Understand Your Current Revenue
How much is your company currently generating in revenue? Where is this revenue coming from? Try to figure out which of your sites are the most successful.
Then, dig deeper.
Determine the characteristics driving their success. Some types of promotions and interactive content are better suited to certain types of markets, so evaluate how well your campaigns are supporting your overall goals.
Set Goals for Revenue Growth
Now that you have a good understanding of where you’re at in terms of revenue, begin to set goals for the future.
Make sure your goals are big enough to matter, but also achievable.
Start by setting a three-year goal and then breaking it down into more manageable monthly targets. Your monthly target will serve as an average – some months will generate more revenue than others, and that’s okay.
Create a Revenue Plan
Once you know where you are and where you’re headed, it’s time to create a comprehensive plan for growing revenue. Take into account each of your market’s strengths and weaknesses before creating targets for each campaign.
Scale your targets for the different market sizes, and lay out your plan like this:
No plan will be perfect from the start. Overtime, reassess the strengths and weaknesses of your campaigns. Revisit your plan to make any necessary changes based on what is working and what can be improved.
With a strong corporate plan, you will be ready to grow your company’s revenue and boost its potential.
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Julie is the Senior Customer Success Manager at Second Street and a former client in local media. Her best advice for driving the most success with your revenue and audience engagement strategy is to include promotions in every business initiative.