Five Easy Fixes For Revenue Leaks
It’s there, guaranteed. Revenue that is. Revenue that’s generated by your direct response or direct to consumer campaign but not yet claimed. To make it yours, it’s a bit like digging for gold or gemstones – you have to know where to look and how to extract it.
It’s quite possible you have underpriced your product or service without even knowing it. Do you know, with certainty, the price to value ratio threshold for your customer? Do you really need to offer free shipping? How urgent of a problem does your product solve? In direct response, price testing is essential.
Phone Center Scripting:
Whether external or internal, finding revenue in a call center is easy. And it usually lies in your inbound or outbound script. Have you reviewed your script since the program launched? Have you done enough inbound test calls at different hours and days to understand where operators may be having trouble? How many recorded calls have you listened to? Perhaps rewriting a preformatted script template to be more consumer friendly is in order.
Upsells and Add-Ons:
Consumers in an active transactional mindset many times are willing to spend more with you…if it makes sense. Review your direct response upsells and cross check for disconnects in affinity. If I have just purchased a vacuum cleaner, I could be interested in an add-on tool package. But not magazines or cruises.
Proper policing is essential to reign in affiliates, resellers and wholesalers that may be part of your business model. It’s frighteningly easy for your online to get out of control, with many different parties offering different prices, offers and dreaded discount language, thus eroding your price point integrity dramatically, while cannibalizing your direct response sales.
Web Sites/Landing Pages:
You cannot set it and forget it in direct response or direct to consumer marketing. But web is hard and takes time. Guess what, there is revenue in them hills. Web needs to be a daily exercise in optimization, testing and CRM troubleshooting. Do so and you will be amazed at the impact a ½ percent increase in conversions will have on your program.