strong in deteriorating economical conditions is also necessary.
“Setting goals is the first step in turning the invisible into the visible.”
How to Get Increase in Revenue
Therefore instead of being stressed and panicked, you should work towards thinking of ways that help you to have an increase in revenue. Below we have shared some immediate steps that you can take to get an instant increase in revenue.
Increase in Revenue through Gift Cards
Gift card program is very essential when it comes to planning an increase in revenue. That is to say, they bring immediate increase in revenue. That is to say, it is due to the gift card purchase that you are sure that the customers will return to the store to shop again. Therefore for businesses that are severely being affected in the current situation should use gift cards to entice their customers to shop. Certainly there will be a quick increase in revenue.
Further you can know about the customers that you want to send your gift cards simply through your POS System. Further due to the current situation, digital gift cards are a must. Moreover these gift cards can be sent to the customers through emails. So, create such gift cards that are simple and easy to use for online shopping.
Online payments for Increase in Revenue
Certainly online payments are a must in the current times. Also, we have talked about this a lot now in our previous COVID-19 related articles as well. So by now you must be aware or we hope you would have start practicing to offer only online payment methods during COVID-19. Certainly people are concerned about the virus being transmitted through cash, therefore try as much as possible to refrain from cash payments. Also, the WHO has also suggested that people should switch to contactless payment modes. Why go through the lengthy task of disinfecting each note and then waiting for it to dry when you simply can avoid the whole process and improve customer experience through cashless online payments because
“if you are not taking care of your customers, your competitor will.”
–Bob Hooey
Increase in Revenue by applying for Government Relief
A very effective way to get instant increase in revenue is to apply for government relief and seek their assistance. Further businesses can also take low interest loans from the government to not let their business sink. Governments have many offers for businesses that need their help in such crisis. That is to say, emergency funding from the government and other business protection funds. So, see which programs your government is offering and how you can apply to those relief plans.
Increase in Revenue by changing Shipping Method system
Shopping cost is certainly an issue that is concerning retailers these days. Therefore in order to avoid the cost for the convenience of the customer as well as for the company, you should offer customers curbside pickups. Further they can also place the order at the door step and inform the customer about it.
Conclude
To conclude, certainly businesses did not expect such a big turnover in their business. Also, we understand how everyone is struggling to save their business from destruction. Moreover in this time, educate the customers and build trust in them because that is more important than anything else. When customers have trust in brand, businesses and brands have a strong backing in the form of their customers.
“Sales is not about selling anymore, but about building trust and educating.”
–Siva Devaki