Five Great Places to Find More Revenue as a Small Business Owner

Whether you’re a freelancer, online service provider, or perhaps an online store owner, there will be slow times in your small business. Times when the work drops off, sales go down or there just don’t seem to be many new customers seeking you out.

You need to take action, but you need to do it as efficiently and cost effectively as possible. Before spending out on paid adverts, brand deals or other costly customer acquisition tactics, make sure the extra work – or revenue – you need isn’t already sitting in front of you. Here’s where to look for it.

Existing Clients

It’s generally much easier to get more work, or sales, from your existing clients than it is to acquire a brand new customer. If you’re a freelancer who’s short of work right now, a quick email to all the clients you’ve worked with previously can be a very simple way to bring in more projects. Simply tell them you have some slots in your schedule in the coming month and ask if there’s anything you can do for them.

Online store owner? Send out a quick email to everyone who’s ever bought from you before, highlighting any new products or current bestsellers. Consider including a discount code.

Your Existing Network

If satisfied existing customers represent the easiest sale you can make, the next easiest is probably one from a warm lead. That is, someone who is in your network or a part of your audience, but hasn’t bought from you yet. Time to put together a package, offer, or maybe another discount code, and share it far and wide.

Your email list is the best place to start, but don’t ignore social media channels and other online platforms. The people reading your posts on your socials, or watching your TikToks and YouTube videos, may feel far more of a connection to you than you realise. They might be ready and eager to buy from you, if you just put the right offer in front of them.

The Network of Your Existing Clients

As a service provider, satisfied clients are invaluable. Not only will they use you again if they need a similar service, but they might recommend you too. Since you’re sending out an email to them anyway, offering your services, don’t forget to ask for referrals. Simply say that if they know anyone that could use your services right now, they can send them straight to your ‘work with me’ page, or equivalent (include a link).

Does this work for store owners too? Hell, yes. Ask your previous or regular customers if they would consider recommending your products, sharing them on their socials or writing a review. Offer to re-post any social posts featuring your products too, to promote the profile of whoever is posting.

The Networks of Your Competitors

No,  I’m not suggesting you go poaching from other people in the same industry. I am suggesting you network with them and build relationships. You basically want to be the go-to person that someone in your industry recommends when they’re swamped with work and can’t take on any more. Or if someone asks them for a very specific product or service that they don’t offer, but you do.

The Networks of People Who Look Like Your Competitors, But Aren’t

A long time ago, when I published my first Kindle book and was trying to build an online network, I read some bad advice. Somebody told me I should be only connecting with potential readers, not other authors. Other authors are your competitors, not your friends, she said.

Over time I realised that’s simply not true. At least not for authors. If you sell refrigerators, then sure, other refrigerator sellers are your competitors. When it comes to white goods, most people have one of each, and replace them maybe once a decade or so. Any potential customer is either going to buy your product or theirs. But if you’re an author, it’s different.

No avid reader buys one book every ten years. As an avid reader myself I probably buy about 50 a year. And as an author you’re not going to produce 50 books a year. This is where cross-promoting with other authors can work beautifully. You can let customers know that if they liked your last book, you know a fellow author who is releasing one in a similar genre or with a similar theme.

That author will do the same for you in the future. You can even act as affiliates for each other. The same goes if you sell other services, digital products or some kinds of physical products. Cross-promotion is your friend.

Paid ads and promotions have a place in your customer acquisition strategy, but they’re not the only options. If you need to fill gaps in your work schedule quickly or bring in instant new sales, it’s worth trying other tactics first.

Karen Banes is a freelance writer specializing in entrepreneurship, parenting and lifestyle. She writes articles, website content, ebooks and the occasional award winning short story. Her work has appeared in a range of publications both online and off, including The Washington Post, Life Info Magazine, Transitions Abroad, Brave New Traveler, Natural Parenting Group, and Copia Magazine. Learn More About Karen