3 Strategies to Grow Your Revenue by 30% Without Spending a Dime (2024)

Last year—or last season—you experienced great growth but now you’ve plateaued. You’re doing all the same things, but your revenue is static. This can be extremely frustrating for business owners. When thinking of ways to increase revenue, people typically think, “I need to decrease expenses,” or, “I need to increase marketing.”

Jay Abraham, author of The Sticking Point Solution, has laid out three simple strategies to grow your business by at least 30%. These strategies won’t cost you anything extra to use and won’t require you to reduce expenses.

Strategy #1: Increase Your Number of Clients by 10%

This may seem obvious—and daunting—but, one of the best ways to grow your business is to grow your number of clients. How do you grow your client base by 10% without spending extra on marketing? First, let’s break down what increasing your client base by 10% really means.

If you run 100 calls per month, you need to run just 10 more calls per month—or 2.5 more calls per week. If you run 50 calls per month, you need to run 5 more calls—or just over 1 more per week. When you break it down to more manageable numbers, the task becomes less daunting. How exactly are you going to book these extra calls?

• Recover lost or unbooked calls.
• Ask for referrals. Ask your neighbors, friends, and family for referrals. Join a business-networking group. Make sure your techs are asking for referrals.
• Ask for reviews. Reviews help establish your reputation in your community and helps build potential clients’ trust. The more positive reviews you have, the more likely a potential client will choose you over your competitor.
• Increase your social-media presence. Having an active social-media presence is another way to build trust and show off your company’s personality. Remember, people buy from people they like.

Strategy #2: Increase Your Transactional Value by 10%

It’s a lot more cost-effective to increase your transactional value or your average ticket than it is to acquire new clients. Think about it—would you produce more revenue running three service-fee only calls and two level-one repair calls, or would you produce more revenue running two level-four calls? If your average ticket is $100, how can you get your client to spend just 10 more dollars? Even if your average ticket is $1,000, can you find areas for your client spend an extra $100? The truth is, the more someone has already agreed to spend, the easier it is for them to spend more. If a client is spending $20,000 on a new roof, but they could get a better roof—or maybe a more desirable color—for just $2,000 more, they’ll likely do it.

Your technician or salesperson is already at your client’s home. They’ve built rapport and the client already likes them. All your technician or salesperson has to do is ask.

Here are additional ways to increase your transactional value by 10%:

• Put your product in the client’s hands. Research has shown that clients will spend 40% to 60% more if they are able to hold—or at least look at—the product. This may be tricky for some trades, but if you are a plumber and you are selling a new faucet, take it out of the box and let your client hold it. Hand them the bottle of BioOne™ while you are talking about the benefits. Electricians, LEDs are still just a buzzword to many clients—show them how they are different. Roofers, let your client hold a sample of the shingle or tile. HVAC, let them hold the NEST or other smart thermostat.
• Drop the dollar sign. When you are writing options for your clients, just write “786” instead of “$786.” A study by Cornell found that people will spend 8% to 12% more just by leaving off the dollar sign.
• Bundle options. Bundle several options that make sense for your client into one price. Seeing one number, even if it is higher, will make clients more likely to say, “Yes.” You can also explain to your client that it would be cheaper to take care of all the items today because it will save them from paying the service fee on another trip.
• The Rule of Reciprocity. Sometimes we call this, “going the extra mile” or, “giving your client the pickle.” Whatever you call it, the theory is simple. If you do something nice for someone, they’ll feel compelled to do something nice for you. This is one of the easiest ways to get your client to buy more. You can do something as simple as bringing their trash cans up from the curb or hanging a picture they have sitting on the floor.

Strategy #3: Increase How Frequently a Client Buys from You by 10%

In our industry, this strategy may be the most difficult. Clients aren’t buying a new roof, HVAC system, electrical panel, or hot-water heater every year—or even every five years. However, if they only buy from you once every 10 years, how can you entice them to buy just one additional time during those 10 years—no matter the ticket price? Club Memberships!

Selling (and retaining) club memberships is critical to growing your revenue. Club-membership programs allow you the opportunity to be in a client’s home at least once or twice a year. During these visits, your technician should identify opportunities to create more value for your clients. It’s important to note that you should never encourage your employees to sell anything that a client doesn’t need or can’t afford, but they should be offering suggestions to make the client’s home safer or more efficient. Even if your technician does not sell anything during the maintenance visit, the visit is not a waste. Each visit helps build your company’s relationship with the client and keeps your company top of mind for when they need you or when their neighbor or friend needs you.

These three simple strategies offered by Jay Abraham can help you grow your revenue by at least 30%. My challenge to you is to think about each strategy. Brainstorm ways you can leverage each strategy in your business and write them down. Over the next three months, focus on increasing your client base, your average ticket, and how often your clients buy from you by just 10%.