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Asked a question 2 years ago

How to increase the revenue in business?

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In today's world, to earn profit by surviving in the market, in which there are so many competitors and challenges, is really difficult. Some of the ways to do so are - 

Expand customer base -

Increasing the number of customers obviously earns a good income. For this, different ways/steps must be followed. By providing best possible products & services,  the customer base can be expanded. Also, the mouth publicity adds benefits to the revenue. 

Extend Market Area -

A major setback in increasing revenue is not extending the market area of  business. If customers are satisfied with the services or products of your company, then there might be people ready to take franchise. To work these things out, a good and efficient team must be hired. The overall revenue from all locations earned can be high. 

Raise the Prices - 

If the customers are happy and satisfied with the services & products, they are also willing to pay extra for these. This is the biggest advantage of providing best quality in services. For this, different strategies can be implemented such as giving discounts, providing different offers to loyal customers and so on. Thus, raising your prices means one can collect more revenue from every purchase a customer makes.