In this episode of the Women on the Rise podcast, host Jen Blandos discusses the topic of why you need to STOP leaving money on the table in you business. Jen emphasizes the importance of evaluating and adjusting product/service pricing based on market demand, highlighting the significance of pricing oneself along with the market rate. She encourages female-owned businesses to explore multiple sales channels, including having their own online platform and leveraging third-party platforms. Jen also stresses the value of upselling and cross-selling, offering additional products or services to customers based on their initial purchases.

The discussion then shifts to marketing strategies, with Jen emphasizing the non-negotiable nature of marketing for business success. She encourages businesses to consistently communicate and effectively promote their products and services to avoid being the "world's best kept secret." Social media's power as a tool for connecting with customers and driving revenue growth is also emphasized, with the reminder that businesses don't have to be present on every platform but should focus on where their target audience is.

Jen moves on to customer retention programs, highlighting the significance of retaining existing customers as a source of new business. She suggests various ideas for customer retention programs, including expressing gratitude and offering personalized follow-ups. The importance of upselling opportunities is also discussed, encouraging businesses to offer upgraded or premium versions of products/services to customers who may be willing to spend more.

Collaboration is presented as a valuable strategy for business growth, emphasizing the strength that comes from partnering with complementary businesses. Jen dispels concerns about competition and highlights the benefits of collaborating and growing audiences together. Lastly, she emphasizes the significance of prioritizing repeat business and suggests strategies to ensure customers keep coming back.

Episode Takeaways:

• Under-evaluating product/service pricing and failing to adjust pricing based on market demand can lead to missed revenue opportunities.
• Exploring multiple sales channels, including having an online platform and leveraging third-party platforms, can expand revenue potential.
• Upselling and cross-selling offer opportunities to increase sales by offering additional products or services to customers.
• Effective marketing strategies and consistent communication are essential for business success.
• Leveraging social media platforms relevant to the target audience can drive revenue growth.
• Implementing customer retention programs fosters repeat business and builds strong customer relationships.
• Identifying and capitalizing on upselling opportunities can result in increased revenue.
• Collaboration with complementary businesses can lead to audience growth and mutually beneficial outcomes.
• Prioritizing repeat business ensures ongoing revenue streams and customer loyalty.