Revenue Expansion

Business Growth Service

Revenue Expansion

Measuring revenue growth is a key metric and a focus for most companies. When and how to expand revenues is a strategic decision that bring with it a number of questions and dimensions.

There are many ways to expand revenues. For some, it brings up the idea of new markets or verticals. For others, it is about further penetration in an existing market. Still others may think of new products and services to their existing market.

Another way people view expanding revenues is how you go to market. For some companies this will mean a direct sales approach. This can mean a field sales force, an inside sales team, or a combination of the two. For others it may mean an indirect approach, using channel partners as your path to sales. Many use a combination of these approaches to go to market and each has their own nuances to expanding revenues.

Yet another dimension to revenue expansion is how you are creating interest in your products, services, or both. Depending on the effectiveness of your outreach or inbound efforts are doing, there may be opportunity to gain additional revenue share through visibility.

Still another aspect to growing revenues can be seen in how you deliver your products or services. It is important when considering this dimension to understand what your customer experience looks like and how difficult it is for your customer to implement or continue to use your product or service.

Many companies are so focused on running their business that they don’t get a chance to step back and think about these dimensions and where opportunities are available. If you want to learn more about identifying the best opportunities for you, both in the short term and long term, click here.