As a marketing agency hired by an SMB, it makes sense that you would want to do your best to help them grow both brand awareness and revenue.
More revenue is a sign to your client that you’re doing an exceptional job for them. It’s also a strong indicator to other clients that you know what you’re doing, and a good value marker for those who are considering hiring you.
Of course, there is no golden ticket revenue driver. (And if there was, everyone would already be doing it!) But there are marketing strategies that you can employ that are specifically geared toward creating new streams of revenue and making more money for your clients. Here are five of them.
1. Webinars & Seminars
If your SMB client is an authority on what they do, then why not capitalize on it by hosting pay-to-attend webinars and seminars? If they truly have some great insight to offer, then you should have no trouble justifying the price tag.
The key to generating revenue through this type of activity is to price it smartly and market it heavily. Find a sweet spot between charging too much and charging too little, and base the associated marketing campaign around really establishing your client as a leader with information worth knowing about.
Be sure to give yourself plenty of time to market these events. The more buzz you can create, the more revenue you can bring in.
2. Online or Print Directories
Depending on your client’s field, they may be able to offer paid directory opportunities either online or in print — a lucrative undertaking when done correctly. Each directory listing is essentially a paid ad, with additional features like sponsored articles that companies can choose to pay for if they’re interested. Listings should be related to your client but not directly in competition with them.
The end result is a niche publication — free to consumers or other businesses — that focuses in on leading companies within a specific area. If your client is a dog sitting service, for example, it may be a directory of local groomers and vets. If they’re a software company, it may be a directory of local tech support companies.
Don’t worry if your client isn’t in publishing themselves. The goal is to create a marketing material that can drive new revenue, regardless of whether it’s the type of content your client has created before.
3. Subscription Services
The best revenue streams are the ones that happen consistently. Enter subscription services, which can be used to generate regular sales or services without the need for additional lead nurturing.
Your client’s customers might not care much about spending an extra $10 a month for access to a subscriber-only section of a website or $15 a month for a 10 minute monthly consultancy web check-in, but these numbers will add up fast. Think about a product or service that your client can offer month to month, and put a price on it. Then shop it around as a small additional fee on top of what your client’s customers are already paying.
4. Expand Their Reach
Is your SMB client a local company? Why not stretch their impact (and their bottom line) by expanding their reach nationally—or even globally? Each additional level that your client hits means more revenue, and most companies can easily translate beyond the local market, provided their services don’t require physical contact.
If your client is open to it, explore ideas to grow your marketing reach and build brand awareness outside of their standard market. The more people you market to, the more potential customers for your client.
5. Create Merchandise
Even small- and mid-sized companies can make some extra money by selling branded merchandise. Think tote bags, tee shirts, mugs, and other low-priced items that your client can put their logo on for a bit of profit.
To maximize the revenue potential of merchandise, start small. Don’t order a bunch of stuff in the hopes of selling it; design the products, add an ecommerce platform to your client’s site, and evaluate your needs from there. You may need to order a set amount of each product, or you might be able to just create each product on demand. Just be sure to get creative with your branded materials while also staying true to your client’s voice.
Today’s marketing agencies need to do more than just spread the word about their clients. Get creative, expanding on existing revenue streams and developing new ones that can offer tangible results where it matters most. Your client will be happy, and you’ll build up your portfolio in ways that are sure to bring more business your way.