Across 2020 to 2021, the total economic cost of the pandemic rose above nine trillion dollars, completely eclipsing the bullish gains which had been made over previous years. Instead of bouncing back, as many experts predicted, things have only gotten worse in 2022, as major stock markets crashed, global economies crumbled, and further once-in-a-lifetime circumstances occurred.
Our current age is one of the most difficult to launch a successful business. If your business has been going for less than a year, you’re currently weathering incredibly complex economic circumstances. To help you push through this period and come out stronger on the other side, you need to make sure you have a steady flow of growing revenue throughout 2023.
Growing revenue for your startup in 2023
In this article, we’ll turn to three tips that will help boost your startup’s revenue in 2023. We’ll cover:
- Turn to product demos
- Build content for future growth
- Break into new marketing areas
Turn to product demos
Time and time again, it has been proved that customers that can visualise themselves using a product are much more likely to buy in the future. There is no better way to help that visualisation than delivering product demonstrations directly to your clients.
‘There are so many content formats that you can try out in 2023. You never know, you could stumble across one that becomes your #1 priority’
The only problem is that 1-1 demos can take time out of your sales team’s day, costing your company resources. (Not mention that the B2B buying process in general is a headache that takes an excess amount of time.) In 2023, the goal is to maximize profits without wasting time. Using tools like Walnut, you can do exactly that, deliver highly personalised, interactive product demos without hassle.
Furthermore, personalisation is one of the most effective ways of increasing conversion rate. With Walnut’s sales experience platform, your business can develop and launch a range of personalised demos, helping each customer to visualise why exactly they should partner with your brand. Each product demo is connected to a centralised data hub, allowing you to then improve your demo offerings over time.
Walnut’s new “Beyond Demos” allows you to collect feedback on demos, get a clear ranking for each demo based on engagement, analyze the buyers’ demo flow, and consolidate all of this data into a CRM.
As more SaaS platforms like Walnut are developed, businesses should be looking toward the tools that will help them streamline their product offerings going forward.
Build content for future growth
Blog content marketing has been one of the leading marketing strategies for the past decade. Especially after Google’s recent Helpful Content Update, there’s never been a better time to start creating educational content for your audience. The better your content is, the more likely it is to rank on Google and start gaining organic traffic.
If you’re just getting started with a new business, you probably have a range of different tasks to juggle. Going into 2023, make sure that one of them is prioritising blog content for your website. Until now, blog content was a slow-burning content marketing system, something you write and publish today may not even start to rank for six months – at least.
Luckily, artificial intelligence has come a long way, and there are several AI-powered copywriting platforms such as Jasper. Say goodbye to writer’s block and expensive copywriters.
Down the line, blog content is going to be one of your biggest generators of organic traffic. If you don’t have methods to create a stream of passive traffic to your site, then you’re going to have to pay for every single click that you get. This, simply put, is going to completely undermine your methods of growing revenue.
If your CAC (Customer Acquisition Cost) is high, you’ll actively reduce the revenue of every sale you make. In order to overcome this, you can move into blog content. Understanding what keyword strategy is and how you can use it to find core keywords to help you rank is vital.
Working with marketing teams or individual experts will allow you to carve out a successful content marketing strategy going forward. While you may not see results straight away, this could be one of the most impactful things you do for your business in the long run.
Break into new marketing areas
Each year, marketing agencies around the world release their state of marketing reports. In these reports, they dive into the most successful marketing formats, strategies, and techniques that worked for them that year. HubSpot’s 2021 report shined a light on the various methods of conducting an effective content marketing strategy.
Currently, 82 per cent of brands are actively involved in content marketing. However, not every brand makes use of all the mediums that they have available. For example, for the past few years, video marketing content has been a leading strategy to capture new leads and increase engagement with customers.
Use the first few months of this year to try out a range of new marketing strategies. While video content is a style that’s currently seeing a lot of success, many people have had a lot of great results with email marketing. If you don’t have a list of contacts to reach out to, start building your mailing list with a lead magnet.
There are so many content formats that you can try out in 2023. You never know, you could stumble across one that becomes your #1 priority. If you’re currently limiting your content marketing strategy to a few select areas, like written content, you could be missing out on excellent new sources of growing revenue for your company.
By incorporating these three tips into your business strategy going into 2023, you’ll be in a strong position to start the year with a bang. Although we’re currently going through difficult economic circumstances, these strategies will help you concentrate on your business going forward.
From breaking into new marketing streams and actively turning to long-term strategies to reforming how you connect with customers on your website, our tips are surefire ways to beat the recession and come out on top.